It was though the markets didn’t know quite how to respond to President Biden’s move to freeze new oil and gas drilling on federal lands.
Oil prices showed little change even after U.S. crude oil stocks dropped by close to 10 million barrels last week, reaching their lowest levels since March.
U.S. West Texas Intermediate crude for February delivery rose 24 cents and settled at $52.85 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude fell 10 cents and ended the day at $55.81 a barrel in trading on ICE Futures March.
But Biden’s latest move, considered a job-killer by his critics, left Oklahoma energy stocks mixed.
Two of the majors, Chesapeake Energy and Continental Resources reported significant increases in stocks.
Continental Resources saw a gain of 11.55% as shares increased $2.18 to reach $21.06 for the day.
Chesapeake Energy Corporation shares finished with a 11.51% gain after stocks rose 48 cents and closed at $4.65.
Other Oklahoma stocks weren’t as fortunate and many suffered losses for the day.
Alliance Resource Partners, L.P. finished up 3 cents for a 0.58% gain to $5.16.
Blueknight Energy Partners LP Common Stock fell about 1% with a 2 cent drop to $2.02.
Cimarex Energy Co lost $1.17 for a 2.69% slide to $42.32.
Cypress Environmental Partners LP fell 4 cents for a 1.46% loss to $2.70.
Devon Energy Corp finished with a 2.20% gain after shares rose 37 cents to $17.21.
Enable Midstream Partners LP dropped 13 cents for a 2.32% loss to $5.47.
Gulfport Energy Corporation lost about 6% and finished the day at 9 cents.
Helmerich & Payne, Inc. finished with a 58 cent jump and a 2.36% gain to $25.14.
LSB Industries, Inc. dropped by 14 cents to $3.73, a loss of nearly 4%.
Laredo Petroleum Inc fell 95 cents for a nearly 4% loss to $23.69.
Magellan Midstream Partners, L.P. lost $1.05 or 2.31% to settle at 44.41.
Mammoth Energy Services Inc finished the day unchanged at $4.26.
Matrix Service Co finished down 82 cents for a more than 6% loss to $12.43.
NGL Energy Partners LP closed up 8 cents for a 3% gain to $2.81.
OGE Energy Corp. lost 85 cents for a nearly 3% drop to $30.72.
ONE Gas Inc closed up $2.29 for a 3.17% gain to $74.60.
ONEOK, Inc. fell $1.57 for a nearly 4% loss to $40.55.
Ovintiv Inc lost 33 cents for a 2% fall to $16.15.
PHX Minerals Inc slipped 5 cents for about a 2% fall to $2.95.
SandRidge Energy Inc. finished with a 7 cent increase or 1.56% gain to $4.55.
Williams Companies Inc dropped 23 cents for a 1.07% loss to $21.21.
Other energy stocks had the same kind of day according to the Texas Energy Report.
Chevron (CVX) down 1.17 at 88.19 – change 1.30%
ConocoPhillips (COP) down 1.03 at 40.65 – change 2.48%
Diamondback Energy (FANG) down 3.02 at 56.59 – change 5.07%
Energy Transfer LP (ET) down 0.15 at 6.47 – change 2.27%
Enterprise Products Partners (EPD) down 0.53 at 20.73 – change 2.50%
EOG Resources (EOG) up 1.52 at 55.01 – change 2,84%
ExxonMobil (XOM) down 0.52 at 45.35 – change 1.14%
Kinder Morgan (KMI) down 0.40 at 14.82 – change 2.63%
Marathon Oil Corp. (MRO) up 0.07 at 7.54 – change 0.93%
National Oilwell Varco (NOV) down 0.40 at 12.22 – change 3.17%
Occidental Petroleum (OXY) up 0.20 at 20.58 – change 0.98%
Phillips 66 (PSX) down 0.11 at 71.20 – change 0.16%
Pioneer Natural Resources (PXD) down 6.01 at 117.63 – change 4.87%
Valero (VLO) up 0.57 at 58.73 – change 0.99%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 1.38 at 80.44 – change 1.69%
CenterPoint (CNP) down 1.10 at 20.86 – change 4.97%
Entergy (ETR) down 1.08 at 93.61 – change 1.15
