Oil prices plummeted on Biden’s oil release

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The announcement by President Biden of the largest ever release of oil from the U.S. Strategic Petroleum Reserve sent oil prices plunging 7% on Thursday. They closed at nearly $100 a barrel in the U.S.

West Texas Intermediate crude for May delivery dropped $7.54 to close at $100.28 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude for May delivery dropped $5.54 to $107.91 a barrel on ICE Futures Europe.

May natural gas rose 3 cents $5.64 per 1,000 cubic feet.

 

Alliance Resource Partners, L.P.
15.43 USD−0.020 (0.13%)
Blueknight Energy Partners LP Common Stock
3.34 USD+0.020 (0.60%)
Chesapeake Energy Ord Shs
87.00 USD−1.11 (1.26%)
Continental Resources, Inc.
61.33 USD−1.42 (2.26%)
Coterra Energy Inc
26.97 USD−0.13 (0.48%)
Cypress Environmental Partners LP
1.65 USD−0.040 (2.37%)
Devon Energy Corp
59.13 USD−1.43 (2.36%)
Gulfport Energy Corp
89.82 USD+0.84 (0.94%)
Helmerich & Payne, Inc.
42.78 USD−0.64 (1.47%)
LSB Industries, Inc.
21.84 USD+0.69 (3.26%)
Laredo Petroleum Inc
79.14 USD−4.03 (4.85%)
Magellan Midstream Partners, L.P.
49.07 USD−0.54 (1.09%)
Mammoth Energy Services Inc
2.13 USD+0.080 (3.90%)
Matrix Service Co
8.22 USD−0.28 (3.29%)
NGL Energy Partners LP
2.22 USD−0.040 (1.77%)
OGE Energy Corp.
40.78 USD+0.33 (0.82%)
ONE Gas Inc
88.24 USD−0.26 (0.29%)
ONEOK, Inc.
70.63 USD−1.08 (1.51%)
Ovintiv Inc
54.07 USD−0.45 (0.83%)
PHX Minerals Inc
3.06 USD+0.050 (1.66%)
Units Ord Shs
61.55 USD−0.45 (0.73%)
Williams Companies Inc
33.41 USD−0.24 (0.71%)
The U.S. Considers Strategic Petroleum Reserve Release After OPEC+ Snub | OilPrice.com
Other energy stocks suffered losses too according to the Texas Energy Report, including a 3% drop for Energy Transfer and Pioneer Natural Resources.

Apache (APA) up 0.13 at 41.33 – change 0.31%

Cheniere (LNG) down 2.63 at 138.65 – change 1.87%

Chevron (CVX) down 2.65 at 162.83 – change 1.61%

ConocoPhillips (COP) down 1.11 at 100.00 – change 1.09%

Diamondback Energy (FANG) down 2.07 at 137.08 – change 1.49%

Energy Transfer LP (ET) down 0.34 at 11.19 – change 2.95%

Enterprise Products Partners (EPD) down 0.26 at 25.81 – change 1.00%

EOG Resources (EOG) down 1.86 at 119.23 – change 1.54%

ExxonMobil (XOM) down 1.19 at 82.59 – change 1.43%

Kinder Morgan (KMI) down 0.18 at 18.91 – change 0.95%

Marathon Oil Corp. (MRO) down 0.39 at 25.11 – change 1.53%

National Oilwell Varco (NOV) down 0.23 at 19.61 – change 1.16%

Occidental Petroleum (OXY) down 0.74 at 56.74 – change 1.29%

Phillips 66 (PSX) down 1.05 at 86.39 – change 1.21%

Pioneer Natural Resources (PXD) down 7.90 at 250.03 – change 3.07%

Tellurian Inc. (TELL) down 0.15 at 5.30 – change 2.58%

Valero (VLO) up 1.04 at 101.54 – change 1.03%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.35 at 99.77 – change 0.35%

CenterPoint (CNP) down 0.15 at 30.64 – change 0.46%

Entergy (ETR) down 0.29 at 116.75 – change 0.25%