Crude oil suffered another major drop in prices on Monday as the U.S. Energy Information Administration predicted American oil production will increase in September to the highest level since May 2020. Oklahoma energy stocks dropped as well.
West Texas Intermediate crude for September delivery dropped $1.15 before settling at $67.29 a barrel.
Global benchmark Brent crude for October delivery fell $1.08 and finished the day at $60.51 a barrel on ICE Futures Europe.
As a result, Oklahoma energy stocks experienced losses including Cypress Environmental at nearly 9% and Laredo Petroleum close to 7%.
8.23 USD +0.080 (0.98%)
3.25 USD −0.060 (1.81%)
55.83 USD −0.96 (1.69%)
62.27 USD −1.77 (2.76%)
35.08 USD −1.53 (4.18%)
1.70 USD −0.16 (8.60%)
27.17 USD −0.84 (3.00%)
8.01 USD 0.00 (0.00%)
65.01 USD −1.51 (2.27%)
26.25 USD −1.07 (3.92%)
8.69 USD −0.52 (5.65%)
40.56 USD −2.98 (6.84%)
48.67 USD +0.23 (0.47%)
3.42 USD −0.040 (1.16%)
11.21 USD +0.23 (2.09%)
1.48 USD −0.050 (3.27%)
35.90 USD −0.39 (1.07%)
72.94 USD −0.40 (0.55%)
51.75 USD −0.70 (1.33%)
23.49 USD −0.77 (3.17%)
2.70 USD −0.17 (5.92%)
8.67 USD −0.090 (1.03%)
19.00 USD +1.00 (5.56%)
24.61 USD −0.22 (0.89%)
Other energy stocks also finished with losses according to the Texas Energy Report.
Cabot Oil & Gas (COG) down 0.35 at 15.47 – change 2.22%
Chevron (CVX) down 1.04 at 100.92 – change 1.03%
ConocoPhillips (COP) down 1.16 at 54.81 – change 2.08%
Diamondback Energy (FANG) down 3.10 at 72.54 – change 4.10%
Energy Transfer LP (ET) unchanged at 9.51 – change 0.00%
Enterprise Products Partners (EPD) down 0.10 at 22.42 – change 0.45%
EOG Resources (EOG) down 2.08 at 65.92 – change 3.06%
ExxonMobil (XOM) down 0.83 at 55.94 – change 1.47%
Kinder Morgan (KMI) down 0.21 at 17.00 – change 1.23%
Marathon Oil Corp. (MRO) down 0.43 at 11.67 – change 3.56%
National Oilwell Varco (NOV) down 0.36 at 12.87 – change 2.65%
Occidental Petroleum (OXY) down 1.00 at 24.79 – change 3.88%
Phillips 66 (PSX) down 2.04 at 71.84 – change 2.77%
Pioneer Natural Resources (PXD) down 4.01 at 147.59 – change 2.65%
Valero (VLO) down 1.71 at 64.54 – change 2.59%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.61 at 90.30 – change 0.68%
CenterPoint (CNP) down 0.11 at 26.79 – change 0.41%
Entergy (ETR) up 0.40 at 110.28 – change 0.36%