All it took was a forecast from the International Energy Agency for crude oil prices to climb even higher in Thursday’s trading. Numerous Oklahoma energy stocks did the same.
It came after the EIA increased its oil demand growth forecast for the year. There was also the positive sign that soaring natural gas prices have more and more consumers switching to oil.
As a result, crude prices rebounded but remained just under the $100 a barrel mark.
West Texas Intermediate crude for September delivery managed an increase of $2.41 a barrel to settle at $94.34 on the New York Mercantile Exchange.
Overseas, global benchmark Brent crude for October delivery rose $2.20 and finished at $99.60 a barrel on ICE Futures Europe.
September natural gas rose 67 cents to $8.87 per 1,000 cubic feet.
Oklahoma energy stocks also saw a rebound in Thursday’s trading including a more than 7% gain for Devon Energy, 5% for Helmerich & Payne, and 7% for Laredo Petroleum. Ovintiv was up 6% and SandRidge Energy 5%.
Apache (APA) up 1.62 at 34.84 – change 4.87%
Cheniere (LNG) up 4.00 at 154.77 – change 2.56%
Chevron (CVX) up 3.80 at 159.62 – change 2.43%
ConocoPhillips (COP) up 4.38 at 100.36 – change 4.56%
Diamondback Energy (FANG) up 6.74 at 132.78 – change 5.34%
Energy Transfer LP (ET) up 0.22 at 11.49 – change 1.95%
Enterprise Products Partners (EPD) up 0.43 at 26.84 – change 1.62%
EOG Resources (EOG) up 4.55 at 113.54 – change 4.17%
ExxonMobil (XOM) up 2.62 at 93.19 – change 2.89%
Kinder Morgan (KMI) up 0.45 at 18.59 – change 2.48%
Marathon Oil Corp. (MRO) up 1.57 at 23.91 – change 7.02%
National Oilwell Varco (NOV) up 0.66 at 18.43 – change 3.71%
Occidental Petroleum (OXY) up 2.83 at 65.69 – change 4.50%
Phillips 66 (PSX) up 2.70 at 88.33 – change 3.15%
Pioneer Natural Resources (PXD) up 10.68 at 228.48 – change 4.90%
Tellurian Inc. (TELL) up 0.21 at 4.03 – change 5.49%
Valero (VLO) up 2.33 at 114.09 – change 2.08%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.15 at 101.20 – change 0.14%
CenterPoint (CNP) down 0.16 at 31.91 – change 0.50%
Entergy (ETR) up 0.56 at 118.78 – change 0.48%