A government report showing a drop in U.S. inventories including those at the Cushing crude oil crossroads in Oklahoma resulted in sharply higher closing crude oil futures.
The Energy Information Agency reported a fall of 562,000 barrels for the week that ended Dec. 18. The EIA also showed crude stocks at Cushing’s storage hub were down 26,000 barrels for the week.
West Texas Intermediate crude for January delivery jumped $1.10 and finished at $48.12 for a gain of 2.34% in trading on the New York Mercantile Exchange.
Global benchmark Brent Crude for February delivery finished up $1.04 at $51.12 in trading on ICE Futures Europe. It represented a gain of 2.08%.
Natural gas on the other hand dropped 0.17 at 2.61 – change 6.19%.
Maybe traders and investors saw the ghosts of Christmas past and changed their ways as Oklahoma energy stocks rebounded, some for a very big day in Wednesday’s trading.
Mammoth Energy Services saw the biggest bounce with a nearly 15% gain as stocks went up 67 cents to settle at $5.19 for the day.
Laredo Petroleum also delivered a nice present under the tree as it recorded a 13% gain with a jump of $2.47 per share as stocks settled at $21.91.
Who’s naughty and who’s nice? Someone’s been nice according to other Oklahoma energy stocks as Alliance Resource Partners rose 10 cents for a 2.21% gain to $4.63. Blueknight Energy Partners LP gained 3.32% following a 7 cent increase to $2.18. Chesapeake Energy Corporation was unchanged at $1.95.
Cypress Environmental Partners LP rose 12 cents to finish at $2.48 for a more than 5% gain. Devon Energy Corp had a nearly 6% gain with an 83 cent jump to $15.66. Enable Midstream Partners LP stayed unchanged at $5.39.
Gulfport Energy Corporation got a lump of coal as it suffered a more than 10% drop and finished the day with a weak 5 cents a share. Helmerich & Payne, Inc. settled up 46 cents at $24.51 for a 2% gain. LSB Industries, Inc. had a 12 cent increase to $2.82 and a gain of 4.44%.
Magellan Midstream Partners, L.P. had a 1% gain with a 46 cent increase to $43.58. Matrix Service Co added $1.08 and finished at $11.34 for a gain of nearly 11%. NGL Energy Partners LP finished up six cents to $2.66 and a 2.31% gain.
OGE Energy Corp. finished up 24 cents at $30.93 for a gain of about 1%. ONE Gas Inc had an 8 cent gain to finish at $76.00. ONEOK, Inc. settled at $38.80 following a 17 cent increase.
Ovintiv Inc finished up 95 cents for a gain of about 7% to $14.77.
PHX Minerals Inc had a 7% gain following a 15 cent increase to $2.31. SandRidge Energy Inc. finished up six cents at $3.24 for a 2% gain.
WPX Energy Inc rose 44 cents to settle at $8.06 for a 6% gain.
Williams Companies Inc had a nearly 1% gain after shares rose 14 cents to finish the day at $20.75.
How did others do? The Texas Energy Report listed some of them.
Chevron (CVX) up 1.33 at 85.69 – change 1.57%
Concho Resources (CXO) up 1.58 at 58.35 – change 2.78%
ConocoPhillips (COP) up 1.05 at 40.08 – change 2.69%
Diamondback Energy (FANG) up 3.75 at 47.80 – change 8.51%
Energy Transfer LP (ET) up 0.06 at 6.52 – change 0.92%
Enterprise Products Partners (EPD) down 0.01 at 20.17 – change 0.05%
EOG Resources (EOG) up 1.23 at 50.08 – change 2.51%
ExxonMobil (XOM) up 0.53 at 41.77 – change 1.28%
Kinder Morgan (KMI) up 0.05 at 13.83 – change 0.36%
Marathon Oil Corp. (MRO) up 0.50 at 6.81 – change 7.92%
National Oilwell Varco (NOV) up 0.54 at 13.63 – change 4.12%
Occidental Petroleum (OXY) up 0.97 at 17.89 – change 5.73%
Parsley Energy (PE) up 0.52 at 14.02 – change 3.85%
Phillips 66 (PSX) up 1.85 at 69.36 – change 2.74%
Pioneer Natural Resources (PXD) up 4.68 at 113.12 – change 4.31%
Valero (VLO) up 2.09 at 55.79 – change 3.89%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.69 at 80.70 – change 0.85%
CenterPoint (CNP) up 0.68 at 21.50 – change 3.26%
Entergy (ETR) down 0.54 at 95.47- change 0.57%
