Talk of a Biden ban on US crude exports leaves prices down

Oil prices mixed on storm-driven output cuts, rising Covid-19 cases | Deccan Herald

 

All it took was a comment from U.S. Energy Secretary Jennifer Granholm to say the Biden administration has not ruled out a ban on petroleum exports and oil futures fell in the U.S. while managing a slight increase in Europe.

West Texas Intermediate crude for July delivery dropped 52 cents or 0.5%  after Granholm’s comments, settling at $109.77 a barrel in trading on the New York Mercantile Exchange.

Global benchmark Brent crude, also for July delivery, went up 14 cents and closed at $113.56 a barrel on ICE Futures Europe.

 

June natural gas rose 6 cents to $8.80 per 1,000 cubic feet.

Granholm made her comments while talking with reporters in Louisiana who asked her if the administration was considering restrictions on petroleum exports, a move to put a lid on gasoline and diesel prices.

“I can confirm the president is not taking any tools off the table,” was her response.

Her comments left Oklahoma energy stocks with a mixed bag…some fell and some rose.

Among those with gains was Unit Corporation with a nearly 5% increase for the day. Chesapeake Energy saw a 2% gain while Continental Resources dropped nearly 3%.

 

 Alliance Resource Partners, L.P.
19.98 USD+0.17 (0.86%)
Blueknight Energy Partners LP Common Stock
4.53 USD+0.010 (0.22%)
Chesapeake Energy Ord Shs
97.87 USD+2.00 (2.09%)
Continental Resources, Inc.
61.52 USD−1.72 (2.72%)
Coterra Energy Inc
32.60 USD+0.23 (0.71%)
Devon Energy Corp
70.39 USD−0.67 (0.94%)
Empire Petroleum Corporation
20.70 USD+0.30 (1.47%)
Gulfport Energy Corp
95.74 USD−0.32 (0.33%)
Helmerich & Payne, Inc.
47.70 USD−0.36 (0.75%)
LSB Industries, Inc.
19.35 USD−0.26 (1.33%)
Laredo Petroleum Inc
67.01 USD−1.68 (2.45%)
Magellan Midstream Partners, L.P.
48.83 USD+0.37 (0.76%)
Mammoth Energy Services Inc
2.17 USD+0.0100 (0.46%)
Matrix Service Co
5.52 USD+0.17 (3.18%)
NGL Energy Partners LP
1.90 USD−0.0100 (0.52%)
OGE Energy Corp.
40.63 USD+0.43 (1.07%)
ONE Gas Inc
88.63 USD+1.98 (2.29%)
ONEOK, Inc.
63.73 USD+0.17 (0.27%)
PHX Minerals Inc
3.42 USD+0.10 (3.01%)
SandRidge Energy Inc.
21.34 USD+0.57 (2.74%)
Unit Corp
58.05 USD+2.55 (4.59%)
Williams Companies Inc
36.21 USD+0.19 (0.53%)
Crude oil prices rise on Opec+ cuts, record China imports, Energy News, ET EnergyWorld
 Other energy stocks had the same kind of day according to the Texas Energy Report.

Apache (APA) down 0.53 at 43.62 – change 1.21%

Cheniere (LNG) down 0.62 at 130.49 – change 0.48%

Chevron (CVX) up 0.92 at 172.64 – change 0.53%

ConocoPhillips (COP) up 0.46 at 109.48 – change 0.42%

Diamondback Energy (FANG) down 0.33 at 135.78 – change 0.35%

Energy Transfer LP (ET) down 0.10 at 11.17 – change 0.89%

Enterprise Products Partners (EPD) up 0.01 at 26.80 – change 0.03%

EOG Resources (EOG) up 1.18 at 129.25 – change 0.92%

ExxonMobil (XOM) up 0.51 at 94.40 – change 0.54%

Kinder Morgan (KMI) down 0.02 at 19.14 – change 0.11%

Marathon Oil Corp. (MRO) down 0.05 at 28.08 – change 0.18%

National Oilwell Varco (NOV) up 0.31 at 19.12 – change 1.64%

Occidental Petroleum (OXY) down 0.35 at 65.06 – change 0.54%

Phillips 66 (PSX) up 1.69 at 96.77 – change 1.77%

Pioneer Natural Resources (PXD) down 0.75 at 271.25 – change 0.28%

Tellurian Inc. (TELL) down 0.21 at 4.45 – change 4.51%

Valero (VLO) up 0.25 at 124.21 – change 0.20%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 1.95 at 102.22 – change 1.94%

CenterPoint (CNP) up 0.47 at 31.31 – change 1.52%

Entergy (ETR) up 2.36 at 119.16 – change 2.02%

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