Oil prices continue their climb as storage falls in US

 

Crude oil futures continued their slow ascent in Wednesday’s trading as West Texas Intermediate crude for March delivery settled up 32 cents at $58.68 a barrel.

Global benchmark Brent crude for April delivery increased 38 cents to finish the day at $61.47 on ICE Futures Europe. The increased crude prices came on a day when crude storage volumes across the U.S. were down.

The prices also appear to be luring more firms to reactivate their rigs to return to exploration, not only just in Oklahoma but across the nation.

As a result, most Oklahoma energy stocks had a good day on Wednesday with Gulfport Energy Corporation and Helmerich & Payne showing the biggest gains of the day.

While Gulfport Energy is still in the midst of a Chapter 11 bankruptcy filed last November, its stock has traded in the 8 to 10 cent a share range. On Wednesday, the company had a 10.34% gain as shares rose to more than 9 cents but not quite a dime.

Helmerich & Payne saw a nearly 9% gain when shares jumped up $2.27 to end the day at $28.20. The gain came after the Tulsa company reported a $70 million first quarter loss but an increase in rigs being reactivated for the field.

Chesapeake Energy Corporation had a 1.67% gain as shares rose 79 cents to $50.46.
Continental Resources, Inc. went up about 5% on a $1.06 increase to $23.10.
Cypress Environmental Partners LP gained about 5% with a 15 cent increase to $3.25.
Devon Energy Corp went up 4.56% with an 86 cent increase to $19.73.
Enable Midstream Partners LP gained 1.54% on a 9 cent hike to $5.93.
Laredo Petroleum Inc finished up 53 cents at $33.78 for a gain of 1.59%.
Mammoth Energy Services Inc was unchanged at $4.51.
Matrix Service Co closed at $13.04 for a 43 cent increase and a gain of 3.41%.
OGE Energy Corp. gained 2.49% after stocks increased 77 cents to finish the day at $31.70.
ONE Gas Inc went up $1.19 for a 1.64% gain to $73.73.
ONEOK, Inc. gained 3.21% on a $1.39 increase to $44.75.
Ovintiv Inc increased 11 cents to close at $20.09 with a gain of about half a point.
Williams Companies Inc closed up 55 cents for a 2.47% gain to $22.81.

Other Oklahoma companies reported losses for the day including Alliance Resource Partners, L.P. where shares dropped 7 cents for a 1.14% fall to $6.07.

LSB Industries, Inc. lost 11 cents for a 2.46% fall to $4.37.

Magellan Midstream Partners, L.P. dropped 5 cents to $41.12, a fall of only 0.12%.
NGL Energy Partners LP suffered a loss of 7.58% as stocks fell 20 cents to $2.44.
PHX Minerals Inc went down 15 cents to $3.17 for a loss of
SandRidge Energy Inc. lost 15 cents and settled at $5.26 for a slide of 2.77%.
 Other stocks had the same kind of day according to listings by the Texas Energy Report.

Chevron (CVX) up 1.59 at 92.52 – change 1.75%

ConocoPhillips (COP) up 0.40 at 47.25 – change 0.85%

Diamondback Energy (FANG) down 1.91 at 68.88 – change 2.85%

Energy Transfer LP (ET) up 0.05 at 6.83 – change 0.74%

Enterprise Products Partners (EPD) up 0.21 at 21.43 – change 0.99%

EOG Resources (EOG) up 1.99 at 60.21 – change 3.42%

ExxonMobil (XOM) up 0.49 at 51.12 – change 0.97%

Kinder Morgan (KMI) up 0.22 at 14.79 – change 1.51%

Marathon Oil Corp. (MRO) up 0.20 at 9.09 – change 2.25%

National Oilwell Varco (NOV) up 0.38 at 13.85 – change 2.82%

Occidental Petroleum (OXY) up 0.95 at 25.60 – change 3.85%

Phillips 66 (PSX) up 2.23 at 76.72 – change 2.99%

Pioneer Natural Resources (PXD) up 3.31 at 132.35 – change 2.57%

Valero (VLO) up 1.50 at 65.11 – change 2.36%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.17 at 80.01 – change 0.21%

CenterPoint (CNP) up 0.19 at 21.46 – change 0.89%

Entergy (ETR) up 1.07 at 96.01 – change 1.13%