For the second consecutive trading session this week and the fourth in the past week, oil prices dropped in Tuesday’s trading falling about 1% in both the US and Europe. The slump also resulted in losses for many Oklahoma energy stocks.
Analysts credited Tuesday’s slip to surging cases of coronavirus in Japan and a weak demand in Asia.
West Texas Intermediate crude for September delivery fell 1% or 70 cents to finish at $66.59 a barrel.
Global benchmark Brent crude for October delivery slipped 0.7% of a percent after a 48 cent slide to $69.03 on ICE Futures Europe.
It resulted in a weak trading day for Oklahoma energy stocks with Matrix Services falling more than 6% and NGL slipping more than 5% while Unit Corporation bounced upward more than 10%.
8.05 USD −0.18 (2.19%)
3.23 USD −0.020 (0.62%)
54.77 USD −1.06 (1.90%)
62.37 USD +0.100 (0.16%)
35.06 USD −0.020 (0.057%)
1.66 USD −0.040 (2.35%)
26.91 USD −0.26 (0.96%)
7.89 USD −0.12 (1.50%)
64.81 USD −0.20 (0.31%)
25.57 USD −0.68 (2.59%)
8.57 USD −0.12 (1.38%)
40.82 USD +0.26 (0.64%)
48.34 USD −0.33 (0.68%)
3.42 USD +0.030 (0.88%)
10.50 USD −0.71 (6.33%)
1.40 USD −0.080 (5.41%)
35.95 USD +0.040 (0.11%)
73.14 USD +0.17 (0.23%)
51.28 USD −0.47 (0.91%)
23.75 USD +0.26 (1.11%)
2.60 USD −0.10 (3.70%)
8.23 USD −0.41 (4.75%)
21.00 USD +2.00 (10.53%)
24.48 USD −0.13 (0.53%)
Many other energy firms had losses on Tuesday according to the Texas Energy Report.
Cabot Oil & Gas (COG) up 0.03 at 15.50 – change 0.19%
Chevron (CVX) down 0.19 at 100.73 – change 0.19%
ConocoPhillips (COP) down 0.29 at 54.52 – change 0.53%
Diamondback Energy (FANG) down 0.66 at 71.88 – change 0.91%
Energy Transfer LP (ET) down 0.19 at 9.32 – change 2.00%
Enterprise Products Partners (EPD) down 0.20 at 22.22 – change 0.90%
EOG Resources (EOG) up 0.05 at 65.97 – change 0.07%
ExxonMobil (XOM) down 0.38 at 55.56 – change 0.68%
Kinder Morgan (KMI) down 0.25 at 16.75 – change 1.48%
Marathon Oil Corp. (MRO) down 0.13 at 11.49 – change 1.12%
National Oilwell Varco (NOV) down 0.26 at 12.61 – change 2.03%
Occidental Petroleum (OXY) down 0.71 at 24.08 – change 2.87%
Phillips 66 (PSX) down 0.98 at 69.97 – change 1.39%
Pioneer Natural Resources (PXD) down 2.59 at 145.00 – change 1.76%
Valero (VLO) down 1.03 at 63.51 – change 1.60%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.24 at 90.54 – change 0.26%
CenterPoint (CNP) up 0.06 at 26.85 – change 0.22%
Entergy (ETR) down 0.18 at 110.10 – change 0.17%