With a drop of 431,000 barrels in storage in the past week in the US, crude prices rallied Wednesday with West Texas Intermediate settling close to $84 while overseas prices finished at nearly $86 a barrel.
West Texas Intermediate crude for November delivery closed up 1.1% or 91 cents at $83.87 a barrel on the New York Mercantile Exchange. WTI for December delivery finished up 98 cents at $83.42 a barrel.
Brent crude for December delivery gained 74 cents or 0.95 to close at $85.82 a barrel on ICE Futures Europe, the highest close since October 2018.
Some gains were made by Oklahoma energy stocks including SandRidge Energy which posted a more than 5% improvement for the day.
Apache (APA) up 0.59 at 27.45 – change 2.19%
Cheniere (LNG) down 4.14 at 104.15 – change 3.83%
Chevron (CVX) up 1.46 at 113.16 – change 1.30%
ConocoPhillips (COP) up 0.70 at 76.02 – change 0.96%
Diamondback Energy (FANG) up 0.21 at 111.15 – change 0.18%
Energy Transfer LP (ET) up 0.12 at 10.19 – change 1.19%
Enterprise Products Partners (EPD) up 0.22 at 24.69 – change 0.89%
EOG Resources (EOG) up 2.94 at 93.10 – change 3.26%
ExxonMobil (XOM) up 0.35 at 63.85 – change 0.55%
Kinder Morgan (KMI) up 0.20 at 18.64 – change 1.08%
Marathon Oil Corp. (MRO) up 0.10 at 16.48 – change 0.61%
National Oilwell Varco (NOV) up 0.15 at 15.50 – change 0.97%
Occidental Petroleum (OXY) up 0.42 at 33.36 – change 1.27%
Phillips 66 (PSX) up 0.54 at 83.32 – change 0.65%
Pioneer Natural Resources (PXD) up 1.15 at 192.05 – change 0.60%
Valero (VLO) up 0.89 at 81.04 – change 1.11%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.10 at 84.90 – change 1.31%
CenterPoint (CNP) up 0.47 at 26.63 – change 1.79%
Entergy (ETR) up 1.99 at 104.05 – change 1.94%