With U.S. crude oil stocks at their lowest levels in three years, prices rebounded in Wednesday’s trading and Oklahoma energy stocks enjoyed the ride up as well.
U.S. West Texas Intermediate crude futures finished up $1.74 or 2.5% settling at $72.23.
Global benchmark Brent crude also rose 2.5% with a $1.83 increase to finish the day at $76.19 a barrel on ICE Futures Europe.
The price increase comes as overall demand across the nation for fuel rebounded to pre-pandemic levels. Reports indicated that product supplied in the last four weeks came in at nearly 21 million barrels a day, close to the peak reported in 2019.
Most Oklahoma energy stocks recorded gains with the crude oil prices including a 7% gain by Laredo Petroleum.
9.35 USD +0.24 (2.63%)
3.12 USD +0.050 (1.63%)
58.56 USD +0.30 (0.51%)
77.48 USD +1.58 (2.08%)
42.49 USD +1.48 (3.61%)
1.45 USD +0.044 (3.13%)
30.44 USD +1.95 (6.84%)
7.81 USD +0.35 (4.69%)
78.00 USD −0.59 (0.75%)
25.71 USD +0.12 (0.47%)
9.43 USD −0.21 (2.18%)
76.53 USD +5.14 (7.20%)
46.30 USD −0.030 (0.065%)
2.73 USD +0.13 (5.00%)
9.81 USD +0.060 (0.62%)
2.11 USD +0.050 (2.43%)
33.55 USD +0.31 (0.93%)
64.54 USD +0.37 (0.58%)
54.85 USD +1.54 (2.89%)
29.59 USD +1.53 (5.45%)
2.78 USD +0.040 (1.46%)
10.91 USD +0.39 (3.71%)
30.50 USD −0.45 (1.45%)
25.03 USD +0.32 (1.30%)
The Texas Energy Report showed other energy stocks had the same kind of strong day.
Apache (APA) up 1.35 at 20.12 – change 7.19%
Cabot Oil & Gas (COG) up 0.38 at 19.36 – change 2.00%
Cheniere (LNG) up 2.18 at 89.92 – change 2.48%
Chevron (CVX) up 2.79 at 97.64 – change 2.94%
ConocoPhillips (COP) up 2.93 at 62.26 – change 4.93%
Diamondback Energy (FANG) up 4.34 at 84.38 – change 5.42%
Energy Transfer LP (ET) up 0.40 at 9.25 – change 4.51%
Enterprise Products Partners (EPD) up 0.22 at 21.74 – change 1.02%
EOG Resources (EOG) up 2.39 at 74.59 – change 3.30%
ExxonMobil (XOM) up 1.57 at 55.21 – change 2.92%
Kinder Morgan (KMI) up 0.35 at 16.13 – change 2.21%
Marathon Oil Corp. (MRO) up 0.61 at 12.02 – change 5.34%
National Oilwell Varco (NOV) down 0.04 at 12.38 – change 0.33%
Occidental Petroleum (OXY) up 1.32 at 26.75 – change 5.19%
Phillips 66 (PSX) up 2.67 at 67.01 – change 4.14%
Pioneer Natural Resources (PXD) up 2.10 at 150.05 – change 1.41%
Valero (VLO) up 2.00 at 65.31 – change 3.15%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.27 at 82.72 – change 0.33%
CenterPoint (CNP) down 0.36 at 24.56 – change 1.45%
Entergy (ETR) down 1.99 at 105.99 – change 1.85%