The sudden move toward ending the Iran war and reopening the Strait of Hormuz has jolted the global energy sector, with oil prices slipping but still sitting well above pre war levels. For investors, this mix of easing tensions and ongoing supply uncertainty creates both potential openings and fresh risks. This article highlights 3 large energy stocks from our Global Energy Sector screener that are most exposed to these developments in a potentially positive way. Across these companies, you will see how balance sheet strength, geographic exposure, and operational resilience intersect with this new phase for oil markets.

Green Plains (GPRE)

Overview: Green Plains produces low carbon ethanol and related biofuel products, handling everything from grain sourcing and drying to producing ethanol, high protein feed and renewable corn oil for customers in the US and overseas.

Operations: Green Plains generates most of its revenue from Ethanol Production, including corn oil and partnership activities, at about US$1.8b, with around US$162 million coming from Agribusiness and Energy Services, partially offset by intersegment eliminations.

Market Cap: US$1.1b

Green Plains sits at the crossroads of traditional fuel markets and policy backed low carbon energy. This is why the Iran ceasefire and the reset in oil prices matter for you as an investor. The company has been leaning into cleaner ethanol and high value coproducts like ultra high protein feed and corn oil, supported by US clean fuel incentives such as the 45Z tax credit and carbon capture projects. At the same time, it is working through the risks of still being in a turnaround, including a history of losses, reliance on policy support and higher risk external borrowing. With recent quarters showing improved operations and attention on whether oil price volatility will keep biofuels in focus, there is more to this story than the headline numbers suggest.

Green Plains’ turnaround, cleaner fuels focus and policy support story only makes sense when you see how its cash flows and debt profile actually stack up, so review the Green Plains financial footing with the Green Plains financial health report

Strathcona Resources (TSX:SCR)

Overview: Strathcona Resources is a Canadian oil and gas company focused on heavy oil and thermal projects across Alberta and Saskatchewan, producing petroleum and natural gas from oil sands style Cold Lake and Lloydminster assets as well as conventional fields.

Operations: Strathcona generates most of its revenue from its Lloydminster Thermal segment at CA$963m, followed by Lloydminster Conventional at CA$618m and Cold Lake at CA$2,022m, with smaller segment adjustments.

Market Cap: CA$9.5b

The Iran ceasefire and reopening of the Strait of Hormuz matter for you here because Strathcona offers direct exposure to oil pricing, but from Canadian heavy oil fields that are physically distant from Middle East supply risks. The company is leaning on organic growth from oil sands style assets, a growing U.S. Gulf Coast rail outlet for its heavy barrels and an active capital program, while also carrying meaningful debt and funding its operations entirely through external borrowing. Earnings have been volatile, with Q1 2026 net income at CA$39m on CA$921m of revenue and the dividend not fully covered by free cash flow, so understanding whether the long term production plan and carbon initiatives offset those financial pressures is important context as you consider how it might fit in a diversified portfolio.

Strathcona’s heavy oil growth story is powerful, but the real test is whether its balance sheet and cash flows can support that plan. Get the full picture in the Strathcona Resources financial health report

Hess (HES)

Overview: Hess is a long established oil and gas company that explores for, produces, transports and sells crude oil, natural gas liquids and natural gas across the United States, Guyana, Malaysia and nearby offshore basins, supported by a midstream network that gathers and moves its production.

Operations: Hess generates most of its revenue from Exploration and Production at about US$12.5b, with around US$1.5b from Midstream largely offset by US$1.5b of eliminations, and is heavily exposed to the United States at roughly US$6.3b of revenue and Guyana at about US$5.3b.

Market Cap: US$45.5b

Hess gives you exposure to a major US producer that is directly affected by elevated global oil prices and supply uncertainty around the Iran ceasefire, while also leaning on high quality assets in Guyana and the Bakken. Earnings growth has been strong, supported by an 18.2% net margin and 21% Return on Equity, and analysts expect earnings to grow faster than the wider US market, yet the stock is currently priced well below one estimate of fair value. Against that, Hess carries high debt, relies entirely on higher risk external funding and has seen recent insider selling. How those strengths and pressure points interact as oil markets reset is where this story gets interesting for you as an investor.

Hess’s accelerating earnings, strong margins and Guyana exposure could be masking a bigger story around future growth. Before oil markets settle, see what the analyst forecasts for Hess quietly signals about where this could head next.

The three stocks covered here are just a starting point, with the full Global Energy Sector (Oil & Gas Producers) screener surfacing 13 more large energy companies that pair oil and gas exposure with solid financial and health metrics and equally compelling narratives. Use Simply Wall St to identify, filter and analyze the specific catalysts and storylines that matter to you so you can focus on the highest conviction opportunities in this sector.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.