Crude prices weaken but remain strong while Oklahoma energy stocks give up gains

Oil Prices Drop But Stay Above $70 a Barrel

 

Crude oil prices took slight dips in trading in Tuesday after Brent oil topped $80 per barrel for the first time in nearly three years. Oklahoma energy stocks had a weak day as well.

Considered a global benchmark, Brent crude slipped 44 cents or 0.6% to $79.09 a barrel after climbing to as high as $80.75 earlier in the day, the highest mark since October 2018.

The market’s five-day rally on oil prices finally ran out of steam as investors locked in profits.

West Texas Intermediate crude dropped 16 cents or 0.2% and settled at $75.29 a barrel. WTI had earlier reached a session high of $76.67, the highest price since July.

Investors could remain anxious as fuel demand grows and they expect major oil-producing countries to decide whether to keep supplies restricted when the Organization of the Petroleum Exporting Countries meets next week.

Oklahoma energy stocks couldn’t maintain their gains and all but three firms saw losses for the day. Only Devon Energy, PHX Minerals and Williams Cos. recorded slight gains. LSB Industries had the highest loss at more than 5%.

 

Alliance Resource Partners, L.P.
NASDAQ: ARLP
10.20 USD −0.020 (0.20%)
Blueknight Energy Partners LP Common Stock
NASDAQ: BKEP
3.09 USD −0.020 (0.64%)
Chesapeake Energy Ord Shs
NASDAQ: CHK
62.10 USD −0.38 (0.61%)
Cimarex Energy Co
NYSE: XEC
87.26 USD −0.99 (1.12%)
Continental Resources, Inc.
NYSE: CLR
46.67 USD −0.40 (0.85%)
Cypress Environmental Partners LP
NYSE: CELP
1.51 USD −0.020 (1.31%)
Devon Energy Corp
NYSE: DVN
35.13 USD +0.13 (0.37%)
Enable Midstream Partners LP
NYSE: ENBL
8.03 USD −0.15 (1.83%)
Gulfport Energy Corp
NYSE: GPOR
82.79 USD −0.20 (0.24%)
Helmerich & Payne, Inc.
NYSE: HP
27.66 USD −0.18 (0.65%)
LSB Industries, Inc.
NYSE: LXU
10.43 USD −0.58 (5.27%)
Laredo Petroleum Inc
NYSE: LPI
87.78 USD −2.38 (2.64%)
Magellan Midstream Partners, L.P.
NYSE: MMP
47.11 USD −0.48 (1.01%)
Mammoth Energy Services Inc
NASDAQ: TUSK
3.05 USD −0.030 (0.97%)
Matrix Service Co
NASDAQ: MTRX
10.58 USD −0.11 (1.03%)
NGL Energy Partners LP
NYSE: NGL
2.43 USD −0.0100 (0.41%)
OGE Energy Corp.
NYSE: OGE
32.94 USD −0.47 (1.41%)
ONE Gas Inc
NYSE: OGS
63.30 USD −0.51 (0.80%)
ONEOK, Inc.
NYSE: OKE
58.28 USD −0.62 (1.05%)
Ovintiv Inc
NYSE: OVV
32.94 USD −0.080 (0.24%)
PHX Minerals Inc
NYSE: PHX
3.08 USD +0.0100 (0.33%)
SandRidge Energy Inc.
NYSE: SD
12.94 USD −0.40 (3.00%)
Units Ord Shs
OTCMKTS: UNTC
30.75 USD −0.55 (1.76%)
Williams Companies Inc
NYSE: WMB
26.08 USD +0.040 (0.15%)

West Texas Oil Price Drops Below Zero Dollars as Coronavirus Results in Historic Demand Downturn | The Texan

 

The Texas Energy Report indicated other energy stocks were mixed for the day—some had gains while others recorded losses.

Apache (APA) down 1.57 at 21.69 – change 6.75%

Cabot Oil & Gas (COG) down 0.24 at 21.82 – change 1.09%

Cheniere (LNG) up 0.92 at 96.93 – change 0.95%

Chevron (CVX) up 0.39 at 103.36 – change 0.37%

ConocoPhillips (COP) up 1.09 at 67.80 – change 1.63%

Diamondback Energy (FANG) down 0.50 at 94.98 – change 0.53%

Energy Transfer LP (ET) down 0.12 at 9.51 – change 1.25%

Enterprise Products Partners (EPD) down 0.04 at 21.78 – change 0.19%

EOG Resources (EOG) down 0.08 at 81.73 – change 0.10%

ExxonMobil (XOM) up 0.62 at 59.92 – change 1.04%

Kinder Morgan (KMI) down 0.09 at 16.89 – change 0.54%

Marathon Oil Corp. (MRO) up 0.10 at 13.76 – change 0.73%

National Oilwell Varco (NOV) down 0.01 at 13.44 – change 0.08%

Occidental Petroleum (OXY) down 0.29 at 29.90 – change 0.97%

Phillips 66 (PSX) down 0.22 at 70.91 – change 0.31%

Pioneer Natural Resources (PXD) up 1.52 at 169.54 – change 0.90%

Valero (VLO) up 0.39 at 71.17 – change 0.55%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.08 at 81.28 – change 0.10%

CenterPoint (CNP) down 0.47 at 24.95 – change 1.85%

Entergy (ETR) down 0.76 at 99.26 – change 0.76%