US crude bounces up close to $64

  • March 4, 2021

 

Crude oil prices had another big jump in Thursday’s trading in apparent continued response to reports that OPEC+ might not increase its oil production from April as widely speculated.

West Texas Intermediate crude for April delivery rose $2.55 finish the day at $63.83 a barrel. That’s a nearly 3-dollar-a-barrel increase since earlier in the week when prices dropped closer to the $60 mark.

Global benchmark Brent crude oil for May delivery went up $2.67 to settle at $66.74 a barrel on ICE Futures Europe.

 April natural gas fell 7 cents to $2.75 per 1,000 cubic feet.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

Oklahoma energy stocks had two responses. Continental Resources Inc. saw the biggest gain of the day at 10.26% as stocks rose $2.68 to close at $28.80.

The other side of the issue was the more than 21% loss suffered by SandRidge Energy after it released its quarterly and 2002 financial results showing dramatic losses. Stocks fell $1.14 for a loss of 21.55% to $4.15.

Here’s how others did.

Alliance Resource Partners, L.P. dropped 18 cents for a 3% loss to $5.81.
Blueknight Energy Partners LP fell 2 cents or less than 1% to $2.22.
Chesapeake Energy suffered a 2.26% loss when stocks dropped $1.07 to $46.18.
Cimarex Energy went up $1.68 for a 2.71% gain to $63.69.
Cypress Environmental Partners closed down 30 cents for a 9.26% loss to $2.94.
CVR Energy, Inc. rose $1.12 for a nearly 5% gain to $23.83.
Devon Energy rose 93 cents for a 4.10% gain to $23.62.
Enable Midstream Partners LP gained 1.64% on an 11-cent increase to $6.81.
Gulfport Energy Corporation gained 2.56% to $0.080 cents.
Helmerich & Payne, Inc. rose 30 cents for a 1% gain to $28.82.
LSB Industries settled down 37 cents at $3.87 for a loss of nearly 9%.
Laredo Petroleum had a 61 cent increase to $34.11 for a gain of nearly 2%.
Magellan Midstream Partners, L.P. gained 1.41% on a 62 cent increase to $44.63.
Mammoth Energy Services loss more than 5% on a 31 cent drop to $5.72.
Matrix Service Co dropped 18 cents to close at $14.01 for a 1.27% lossl
NGL Energy Partners LP went up 11 cents for a more than 4% gain to $2.71.
OGE Energy Corp added 67 cents for a 2.23% gain to $30.76.
ONE Gas Inc fell 9 cents to $68.79, a loss of 0.13%.
ONEOK shares went up 51 cents to $48.25 for a gain of a little more than 1%.
Ovintiv Inc picked up $1.67 to reach $27.30 for a gain of 6.52%.
PHX Minerals Inc. dropped 11 cents to $3.23, a loss of more than 3%.
Williams Companies Inc finished the day up 37 cents at $24.11 for a gain of 1.56%.
 The Texas Energy Report had other energy stocks.

Chevron (CVX) up 0.91 at 104.50 – change 0.88%

ConocoPhillips (COP) up 1.96 at 55.62 – change 3.65%

Diamondback Energy (FANG) up 6.82 at 81.26 – change 9.18%

Energy Transfer LP (ET) up 0.17 at 8.04 – change 2.16%

Enterprise Products Partners (EPD) up 0.49 at 22.92 – change 2.18%

EOG Resources (EOG) up 4.44 at 71.43 – change 6.63%

ExxonMobil (XOM) up 2.19 at 58.71 – change 3.87%

Kinder Morgan (KMI) up 0.52 at 15.69 – change 3.43%

Marathon Oil Corp. (MRO) up 0.73 at 12.36 – change 6.28%

National Oilwell Varco (NOV) up 0.40 at 15.42 – change 2.66%

Occidental Petroleum (OXY) up 1.24 at 29.90 – change 4.33%

Phillips 66 (PSX) up 0.57 at 84.41 – change 0.68%

Pioneer Natural Resources (PXD) up 4.41 at 158.67 – change 2.86%

Valero (VLO) down 1.16 at 76.37 – change 1.50%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.93 at 77.25 – change 1.22%

CenterPoint (CNP) up 0.42 at 19.87 – change 2.16%

Entergy (ETR) up 0.16 at 87.59 – change 0.18%

Jerry Bohnen