Crude oil prices made another big gain in Wednesday’s trading finishing close to $64 a barrel in the US and more than $67 a barrel in Europe. It was their highest finish in six weeks and at the same time, Oklahoma energy stocks soared.
Investors responded a day after OPEC+ decided to continue gradually easing production curbs. Analysts say it signaled confidence in the demand outlook despite soaring COVID-19 cases in India.
West Texas Intermediate crude for June delivery rose 92 cents to close at $63.86 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for June delivery finished up 85 cents at $67.27 a barrel on ICE Futures Europe.
May natural gas rose 6 cents to $2.93 per 1,000 cubic feet.
Of Oklahoma energy stocks, Devon Energy led the way with a gain of 8.49% on a $1.88 increase to $24.03.
Cypress Environmental Partners LP gained 8.41% on an 18 cent climb to $2.32.
But while they were leaders for the day in their big gains, Mammoth Energy Services lost 10.61% on a 45 cent tumble to $3.79.
Alliance Resource Partners, L.P. dropped 13 cents for a 2.16% loss to $5.90.
Chevron (CVX) up 2.52 at 105.22 – change 2.45%
ConocoPhillips (COP) up 1.74 at 53.04 – change 3.39%
Diamondback Energy (FANG) up 4.36 at 83.68 – change 5.50%
Energy Transfer LP (ET) up 0.19 at 8.60 – change 2.26%
Enterprise Products Partners (EPD) up 0.37 at 23.64 – change 1.59%
EOG Resources (EOG) up 3.30 at 74.98 – change 4.60%
ExxonMobil (XOM) up 1.70 at 58.11 – change 3.01%
Kinder Morgan (KMI) up 0.44 at 17.44 – change 2.59%
Marathon Oil Corp. (MRO) up 0.71 at 11.75 – change 6.43%
National Oilwell Varco (NOV) up 1.30 at 14.88 – change 9.57%
Occidental Petroleum (OXY) up 1.01 at 26.10 – change 4.03%
Phillips 66 (PSX) up 2.00 at 80.10 – change 2.56%
Pioneer Natural Resources (PXD) up 6.15 at 157.22 – change 4.07%
Valero (VLO) up 2.30 at 74.12 – change 3.20%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.47 at 86.73 – change 0.54%
CenterPoint (CNP) up 0.13 at 23.94 – change 0.55%
Entergy (ETR) up 0.04 at 106.58 – change 0.04%