The possibility of tighter oil supplies drove crude prices up on Monday by nearly $2 a barrel. It came while the Group of Seven nations promised to put the squeeze on Russia’s Putin as he presses his war on Ukraine.
As a result, Oklahoma energy stocks made strong gains for the day with a handful of firms seeing 8 and 9% increases for the day.
West Texas Intermediate crude for August delivery went up $1.95 and settled at $109.57 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude, also for August delivery, increased $1.97 to finish at $115.09 a barrel on ICE Futures Europe.
July natural gas rose 28 cents to $6.50 per 1,000 cubic feet.
Monday also proved to be a strong day for Oklahoma energy stocks with SandRidge Energy gaining 9% and Devon Energy and Unit Corporation seeing about 8% gains.
Apache (APA) up 1.02 at 37.47 – change 2.79%
Cheniere (LNG) up 4.44 at 131.02 – change 3.50%
Chevron (CVX) up 2.80 at 147.57 – change 1.93%
ConocoPhillips (COP) up 2.02 at 92.23 – change 2.23%
Diamondback Energy (FANG) up 4.69 at 124.39 – change 3.91%
Energy Transfer LP (ET) up 0.04 at 10.14 – change 0.39%
Enterprise Products Partners (EPD) up 0.15 at 24.14 – change 0.62%
EOG Resources (EOG) up 3.17 at 113.76 – change 2.86%
ExxonMobil (XOM) up 2.13 at 89.03 – change 2.45%
Kinder Morgan (KMI) up 0.35 at 16.82 – change 2.12%
Marathon Oil Corp. (MRO) up 1.07 at 23.12 – change 4.85%
National Oilwell Varco (NOV) up 0.46 at 16.69 – change 2.83%
Occidental Petroleum (OXY) up 1.38 at 58.90 – change 2.39%
Phillips 66 (PSX) up 3.00 at 87.20 – change 3.56%
Pioneer Natural Resources (PXD) up 6.69 at 230.17 – change 2.99%
Tellurian Inc. (TELL) up 0.21 at 3.11 – change 7.24%
Valero (VLO) up 8.31 at 112.24 – change 7.99%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.38 at 94.98 – change 1.47%
CenterPoint (CNP) up 0.14 at 28.99 – change 0.48%
Entergy (ETR) up 1.41 at 111.96 – change 1.27%