Crude oil futures and Oklahoma energy stocks walked hand in hand into the loss column in Monday’s trading.
West Texas Intermediate crude for January delivery fell 19 cents or 0.4% in trading on the New York Mercantile Exchange and finally settled Monday at $45.34 a barrel. The slide came on the last day of November, a month where WTI saw a gain of nearly 27%.
Global benchmark Brent Crude suffered a loss of 37 cents per barrel or 0.8% and dropped to $47.88 on ICE Futures Europe. The front month January Brent crude expired at the end of the day’s trading session and lost 59 cents or 1.2% at $47.59 a barrel. Still, Brent crude managed to see a 27% improvement in November.
Much of the drop in crude futures came as investors waited on a decision from OPEC about possibly extending its crude production restrictions into 2021. Members met Monday and it was reported that a general agreement was reached to extend existing oil production cuts of 7.7 million barrels a day by another three months beginning in January.
Two of the Oklahoma stocks that took big hits in Monday’s trading were Mammoth Energy Services and Laredo Petroleum.
Mammoth took a 13% dive on a 29 cent loss as shares finally stopped falling at $1.96. Laredo Petroleum fell 11% following a $1.46 per-share drop to $11.81.
Alliance Resource Partners dropped 14 cents for a 3% tumble to $4.50 per share. Blueknight Energy Partners LP slipped one cent or about 1% to $1.69. Chesapeake Energy Corporation lost 25 cents a share for a decline of nearly 9% to $2.59.
Chevron (CVX) down 4.13 at 87.18 – change 4.53%
Concho Resources (CXO) down 4.54 at 57.48 – change 7.33%
ConocoPhillips (COP) down 3.22 at 39.56 – change 7.33%
Diamondback Energy (FANG) down 3.56 at 39.96 – change 8.19%
Energy Transfer LP (ET) down 0.18 at 6.18 – change 2.84%
Enterprise Products Partners (EPD) down 0.53 at 19.39 – change 2.66%
EOG Resources (EOG) down 4.55 at 46.88 – change 8.85%
ExxonMobil (XOM) down 2.06 at 38.13 – change 5.13%
Kinder Morgan (KMI) down 0.37 at 14.38 – change 2.51%
Marathon Oil Corp. (MRO) down 0.43 at 5.92 – change 6.78%
National Oilwell Varco (NOV) down 0.89 at 12.26 – change 6.77%
Occidental Petroleum (OXY) down 0.80 at 15.76 – change 4.84%
Parsley Energy (PE) down 1.22 at 12.53 – change 8.88%
Phillips 66 (PSX) down 4.66 at 60.58 – change 7.13%
Pioneer Natural Resources (PXD) down 9.49 at 100.58 – change 8.63%
Valero (VLO) down 2.85 at 53.77 – change 5.04%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.03 at 84.89 – change 0.04%
CenterPoint (CNP) down 0.88 at 23.19 – change 3.66%