Crude made 2% gains on Friday but will it continue?

oil prices: Oil price rises after surprise drop in US inventories offsets  demand concerns, Auto News, ET Auto

 

After the long Independence Day holiday, traders will be anxious to know whether Friday’s 2% gain in crude oil prices will continue on Tuesday. Likewise, investors in Oklahoma energy stocks will want to know if there’s a follow-through on their Friday gains.

Why the gain? Experts say it was because of supply outages in Libya and expected shutdowns in Norway and perhaps growing anxiety over the prospects of an economic slowdown in the U.S.

West Texas Intermediate crude for August delivery finished up $2.67 or about 2.5% and closed at $108.43 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for September delivery rose $2.60 or 2.38% a barrel and finished at $111.63 on ICE Futures Europe.

 August natural gas rose 31 cents or nearly 6% to $5.73 per 1,000 cubic feet.

Friday’s trading brought gains for most Oklahoma energy stocks with some seeing 4% improvements for the day. However, a few, notably Empire Petroleum, lost 12% in trading.

 

Alliance Resource Partners, L.P.
18.73 USD+0.50 (2.74%)
Blueknight Energy Partners LP Common Stock
4.52 USD0.00 (0.00%)
Chesapeake Energy Ord Shs
82.90 USD+1.80 (2.22%)
Continental Resources, Inc.
65.66 USD+0.31 (0.47%)
Coterra Energy Inc
26.33 USD+0.54 (2.09%)
Devon Energy Corp
55.11 USD0.00 (0.00%)
Empire Petroleum Corporation
10.43 USD−1.44 (12.13%)
Gulfport Energy Corp
80.50 USD+0.99 (1.25%)
Helmerich & Payne, Inc.
43.51 USD+0.45 (1.05%)
LSB Industries, Inc.
12.74 USD−1.12 (8.08%)
Laredo Petroleum Inc
68.89 USD−0.050 (0.073%)
Magellan Midstream Partners, L.P.
48.18 USD+0.42 (0.88%)
Mammoth Energy Services Inc
2.21 USD+0.0100 (0.45%)
Matrix Service Co
4.95 USD−0.11 (2.17%)
NGL Energy Partners LP
1.51 USD−0.0100 (0.66%)
OGE Energy Corp.
40.04 USD+1.48 (3.84%)
ONE Gas Inc
84.15 USD+2.96 (3.65%)
ONEOK, Inc.
56.75 USD+1.25 (2.25%)
Ovintiv Inc
43.50 USD−0.69 (1.56%)
PHX Minerals Inc
3.03 USD−0.0100 (0.33%)
SandRidge Energy Inc.
15.92 USD+0.25 (1.60%)
Unit Corp
52.49 USD+1.85 (3.65%)
Williams Companies Inc
31.29 USD+0.080 (0.26%)
Oil Prices Up As EIA Confirms Crude Draw - The Energy Intelligence
Other energy stocks saw slight gains for the day while the strongest improved less than 3% according to the Texas Energy Report.

Apache (APA) up 0.45 at 35.35 – change 1.28%

Cheniere (LNG) down 1.08 at 131.94 – change 0.82%

Chevron (CVX) up 1.73 at 146.51 – change 1.19%

ConocoPhillips (COP) up 1.17 at 90.98 – change 1.30%

Diamondback Energy (FANG) up 0.06 at 121.21 – change 0.04%

Energy Transfer LP (ET) up 0.04 at 10.02 – change 0.40%

Enterprise Products Partners (EPD) up 0.26 at 24.63 – change 1.06%

EOG Resources (EOG) up 1.18 at 111.62 – change 1.06%

ExxonMobil (XOM) up 1.91 at 87.55 – change 2.23%

Kinder Morgan (KMI) up 0.22 at 16.98 – change 1.31%

Marathon Oil Corp. (MRO) up 0.07 at 22.55 – change 0.31%

National Oilwell Varco (NOV) down 0.01 at 16.89 – change 0.06%

Occidental Petroleum (OXY) up 1.56 at 60.44 – change 2.64%

Phillips 66 (PSX) up 2.38 at 84.37 – change 2.90%

Pioneer Natural Resources (PXD) up 0.86 at 223.94 – change 0.38%

Tellurian Inc. (TELL) up 0.01 at 2.99 – change 0.33%

Valero (VLO) up 1.70 at 107.98 – change 1.59%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 2.00 at 97.95 – change 2.09%

CenterPoint (CNP) up 0.92 at 30.50 – change 3.11%

Entergy (ETR) up 2.66 at 115.30 – change 2.36%