Omicron hits crude oil prices and Oklahoma energy stocks

WHO says omicron Covid variant has spread to 38 countries

 

Crude oil prices in the U.S. dropped below $70 a barrel as the Omicron coronavirus variant spread in Europe and across the U.S., creating more concerns from investors that fuel demand could be hurt by new restrictions. The fallout was felt by Oklahoma energy stocks.

West Texas Intermediate crude for January delivery fell $2.63  or 3.71% to $68.23 a barrel in trading on the New York Mercantile Exchange.

Global benchmark Brent crude for February delivery closed down $2 or nearly 2% to $71.52 on ICE Futures Europe.

January natural gas went up 14 cents or 3.90% to $3.83 per 1,000 cubic feet.

The falling oil prices and lack of confidence caused by the Omicron variant also left most Oklahoma energy stocks with losses in Monday’s trading. Matrix Service lost nearly 7% while Laredo Petroleum was close to 5%.

 

Alliance Resource Partners, L.P.
11.30 USD−0.20 (1.74%)
Blueknight Energy Partners LP Common Stock
3.24 USD0.00 (0.00%)
Chesapeake Energy Ord Shs
60.10 USD−0.66 (1.09%)
Continental Resources, Inc.
42.69 USD−0.32 (0.74%)
Coterra Energy Inc
19.42 USD−0.25 (1.25%)
Cypress Environmental Partners LP
1.09 USD0.00 (0.00%)
Devon Energy Corp
38.26 USD−0.94 (2.40%)
Gulfport Energy Corp
68.48 USD−1.69 (2.41%)
Helmerich & Payne, Inc.
22.77 USD−0.66 (2.84%)
LSB Industries, Inc.
8.54 USD−0.17 (1.95%)
Laredo Petroleum Inc
56.28 USD−2.67 (4.53%)
Magellan Midstream Partners, L.P.
44.04 USD−0.82 (1.83%
Mammoth Energy Services Inc
1.91 USD+0.070 (3.80%)
Matrix Service Co
6.58 USD−0.47 (6.67%)
NGL Energy Partners LP
1.96 USD+0.0100 (0.51%)
OGE Energy Corp.
36.91 USD+0.050 (0.14%)
ONE Gas Inc
75.42 USD0.00 (0.00%)
ONEOK, Inc.
56.53 USD−1.32 (2.28%)
Ovintiv Inc
30.99 USD−0.55 (1.74%)
PHX Minerals Inc
2.13 USD−0.040 (1.84%)
SandRidge Energy Inc.
9.82 USD−0.20 (2.00%)
Units Ord Shs
31.52 USD0.00 (0.00%)
Williams Companies Inc
25.35 USD−0.44 (1.71%)
What to Do About Falling Oil Prices: Pivot Your Procurement and Supply Chain Strategy | GEP
 The Texas Energy Report showed other energy stocks also had losses for the day.

Apache (APA) down 0.44 at 23.94 – change 1.81%

Cheniere (LNG) up 0.71 at 101.12 – change 0.70%

Chevron (CVX) up 0.05 at 113.65 – change 0.04%

ConocoPhillips (COP) down 0.01 at 68.59 – change 0.02%

Diamondback Energy (FANG) down 3.31 at 99.12 – change 3.24%

Energy Transfer LP (ET) down 0.10 at 8.25 – change 1.20%

Enterprise Products Partners (EPD) down 0.33 at 20.73 – change 1.57%

EOG Resources (EOG) down 0.42 at 83.58 – change 0.50%

ExxonMobil (XOM) down 0.87 at 59.16 – change 1.46%

Kinder Morgan (KMI) down 0.36 at 15.24 – change 2.31%

Marathon Oil Corp. (MRO) down 0.29 at 14.86 – change 1.92%

National Oilwell Varco (NOV) down 0.45 at 12.81 – change 3.40%

Occidental Petroleum (OXY) down 1.06 at 26.98 – change 3.79%

Phillips 66 (PSX) down 2.37 at 69.43 – change 3.31%

Pioneer Natural Resources (PXD) down 1.04 at 172.65 – change 0.60%

Valero (VLO) unchanged at 68.69 – change 0.00%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.69 at 87.23 – change 0.79%

CenterPoint (CNP) up 0.02 at 27.00 – change 0.07%

Entergy (ETR) down 0.08 at 109.45 – change 0.07%