Higher crude output from OPEC producers along with weak economic data from the U.S. and China led to a Monday drop of crude oil prices. It was significant news because the two major countries are the top oil consumers in the world.
Prices dropped more than 3% led by a 3.6% fall for West Texas Intermediate crude for September delivery. It ended $2.69 down to finish the day at $71.26.
Global benchmark Brent crude oil for September delivery slid $2.52 or 3.3% and ended the day at $72.89 a barrel on ICE Futures Europe.
The impact on Oklahoma energy stocks was evident on the negative side as most suffered losses for the day. One exception was Laredo Petroleum which had a nearly 5% gain.
7.78 USD −0.16 (2.02%)
3.36 USD −0.090 (2.61%)
53.30 USD −0.75 (1.39%)
65.00 USD −0.20 (0.31%)
33.68 USD −0.50 (1.46%)
1.91 USD −0.0100 (0.52%)
25.49 USD −0.35 (1.35%)
8.24 USD −0.12 (1.44%)
68.18 USD +0.76 (1.13%)
28.02 USD −0.65 (2.27%)
8.80 USD 0.00 (0.00%)
52.51 USD −2.55 (4.63%)
46.90 USD +0.30 (0.63%)
3.74 USD +0.080 (2.19%)
10.71 USD −0.20 (1.83%)
1.92 USD 0.00 (0.00%)
34.06 USD +0.31 (0.92%)
74.31 USD +0.53 (0.72%)
51.35 USD −0.61 (1.17%)
25.27 USD −0.39 (1.52%)
2.95 USD −0.070 (2.32%)
6.05 USD +0.070 (1.17%)
19.25 USD +0.25 (1.32%)
24.94 USD −0.11 (0.44%)
Other energy stocks had the same kind of day according to the Texas Energy Report.
Cabot Oil & Gas (COG) up 0.12 at 16.12 – change 0.75%
Chevron (CVX) down 0.18 at 101.63 – change 0.18%
ConocoPhillips (COP) down 0.68 at 55.38 – change 1.21%
Diamondback Energy (FANG) down 0.38 at 76.75 – change 0.48%
Energy Transfer LP (ET) down 0.16 at 9.70 – change 1.62%
Enterprise Products Partners (EPD) down 0.22 at 22.35 – change 0.97%
EOG Resources (EOG) down 1.24 at 71.62 – change 1.70%
ExxonMobil (XOM) up 0.01 at 57.58 – change 0.02%
Kinder Morgan (KMI) down 0.06 at 17.32 – change 0.35%
Marathon Oil Corp. (MRO) down 0.29 at 11.30 – change 2.50%
National Oilwell Varco (NOV) down 0.15 at 13.66 – change 1.09%
Occidental Petroleum (OXY) down 0.31 at 25.79 – change 1.19%
Phillips 66 (PSX) up 0.07 at 73.48 – change 0.10%
Pioneer Natural Resources (PXD) down 2.96 at 142.35 – change 2.04%
Valero (VLO) down 0.57 at 66.40 – change 0.85%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.22 at 88.34 – change 0.25%
CenterPoint (CNP) up 0.09 at 25.55 – change 0.35%
Entergy (ETR) up 0.66 at 103.58 – change 0.64%