Oil futures finish higher

 

Crude oil futures finished higher in Monday’s trading in the US and overseas as analysts say the prices were propped up by a drop in the U.S. dollar.

September West Texas Intermediate oil rose 31 cents, or nearly 0.8%, to settle at $41.60 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude was up 16 cents or 0.37% to settle at $43.41 on the ICE Futures Europe. Natural gas fell 7 cents for a 4.09% decline to finish the day at $1.73 per MMBtu.

The U.S. dollar fell nearly 1% to $93.62 in trading on the ICE Index, the lowest level since 2018.

 

“Recent weakness in the dollar has been “beneficial to dollar-denominated commodities in general and to oil in particular,” said Marshall Steeves, energy markets analyst at IHS Markit. Still, gains for oil were modest against a backdrop of ongoing demand worries tied to the pandemic and U.S.-China tensions reported.

Here is how some Oklahoma-related energy firms saw trading go on Monday:

SandRidge Energy dropped 4 cents or 2.94% to land at $1.32 a share.

ConocoPhillips (COP) down 0.51 at 39.77 – change 1.27%

Devon (DVN) down 0.27 at 10.43 – change 2.53%

 

EOG Resources (EOG) down 0.48 at 48.56 – change 0.98%

Kinder Morgan (KMI) down 0.05 at 14.20 – change 0.36%

Marathon Oil Corp. (MRO) down 0.09 at 5.63 – change 1.58%

Noble Energy (NBL) up 0.01 at 10.90 – change 0.09%

ONEOK (OKE) down 0.70 at 28.02 – change 2.44%

Phillips 66 (PSX) down 0.47 at 64.59 – change 0.73%

 


CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 4.79 at 83.26 – change 5.45%

 

 

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