U.S. crude oil prices on Monday dropped below $90 for the first time in more than a week.
What was behind the drop? Reuters attributed the decline to news that China’s July refinery output was the lowest since March 2020 as well as a stronger U.S. dollar and low liquidity pressure prices.
West Texas Intermediate crude for September delivery dropped $2.68 to $89.41 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for October delivery plunged $3.05 to finish at $95.10 a barrel on ICE Futures Europe.
September natural gas fell 4 cents to $8.73 per 1,000 cubic feet.
The day’s trading also saw most Oklahoma energy stocks with losses. Helmerich & Payne dropped more than 5% while Empire Petroleum was down nearly 5%.
Apache (APA) down 1.13 at 33.57 – change 3.26%
Cheniere (LNG) down 1.13 at 157.57 – change 0.71%
Chevron (CVX) down 3.04 at 156.81 – change 1.91%
ConocoPhillips (COP) down 1.52 at 100.77 – change 1.49%
Diamondback Energy (FANG) down 2.15 at 127.93 – change 1.66%
Energy Transfer LP (ET) down 0.09 at 11.58 – change 0.78%
Enterprise Products Partners (EPD) down 0.02 at 27.13 – change 0.08%
EOG Resources (EOG) down 2.21 at 112.28 – change 1.94%
ExxonMobil (XOM) down 1.68 at 92.32 – change 1.79%
Kinder Morgan (KMI) down 0.12 at 18.57 – change 0.65%
Marathon Oil Corp. (MRO) down 0.67 at 23.39 – change 2.79%
National Oilwell Varco (NOV) down 0.70 at 17.92 – change 3.76%
Occidental Petroleum (OXY) down 1.39 at 64.34 – change 2,12%
Phillips 66 (PSX) down 0.84 at 89.16 – change 0.94%
Pioneer Natural Resources (PXD) down 3.01 at 229.94 – change 1.30%
Tellurian Inc. (TELL) down 0.08 at 4.05 – change 1.94%
Valero (VLO) down 3.24 at 111.95 – change 2.82%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.78 at 104.56 – change 0.75%
CenterPoint (CNP) up 0.19 at 32.69 – change 0.58%
Entergy (ETR) up 0.80 at 121.81 – change 0.66%
