Suez canal unblocked–oil went up–Oklahoma energy stocks dropped

  • March 29, 2021

 

With the unblocking of the Suez Canal by a cargo ship nearly the length of New York’s Empire State Building, it sent oil prices rising in Monday’s trading. Oklahoma energy stocks went the opposite direction.

The massive container ship, Ever Given was freed early Monday after being stuck cross ways for nearly a week, costing nearly $10 billion a day in global trade. Freeing the stuck ship was considered a major step toward opening one of the world’s most important trade arteries moving again.

After the ship was unstuck, West Texas Intermediate crude oil for May delivery went up 59 cents to $61.56 a barrel in Monday’s trading on the New York Mercantile Exchange.

Global benchmark Brent crude for May delivery went up 41 cents to $64.98 a barrel on ICE Futures Europe. April natural gas rose 3 cents to $2.59 per 1,000 cubic feet.

Perhaps it was the impact of the stuck cargo ship and the slight increase in oil prices, but Oklahoma energy stocks suffered losses in Monday’s trading.

SandRidge Energy suffered the biggest loss at 6.23% as its shares dropped 25 cents to $3.76.

Alliance Resource Partners, L.P. lost 2.75% on a 16 cent drop to $5.66.

Blueknight Energy Partners LP fell 12 cents resulting in a 3.66% loss to $3.16.

Chesapeake Energy dropped 81 cents for a 1.87% loss to $42.52.

Cimarex Energy loss less than 1% on a 39 cent fall to $60.44.

Continental Resources lost 3.44% on a 92 cent slide to $25.80.

Cypress Environmental Partners fell 12 cents resulting in a 4.80% loss to $2.38.

Devon Energy Corp closed down 89 cents for a 3.91% loss to $21.85.
Enable Midstream Partners finished at $6.68 with a 12 cent drop and a loss of 1.76%.
Gulfport Energy Corporation lost 3.50% to $0.053 cents.
Helmerich & Payne, Inc. dropped $1.04 to $27.43 for a 3.65% loss.
LSB Industries closed down 22 cents for a 4.89% loss to $4.72.
Laredo Petroleum slipped 7 cents to $29.90 for a slight loss of 0.23%.
Magellan Midstream Partners finished at $43.43 after shares fell 37 cents for a loss of less than 1%.
Mammoth Energy Services lost 4.88% on a 26 cents drop to $5.07.
Matrix Service Co. fell 48 cents to $12.77 for a 3.62% loss.
NGL Energy Partners closed down 7 cents for a 3.33% loss to $2.03.
OGE Energy Corp. ended Monday with a gain of 1.20% on a 39 cent increase to $32.78.
ONE Gas gained 1.71% on a $1.28 increase to $76.27.
ONEOK Inc. fell 61 cents for a 1.19% loss to $50.57.
Ovintiv Inc closed down 69 cents for a 2.85% loss to $23.56.
PHX Minerals lost 4.19% on a 13 cent fall to $2.97.
Williams Companies Inc finished at $24.04 with a 53 cent fall and a 2.16% loss.
The Texas Energy Report indicated other energy stocks had losses for the day.

Chevron (CVX) down 0.57 at 106.92 – change 0.53%

ConocoPhillips (COP) down 4.20 at 53.84 – change 2.19%

Diamondback Energy (FANG) down 1.55 at 74.23 – change 2.05%

Energy Transfer LP (ET) down 0.11 at 7.82 – change 1.39%

Enterprise Products Partners (EPD) down 0.42 at 22.58 – change 1.83%

EOG Resources (EOG) down 1.24 at 73.64 – change 1.66%

ExxonMobil (XOM) down 0.31 at 57.40 – change 0.54%

Kinder Morgan (KMI) down 0.05 at 16.75 – change 0.30%

Marathon Oil Corp. (MRO) down 0.19 at 10.90 – change 1.72%

National Oilwell Varco (NOV) down 0.18 at 13.85 – change 1.29%

Occidental Petroleum (OXY) down 0.76 at 27.00 – change 2.74%

Phillips 66 (PSX) down 1.78 at 82.53 – change 2.12%

Pioneer Natural Resources (PXD) down 2.53 at 162.28 – change 1.54%

Valero (VLO) down 1.25 at 71.86 – change 1.71%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.85 at 85.84 – change 1.00%

CenterPoint (CNP) up 0.68 at 22.65 – change 3.09%

Entergy (ETR) up 0.72 at 99.16 – change 0.73%

Jerry Bohnen