Crude oil prices fell along with rig numbers

  • March 13, 2021

 

 

While U.S. drillers cut back their rigs in the past week, crude oil prices settled just under $70 a barrel on Friday.

West Texas Intermediate crude ended the week flat after prices hit a 13-month high on Monday. The benchmark U.S. crude oil for April delivery dropped 41 cents to $65.61 on Friday.

Global benchmark Brent crude for May delivery fell 41 cents to $69.22 a barrel.

Oil prices were supported by production cuts from major oil producers but also by increased optimism that there will be a demand recovery in the second half of the year.

Of the Oklahoma energy stocks, Laredo Petroleum continued its growth after a more than 13% gain on Thursday. The firm’s stocks rose 4.28% on Friday with a $1.74 increase to $42.37.

NGL Energy Partners LP was another firm with a big jump on Friday as it recorded a nearly 7% gain on a 17 cent increase to $2.40.

Other energy stocks in the state had a so-so Friday.

Alliance Resource Partners, L.P. dropped 4 cents for a less than 1% loss to $5.85.
Blueknight Energy Partners fell 5 cents for a 1.60% loss to $3.07.
Chesapeake Energy had a nearly 1% gain on a 41 cent increase to $45.75.
Cimarex Energy fell $1.14 for a 1.72% loss to $65.14.
Continental Resources lost 3.36% on a $1.04 drop to $29.90.
Cypress Environmental Partners LP had a 1% loss on a 3 cent fall to $3.14.
Devon Energy lost 1.58% on a 39 cent drop to $24.25.
Enable Midstream Partners picked up 11 cents to $7.23 for a 1.54% gain.
Gulfport Energy Corporation had small gain of 0.13% to $0.077 cents.
Helmerich & Payne slipped 25 cents to $32.41 for a loss of less than 1%.
LSB Industries closed up 12 cents at $4.77 for a gain of 2.58%.
Magellan Midstream Partners picked up 27 cents to reach $45.38 for a gain of less than 1%.
Mammoth Energy Services Inc finished at $5.28 for a 1.34% gain on a 7 cent increase.
Matrix Service Company dropped 6 cents to $15.69 for a loss of 0.38%.
OGE Energy Corp added 46 cents to hit $31.81 for a gain of 1.47%.
ONE Gas Inc gained nearly 2% on a $1.38 increase to $75.13.
ONEOK Inc. gained 2.34% and closed at $51.60 with a jump of $1.18.
Ovintiv Inc. closed up 5 cents at $27.99, a gain of 0.18%.
PHX Minerals Inc finished at $3.15 with a 5 cent increase and a gain of 1.61%.
SandRidge Energy fell 3 cents to $4.45 and a loss of less than 1%.
Williams Companies Inc. closed at $23.93 with a 3 cent increase and a gain of 0.13%.
Other energy stocks had the same kind of Friday according to the Texas Energy Report.

Chevron (CVX) up 0.39 at 111.56 – change 0.35%

ConocoPhillips (COP) down 0.65 at 59.19 – change 1.09%

Diamondback Energy (FANG) down 2.03 at 82.01 – change 2.42%

Energy Transfer LP (ET) up 0.11 at 8.48 – change 1.31%

Enterprise Products Partners (EPD) up 0.16 at 23.45 – change 0.69%

EOG Resources (EOG) down 0.30 at 75.00 – change 0.40%

ExxonMobil (XOM) up 0.65 at 61.97 – change 1.06%

Kinder Morgan (KMI) up 0.16 at 16.35 – change 0.99%

Marathon Oil Corp. (MRO) down 0.32 at 12.20 – change 2.56%

National Oilwell Varco (NOV) up 0.08 at 16.70 – change 0.48%

Occidental Petroleum (OXY) down 0.35 at 30.63 – change 1.13%

Phillips 66 (PSX) up 0.90 at 88.66 – change 1.03%

Pioneer Natural Resources (PXD) up 1.05 at 165.63 – change 0.64%

Valero (VLO) down 0.06 at 82.42 – change 0.07%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 1.04 at 81.04 – change 1.30%

CenterPoint (CNP) up 0.68 at 21.97 – change 3.19%

Entergy (ETR) up 2.41 at 95.76 – change 2.58%

Jerry Bohnen