Major drops in crude oil prices were recorded Wednesday as they fell to their lowest since October and Oklahoma energy stocks suffered as well.
It’s a sign of growing worries after OPEC and the International Energy Agency warned this week of a forthcoming oversupply. COVID-19 is still a stickler as the rising number of cases in Europe has only raised the downside risks to demand recovery.
West Texas Intermediate crude oil for December delivery fell $2.40 to $78.36 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for January delivery took a $2.15 slide to $80.28 per barrel on ICE Futures Europe.
Natural gas for December delivery also declined, falling 36 cents to $4.82 per 1,000 cubic feet.
Most Oklahoma energy stocks suffered losses for the day with only a few exceptions. Big losers for the day included Mammoth Energy at nearly 9%, PHX Minerals at 6% and SandRidge Energy at 5%.
Cheniere (LNG) down 1.35 at 104.89 – change 1.28%
Chevron (CVX) down 0.52 at 115.42 – change 0.45%
ConocoPhillips (COP) down 0.67 at 71.97 – change 0.93%
Diamondback Energy (FANG) down 2.94 at 107.24 – change 2.67%
Energy Transfer LP (ET) down 0.26 at 8.98 – change 2.82%
Enterprise Products Partners (EPD) down 0.72 at 22.38 – change 3.12%
EOG Resources (EOG) down 1.82 at 90.08 – change 1.99%
ExxonMobil (XOM) down 0.71 at 64.31 – change 1.10%
Kinder Morgan (KMI) down 0.15 at 16.51 – change 0.91%
Marathon Oil Corp. (MRO) down 0.63 at 16.09 – change 3.77%
National Oilwell Varco (NOV) down 0.69 at 12.82 – change 5.11%
Occidental Petroleum (OXY) down 1.08 at 30.76 – change 3.40%
Phillips 66 (PSX) down 2.31 at 74.68 – change 3.01%
Pioneer Natural Resources (PXD) down 2.82 at 180.25 – change 1.55%
Valero (VLO) down 3.51 at 73.45 – change 4.57%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.68 at 83.24 – change 0.82%
CenterPoint (CNP) up 0.09 at 26.70 – change 0.33%
Entergy (ETR) up 0.46 at 105.78 – change 0.43%