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Source: Getty Images <\/p>\n Source: Getty Images <\/p>\n
Written by Amy Legate-Wolfe<\/a> at The Motley Fool Canada<\/p>\n Oil can turn quiet until it suddenly isn\u2019t. That\u2019s why investors may want stocks with real assets, cleaner balance sheets, and catalysts already in motion before volatility<\/a> returns. The best picks don\u2019t need oil to surge forever, but enough exposure to benefit when prices move, enough discipline to survive when prices fall, and enough growth to keep the story alive. So, let\u2019s consider a few on the TSX today.<\/p>\n VET <\/p>\n Vermilion Energy (TSX:VET<\/a>) looks relevant now because it gives investors exposure to oil and natural gas, with a bigger focus on gas after a busy year of portfolio moves. The company produces energy across Canada, Europe, and Australia, which gives it pricing diversity that many smaller producers lack. Over the last year, Vermilion stock bought Westbrick Energy for about $1.1 billion to strengthen its position in Alberta\u2019s Deep Basin, then sold its U.S. assets for $120 million to simplify the business and reduce debt.<\/p>\n Vermilion stock generated $1.01 billion in fund flows from operations (FFO) in 2025 and $375 million in free cash flow. It also cut net debt by more than $700 million from the first quarter, ending the year at $1.34 billion. Vermilion stock recently traded around 13 times forward earnings and 1.5 times sales, which doesn\u2019t look stretched for a company with stronger production and lower debt. The risk, of course, comes from commodity prices. If natural gas weakens or Europe cools off, cash flow could tighten quickly.<\/p>\n KEL <\/p>\n Kelt Exploration (TSX:KEL<\/a>) offers a more focused Canadian growth angle. The company operates in the Montney and Deep Basin, with production tilted toward natural gas, oil, and natural gas liquids. That makes it a strong fit if investors expect another round of energy swings tied to LNG demand, North American supply, or geopolitical tension. Over the last year, Kelt dealt with some production shut-ins tied to third-party gas plant delays, yet still grew production and kept its balance sheet in good shape.<\/p>\n In the fourth quarter of 2025, production rose 24% year over year to 45,102 barrels of oil equivalent per day (boe\/d). Petroleum and natural gas sales climbed 15% to $143.8 million, while adjusted funds from operations (AFFO) rose 11% to $76.8 million. For the full year, Kelt earned $63.1 million, up from $45.4 million in 2024. It also ended 2025 with net debt of $189.7 million, just 0.7 times AFFO. The stock recently traded near 15.5 times forward earnings, so investors pay more for growth here. That creates risk if gas prices disappoint or project timing slips again.<\/p>\n Story Continues <\/p>\n TKO <\/p>\n Taseko Mines (TSX:TKO<\/a>) isn\u2019t an oil stock, and that\u2019s part of the appeal. Oil volatility often spills into the wider commodity market, especially through inflation, diesel costs, infrastructure spending, and investor appetite for hard assets. Taseko produces copper from the Gibraltar mine in British Columbia and recently started copper cathode production at Florence Copper in Arizona. That gives it a growth story tied more to electrification, grids, and industrial demand than crude prices alone.<\/p>\n Taseko reported 2025 revenue of $673 million, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $230 million, and a net loss of $30 million. The fourth quarter looked stronger, with revenue of $243.8 million, adjusted EBITDA of $116 million, and net income of $4 million. Florence Copper started production in February, while Gibraltar produced 30 million pounds of copper in the first quarter of 2026, up 50% from the same period last year. The stock recently traded around 15.8 times forward earnings and nearly 4.5 times sales, so expectations already look higher. Investors need copper prices and Florence\u2019s ramp-up to cooperate.<\/p>\n Bottom line <\/p>\n The takeaway? Oil volatility doesn\u2019t only reward the biggest oil names. It can reward disciplined commodity stocks with cleaner balance sheets, stronger production, and clear catalysts. Vermilion stock brings international energy<\/a> exposure, Kelt brings Canadian gas growth, and Taseko adds copper upside with a different kind of commodity tailwind. Together, each gives investors a way to prepare before the next oil shock grabs the market\u2019s attention.<\/p>\n The post 3 Canadian Stocks to Buy Before Oil Volatility Returns<\/a> appeared first on The Motley Fool Canada<\/a>.<\/p>\n Should you invest $1,000 in Kelt Exploration right now? <\/p>\n Before you buy stock in Kelt Exploration, consider this:<\/p>\n The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026\u2026 and Kelt Exploration wasn\u2019t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.<\/p>\n Consider MercadoLibre, which we first recommended on January 8, 2014 \u2026 if you invested $1,000 in the \u201ceBay of Latin America\u201d at the time of our recommendation, you\u2019d have over $18,000!*<\/p>\n Now, it\u2019s worth noting Stock Advisor Canada\u2019s total average return is 94%* \u2013 a market-crushing outperformance compared to 85%* for the S&P\/TSX Composite Index. Don\u2019t miss out on our top 10 stocks, available when you join our mailing list!<\/p>\n Get the 10 stocks instantly<\/a><\/p>\n * Returns as of April 20th, 2026<\/p>\n More reading<\/p>\n Fool contributor Amy Legate-Wolfe<\/a> has no position in any of the stocks mentioned. The Motley Fool recommends Vermilion Energy. The Motley Fool has a disclosure policy<\/a>.<\/p>\n 2026<\/p>\n","protected":false},"excerpt":{"rendered":"Source: Getty Images Written by Amy Legate-Wolfe at The Motley Fool Canada Oil can turn quiet until it…\n","protected":false},"author":2,"featured_media":37781,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[10820,16307,17,2292,1291,9320,16305,16306],"class_list":{"0":"post-37780","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-balance-sheet","9":"tag-balance-sheets","10":"tag-canada","11":"tag-fool-canada","12":"tag-gas-prices","13":"tag-natural-gas","14":"tag-natural-gas-liquids","15":"tag-vermilion-energy"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/37780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=37780"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/37780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/37781"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=37780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=37780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=37780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}