Oil and gas stocks are expected to grow after Russia cuts gas to Europe, and one strategist says there is “absolute opportunity” in the sector right now. Russia’s state energy giant Gazprom on Friday announced an indefinite halt to gas flows to Europe through the Nord Stream 1 gas pipeline, citing the need for repairs. It comes hours after the Group of Seven economic powers agreed on a plan to impose price caps on Russian oil in an effort to limit Moscow’s oil revenues. Kenny Polcari, chief market strategist at SlateStone Wealth, said Tuesday, referring to the pipeline closure. The ‘bullish shock’ It comes after Goldman warned in a Friday note that a key risk of imposing price caps on Russian oil is “potential Russian retaliation.” “[It] This will turn this into an additional bullish shock to the oil market, Goldman analysts wrote. and its own revenue assumes even higher logistics costs for non-participating countries. “Oil and gas prices spiked following the news, with gas prices in Europe surging up to 30% on Monday. Prices rallied some gains on Tuesday, although early-month gas prices rose above the centre. The Netherlands’ TTF, a European standard for natural gas trading, is still trading around 221 megawatt-hours – up from about 214 megawatt-hours on Friday. Crude oil prices have risen less, but Brent and WTI prices have risen. Futures are still up more than 2% from Tuesday through last Friday Reviewing Big Energy dividend stocks Polcari stressed that investors should not “absolutely” invest indiscriminately. , however, with volatility. , are also good dividend payers.Polcari says: “Look at the big dividend payers, the names that will offer stability but also opportunities for growth. prices and energy,” said Polcari. He listed two such stocks: ExxonMobil and Chevron. ExxonMobil offers a 5-year average dividend yield of 5.5%, while Chevron’s average is 4, 4%, according to F . data actSet. Polcari said he’s going long-term with natural gas and coal, naming US exploration and production company Chesapeake Energy as a way to make money – combining its production to be focused on natural gas. However, according to the company. He also picked another natural gas producer – Comstock Resources – which is up 125% this year and he says there’s still plenty of room to go. “I don’t think it’s going to end,” he said. Polcari also named the American coal miner Peabody Energy, and for investors who want to use energy through funds instead of stocks, he said. named SPDR Sector Select Energy Fund – CNBC’s Holly Ellyatt contributed to this report.