The surge in COVID-19 cases across the globe was blamed for a drop on Friday of crude oil prices, resulting in the biggest week of losses in more than nine months. Can they rebound as the industry prepares for another week of trading?
West Texas Intermediate crude for September delivery dropped $1.37 or 2.2% to settle at $62.32 a barrel on Friday. It was the seventh day for WTI to tumble and made for an 8.9% decline for the week.
Global benchmark Brent crude oil for October delivery fell $1.27 to finish at $65.18 a barrel on ICE Futures Europe.
More than a handful of Oklahoma energy stocks made gains in Friday’s trading including SandRidge Energy which posted a more than 8% increase in prices.
7.83 USD +0.24 (3.16%)
3.18 USD −0.14 (4.35%)
52.67 USD +0.70 (1.35%)
57.83 USD −0.71 (1.21%)
33.82 USD +0.34 (1.02%)
1.31 USD −0.050 (3.68%)
25.70 USD +0.36 (1.42%)
7.58 USD +0.17 (2.29%)
64.42 USD −0.34 (0.53%)
24.13 USD −0.12 (0.49%)
8.37 USD +0.090 (1.09%)
37.85 USD 0.00 (0.00%)
47.29 USD +0.52 (1.11%)
3.30 USD +0.100 (3.12%)
10.62 USD +0.16 (1.53%)
1.45 USD −0.030 (2.03%)
35.88 USD +0.49 (1.38%)
72.57 USD +0.45 (0.62%)
50.43 USD +1.18 (2.40%)
23.13 USD +0.50 (2.21%)
2.49 USD −0.055 (2.16%)
8.54 USD +0.65 (8.24%)
21.48 USD +0.090 (0.42%)
24.04 USD +0.15 (0.63%)
Only slight gains were reported by other energy stocks according to the Texas Energy Report.
Cabot Oil & Gas (COG) down 0.17 at 14.42 – change 1.17%
Chevron (CVX) up 0.01 at 94.30 – change 0.01%
ConocoPhillips (COP) up 0.33 at 52.77 – change 0.62%
Diamondback Energy (FANG) up 0.30 at 68.18 – change 0.44%
Energy Transfer LP (ET) up 0.07 at 9.02 – change 0.78%
Enterprise Products Partners (EPD) up 0.28 at 21.58 – change 1.31%
EOG Resources (EOG) up 0.21 at 64.47 – change 0.32%
ExxonMobil (XOM) up 0.01 at 52.74 – change 0.02%
Kinder Morgan (KMI) up 0.05 at 15.94 – change 0.31%
Marathon Oil Corp. (MRO) up 0.04 at 10.72 – change 0.37%
National Oilwell Varco (NOV) up 0.11 at 12.19 – change 0.91%
Occidental Petroleum (OXY) down 0.15 at 21.95 – change 0.64%
Phillips 66 (PSX) down 0.32 at 65.95 – change 0.49%
Pioneer Natural Resources (PXD) up 0.85 at 141.32 – change 0.60%
Valero (VLO) down 0.04 at 60.20 – change 0.07%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.68 at 91.08 – change 0.75%
CenterPoint (CNP) up 0.42 at 26.34 – change 1.62%
Entergy (ETR) up 2.81 at 114.60 – change 2.51%