Crude oil rebounded more than 2% on Friday

  • May 21, 2021

 

After three days of losses, crude oil prices reversed their courses on Friday with benchmarks in the US and globally each making gains of more than 2%.

One report indicated the rebound was the result of a storm forming in the Gulf of Mexico, reversing the three days of falling prices caused by the expected return of Iranian crude supplies due to a possible nuclear deal with the U.S.

West Texas Intermediate crude for June delivery jumped $1.64 for a 2.65% gain to $63.58 in trading on the New York Mercantile Exchange.

Global benchmark Brent crude for July deliver rose $1.57 for a 2.41% gain to $66.68 on ICE Futures Europe.

As for natural gas, it dropped two cents on Friday for a 0.65% loss to $2.91 per 1,000 cubic feet.

Gains were few for Oklahoma energy stocks as many recorded losses for the day including Gulfport Energy which ended its first week after emerging from Chapter 11 bankruptcy with a 7.81% loss on a drop of $5.39 to $63.59.

Alliance Resource Partners, L.P. dropped one cent to $6.09 for a 0.16% loss.
Blueknight Energy Partners LP rose 12 cents for a 3.22% gain to $3.85.
Chesapeake Energy finished up 28 cents at $50.43 for a 0.57% gain.
Cimarex Energy Co. fell 35 cents for a 0.49% loss to $71.19.
Continental Resources Inc. gained 1.765 on a 53 cent climb to $30.58.
Cypress Environmental Partners LP rose one cent to $2.14 for a 0.47% gain.
Devon Energy finished up 9 cents at $25.35 for a 0.36% gain.
Enable Midstream Partners LP closed up 15 cents for a 1.77% gain to $8.63.
Helmerich & Payne Inc. added 22 cents to finish at $28.90 for a 0.77% gain.
LSB Industries, Inc. rose 32 cents to settle at $6.30 for a gain of 5.35%.
Magellan Midstream Partners, LP lost 0.47% on a 23 cent slide to $48.93.
Mammoth Energy Services Inc. closed down 2 cents to $3.74 for a loss of 0.53%.
Matrix Service Co lost 1.67% as shares closed down 19 cents at $11.18.
NGL Energy Partners finished up 7 cents at $2.33 for a 3.10% gain.
OGE Energy Corp. closed up 10 cents for a 0.30% gain to $33.70.
ONE Gas Inc. saw shares finish up 52 cents at $74.01 for a gain of 0.71%.
ONEOK Inc. fell 45 cents to $53.26 for a loss of 0.84%.
Ovintiv Inc slid 34 cents to $24.85 and a loss of 1.35%.
PHX Minerals Inc. closed with a 3 cent increase to $2.96 and a gain of 1.02%.
SandRidge Energy dropped 8 cents for a 1.53% loss to $5.14.
Unit Corporation saw a 50 cent increase to $15.50 and a 3.33% gain.
Williams Companies Inc. settled at $26.39 with a 6 cent increase and a 0.23% gain.

As the Texas Energy Report indicated on Friday, it wasn’t exactly a “barn burner” of a day for other energy stocks.

Chevron (CVX) up 0.56 at 104.12 – change 0.54%

ConocoPhillips (COP) up 0.26 at 55.65 – change 0.46%

Diamondback Energy (FANG) down 0.22 at 76.31 – change 0.29%

Energy Transfer LP (ET) up 0.17 at 10.19 – change 1.69%

Enterprise Products Partners (EPD) down 0.11 at 23.71 – change 0.47%

EOG Resources (EOG) down 0.45 at 80.06 – change 0.56%

ExxonMobil (XOM) up 0.08 at 58.92 – change 0.13%

Kinder Morgan (KMI) up 0.23 at 18.72 – change 0.10%

Marathon Oil Corp. (MRO) up 0.07 at 11.60 – change 0.60%

National Oilwell Varco (NOV) down 0.05 at 16.17 – change 0.31%

Occidental Petroleum (OXY) up 0.17 at 25.12 – change 0.68%

Phillips 66 (PSX) up 0.09 at 84.29 – change 0.10%

Pioneer Natural Resources (PXD) up 0.07 at 150.72 – change 0.04%

Valero (VLO) up 0.21 at 77.20 – change 0.27%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.39 at 86.65 – change 0.45%

CenterPoint (CNP) up 0.01 at 24.71 – change 0.04%

Entergy (ETR) up 0.90 at 106.64 – change 0.85%

Jerry Bohnen