All it took was a decision by the Federal Reserve to raise interest rates by three-quarters of a point and oil prices took about the same kind of fall in Wednesday’s trading.
The 1% slide left prices at a near two-week low and also didn’t do much to boost Oklahoma energy stocks.
West Texas Intermediate crude for November delivery dropped $1 to $82.94 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude fell 79 cents or about 1% to close at $89.83 a barrel on ICE Futures Europe.
October natural gas rose 6 cents to $7.78 per 1,000 cubic feet.
Another day of losses for most Oklahoma energy stocks. Empire Petroleum was the lone exception as it recorded a nearly 6% gain. Mammoth Energy dropped by 4% and SandRidge Energy lost 3%.
Most other energy stocks also recorded losses for the day with the exception of Tellurian which had a 5% gain according to the Texas Energy Report.
Apache (APA) down 1.17 at 38.43 – change 2.96%
Cheniere (LNG) down 2.56 at 165.49 – change 1.53%
Chevron (CVX) down 1.27 at 155.01 – change 0.82%
ConocoPhillips (COP) down 0.98 at 111.09 – change 0.88%
Devon (DVN) down 0.64 at 64.48 – change 0.99%
Diamondback Energy (FANG) down 1.99 at 128.80 – change 1.53%
Energy Transfer LP (ET) down 0.08 at 11.86 – change 0.59%
Enterprise Products Partners (EPD) down 0.40 at 25.41 – change 1.55%
EOG Resources (EOG) down 1.39 at 118.24 – change 1.17%
ExxonMobil (XOM) down 1.49 at 90.95 – change 1.62%
Kinder Morgan (KMI) down 0.38 at 17.52 – change 2.13%
Marathon Oil Corp. (MRO) down 0.58 at 25.18 – change 2.26%
National Oilwell Varco (NOV) down 0.21 at 16.44 – change 1.27%
Occidental Petroleum (OXY) down 1.60 at 62.68 – change 2.49%
ONEOK (OKE) down 1.27 at 58.43 – change 2.13%
Phillips 66 (PSX) down 1.95 at 81.27 – change 2.35%
Pioneer Natural Resources (PXD) down 3.74 at 228.00 – change 1.62%
Tellurian Inc. (TELL) up 0.14 at 3.11 – change 4.71%
Valero (VLO) down 1.89 at 105.53 – change 1.76%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 1.19 at 98.57 – change 1.20%
CenterPoint (CNP) down 0.04 at 31.95 – change 0.13%
Entergy (ETR) down 1.12 at 113.19 – change 0.98%