So much for Biden’s move to bring down crude oil prices

jessica jaganathan: Oil prices climb as U.S. ramps up economic support measures, Energy News, ET EnergyWorld

 

If President Biden thought his decision to release 50 million barrels of oil from the nation’s Petroleum Strategic Reserve would have an immediate impact on crude prices…he was right. They went up on Tuesday hours after his announcement. And Oklahoma energy stocks responded in kind with many firms reporting 5 to 8% gains for the day and one making an amazing 20% jump.

West Texas Intermediate crude for January delivery rose $1.75 to finish at $78.50 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude for January delivery soared $2.61 a barrel and closed at $82.31 a barrel on ICE Futures Europe.

Natural gas for December delivery also rose, going up 18 cents to close at $4.97 per 1,000 cubic feet.

Most Oklahoma energy stocks had a strong day in Tuesday’s trading with some of the majors such as Continental Resources with a more than 8% jump and Devon nearly 6%. Cypress Environmental scored a whopping 20% gain for the day.

 

Alliance Resource Partners, L.P.
NASDAQ: ARLP
Follow
11.02 USD +0.50 (4.75%)
Blueknight Energy Partners LP Common Stock
NASDAQ: BKEP
Follow
3.32 USD +0.030 (0.91%)
Chesapeake Energy Ord Shs
NASDAQ: CHK
Follow
63.94 USD +3.16 (5.26%)
Continental Resources, Inc.
NYSE: CLR
Following
49.50 USD +3.80 (8.32%)
Coterra Energy Inc
NYSE: CTRA
Follow
21.00 USD +0.040 (0.19%)
Cypress Environmental Partners LP
NYSE: CELP
Follow
1.66 USD +0.28 (20.29%)
Devon Energy Corp
NYSE: DVN
Follow
43.44 USD +2.28 (5.54%)
Enable Midstream Partners LP
NYSE: ENBL
Follow
7.64 USD +0.13 (1.73%)
Gulfport Energy Corp
NYSE: GPOR
Follow
79.80 USD +1.54 (2.12%)
Helmerich & Payne, Inc.
NYSE: HP
Following
25.59 USD +0.76 (3.06%)
LSB Industries, Inc.
NYSE: LXU
Follow
10.30 USD +0.17 (1.68%)
Laredo Petroleum Inc
NYSE: LPI
Follow
66.45 USD +3.58 (5.49%)
Magellan Midstream Partners, L.P.
NYSE: MMP
Follow
47.15 USD −0.14 (0.30%)
Mammoth Energy Services Inc
NASDAQ: TUSK
Follow
1.81 USD −0.23 (11.27%)
Matrix Service Co
NASDAQ: MTRX
Follow
9.77 USD +0.32 (3.39%)
NGL Energy Partners LP
NYSE: NGL
Follow
2.17 USD +0.040 (1.88%)
OGE Energy Corp.
NYSE: OGE
Follow
35.45 USD +0.020 (0.056%)
ONE Gas Inc
NYSE: OGS
Follow
67.97 USD +0.040 (0.059%)
ONEOK, Inc.
NYSE: OKE
Follow
64.01 USD +2.07 (3.34%)
Ovintiv Inc
NYSE: OVV
Follow
36.94 USD +1.67 (4.73%)
PHX Minerals Inc
NYSE: PHX
Follow
2.73 USD +0.090 (3.41%)
SandRidge Energy Inc.
NYSE: SD
Follow
12.09 USD +0.49 (4.22%)
Units Ord Shs
OTCMKTS: UNTC
Follow
34.60 USD +1.10 (3.28%)
Williams Companies Inc
NYSE: WMB
Follow
28.08 USD +0.48 (1.74%)
Can Crude Oil Touch the $100 Golden Mark? 3 Stocks to Gain
Strong gains were made by other energy stocks according to the Texas Energy Report. One of the biggest gains was more than 7% by Apache while National Oilwell Varco had just under a 7% gain.

Apache (APA) up 1.94 at 28.47 – change 7.31%

Cheniere (LNG) up 2.00 at 104.85 – change 1.94%

Chevron (CVX) up 2.39 at 116.30 – change 2.09%

ConocoPhillips (COP) up 1.89 at 73.78 – change 2.62%

Diamondback Energy (FANG) up 4.72 at 110.19 – change 4.47%

Energy Transfer LP (ET) up 0.13 at 8.94 – change 1.47%

Enterprise Products Partners (EPD) down 0.02 at 21.99 – change 0.10%

EOG Resources (EOG) up 5.05 at 91.76 – change 5.82%

ExxonMobil (XOM) up 1.62 at 63.13 – change 2.63%

Kinder Morgan (KMI) up 0.22 at 16.32 – change 1.36%

Marathon Oil Corp. (MRO) up 0.85 at 16.51 – change 5.42%

National Oilwell Varco (NOV) up 0.83 at 12.92 – change 6.86%

Occidental Petroleum (OXY) up 1.91 at 31.92 – change 6.36%

Phillips 66 (PSX) up 1.64 at 73.83 – change 2.27%

Pioneer Natural Resources (PXD) up 7.58 at 188.06 – change 4.19%

Valero (VLO) up 1.90 at 72.55 – change 2.68%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.01 at 84.31 – change 0.01%

CenterPoint (CNP) down 0.01 at 26.61 – change 0.04%

Entergy (ETR) down 1.00 at 106.30 – change 0.94%

%d bloggers like this: