Crude oil prices rose higher for a third straight trading day on Tuesday, this after Saudi Arabia and the United Arab Emirates were unable to boost output significantly and western governments agreed to consider a cap on the price of Russian oil.
The day also produced continued gains for Oklahoma energy stocks.
West Texas Intermediate crude for August delivery went up $2.19 or 2% and finished the day at $111.76 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for August delivery increased $2.89 or more than 2% and closed at $117.98 a barrel on ICE Futures Europe.
July natural gas rose 5 cents to $6.55 per 1,000 cubic feet.
Oklahoma energy stocks continued with their increased gains including Laredo Petroleum with a more than 5% increase for the day.
Other energy stocks recorded gains for the day according to the Texas Energy Report.
Apache (APA) up 1.30 at 38.77 – change 3.46%
Cheniere (LNG) up 3.84 at 134.86 – change 2.93%
Chevron (CVX) up 2.37 at 149.94 – change 1.60%
ConocoPhillips (COP) up 2.99 at 95.22 – change 3.24%
Diamondback Energy (FANG) up 5.41 at 129.80 – change 4.34%
Energy Transfer LP (ET) up 0.20 at 10.34 – change 1.97%
Enterprise Products Partners (EPD) up 0.63 at 24.77 – change 2.60%
EOG Resources (EOG) up 4.55 at 118.31 – change 3.99%
ExxonMobil (XOM) up 2.47 at 91.50 – change 2.77%
Kinder Morgan (KMI) up 0.37 at 17.20 – change 2.19%
Marathon Oil Corp. (MRO) up 1.01 at 24.13 – change 1.06%
National Oilwell Varco (NOV) up 0.63 at 17.32 – change 3.77%
Occidental Petroleum (OXY) up 2.81 at 61.71 – change 4.77%
Phillips 66 (PSX) up 1.65 at 88.85 – change 1.89%
Pioneer Natural Resources (PXD) up 5.16 at 235.33 – change 2.24%
Tellurian Inc. (TELL) up 0.16 at 3.27 – change 5.14%
Valero (VLO) up 4.01 at 116.25 – change 3.57%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.10 at 95.08 – change 0.10%
CenterPoint (CNP) up 0.10 at 29.09 – change 0.34%
Entergy (ETR) down 0.11 at 111.85 – change 0.10%