Oil prices drop again–OK energy stocks hit hard

 

What to Do About Falling Oil Prices: Pivot Your Procurement and Supply Chain Strategy | GEP

 

An early rally failed Wednesday as crude oil prices sunk again, largely on growing worries about the Omicron variant and how it could cut demand as global supply grows. As a result, Oklahoma energy stocks took a pounding.

The decline occurred after U.S. government officials confirmed the variant had been discovered in California where a traveler recently returned from South Africa.

West Texas Intermediate crude fell 61 cents or nearly 1% to $65.57 a barrel in trading on the New York Mercantile Exchange.

Earlier in the day, WTI prices had been up nearly 4%.

Global benchmark Brent Crude fell 36 cents or half a percentage point to settle at $68.87 a barrel on ICE Futures Europe.

Oklahoma energy stocks suffered on Wednesday with an 8% loss recorded by Gulfport Energy, 7% losses by Laredo Petroleum, NGL Energy and PHX Minerals and 5% losses by a handful of others.

 

Alliance Resource Partners, L.P.
NASDAQ: ARLP
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9.92 USD −0.31 (3.03%)
Blueknight Energy Partners LP Common Stock
NASDAQ: BKEP
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3.28 USD 0.00 (0.00%)
Chesapeake Energy Ord Shs
NASDAQ: CHK
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57.00 USD −2.54 (4.27%)
Continental Resources, Inc.
NYSE: CLR
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42.68 USD −1.66 (3.74%)
Coterra Energy Inc
NYSE: CTRA
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19.74 USD −0.34 (1.69%)
Cypress Environmental Partners LP
NYSE: CELP
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1.28 USD −0.030 (2.29%)
Devon Energy Corp
NYSE: DVN
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40.84 USD −1.16 (2.76%)
Enable Midstream Partners LP
NYSE: ENBL
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6.95 USD −0.19 (2.66%)
Gulfport Energy Corp
NYSE: GPOR
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67.12 USD −5.87 (8.04%)
Helmerich & Payne, Inc.
NYSE: HP
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21.28 USD −1.19 (5.30%)
LSB Industries, Inc.
NYSE: LXU
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9.00 USD −0.010 (0.11%)
Laredo Petroleum Inc
NYSE: LPI
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54.30 USD −4.60 (7.81%)
Magellan Midstream Partners, L.P.
NYSE: MMP
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45.74 USD −0.64 (1.38%)
Mammoth Energy Services Inc
NASDAQ: TUSK
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1.99 USD +0.060 (3.11%)
Matrix Service Co
NASDAQ: MTRX
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8.26 USD −0.43 (4.95%)
NGL Energy Partners LP
NYSE: NGL
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1.90 USD −0.14 (6.86%)
OGE Energy Corp.
NYSE: OGE
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34.52 USD +0.19 (0.55%)
ONE Gas Inc
NYSE: OGS
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64.50 USD −0.33 (0.51%)
ONEOK, Inc.
NYSE: OKE
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58.65 USD −1.18 (1.97%)
Ovintiv Inc
NYSE: OVV
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32.72 USD −2.02 (5.83%)
PHX Minerals Inc
NYSE: PHX
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2.31 USD −0.17 (6.85%)
SandRidge Energy Inc.
NYSE: SD
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10.03 USD −0.60 (5.64%)
Units Ord Shs
OTCMKTS: UNTC
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34.70 USD −0.15 (0.43%)
Williams Companies Inc
NYSE: WMB
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26.64 USD −0.16 (0.60%)
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