US crude moves closer to $70

  • June 6, 2021

Oil Price Rises Above $70, OPEC Projects Demand Growth — Economic Confidential

 

Benchmark crude oil prices in the U.S. pushed oh-so-close to the $70 a barrel mark in Friday’s trading, no doubt leaving investors in oil and gas wondering if the level will be reached or surpassed in the coming days.

West Texas Intermediate crude for July delivery rose 81 cents to finish at $69.62 a barrel on Friday. Global benchmark Brent crude for August delivery went up 58 cents to close at $71.89 a barrel in trading on ICE Futures Europe.

July natural gas rose 6 cents to $3.10 per 1,000 cubic feet.

The increased crude oil prices didn’t correspond with Oklahoma energy stocks. NGL Energy Partners LP plunged 19.81% on a 62 cent drop to $2.51.

Alliance Resource Partners, L.P. fell 2 cents to $6.40 for a 0.31% loss.
Blueknight Energy Partners LP rose 2 cents to $4.15 for a 0.48% gain.
Chesapeake Energy finished up 95 cents to $54.43 for a 1.78% gain.
Cimarex Energy closed down 41 cents for a 0.57% loss to $71.26.
Continental Resources Inc. fell 7 cents for a 0..20% loss to $35.23.
Cypress Environmental Partners LP closed up 3 cents for a 1.28% gain to $2.37.
Devon Energy Corp finished with a 1.57% gain on a 49 cent increase to $31.66.
Enable Midstream Partners LP rose 25 cents for a 2.80% gain to $9.19.
Gulfport Energy Operating Corp. dropped 5 cents to $63.55 for a 0.079% loss.
Helmerich & Payne, Inc. gained 1.39% on a 46 cent hike to $33.49.
LSB Industries, Inc. added 21 cents to finish at $6.72 for a  3.23% gain.
Laredo Petroleum Inc. lost 0.70% on a 46 cent tumble to $65.29.
Magellan Midstream Partners, L.P. ros3 34 cents for a 0.66% gain to $51.96.
Mammoth Energy Services Inc. slipped 8 cents to $3.92 for a 2.00% loss..
Matrix Service Co closed down 18 cents at $11.13 for a 1.59% loss.
OGE Energy Corp. rose 9 cents to $34.33 for a 0.26% gain.
ONE Gas Inc. lost 0.34% on a 26 cent slide to $75.21.
ONEOK, Inc. finished up 23 cents at $53.94 for a 0.43% gain.
Ovintiv Inc. added 29 cents for a 0.95% gain to $30.92.
PHX Minerals Inc. closed down 2 cents at $3.41 for a 0.58% loss.
SandRidge Energy Inc. gained 4.26% on a 26 cent increase to $6.36.
Unit Corporation lost 0.19% on a 3 cent fall to $15.65.
Williams Companies Inc finished up 33 cents for a 1.19% gain to $27.95.
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Here’s how other energy stocks performed according to the Texas Energy Report.

Cabot Oil & Gas (COG) up 0.13 at 16.93 – change 0.77%

Chevron (CVX) up 0.86 at 108.45 – change 0.80%

ConocoPhillips (COP) up 0.38 at 59.85 – change 0.64%

Diamondback Energy (FANG) down 0.70 at 85.82 – change 0.81%

Energy Transfer LP (ET) up 0.29 at 10.78 – change 2.76%

Enterprise Products Partners (EPD) up 0.23 at 24.44 – change 0.95%

EOG Resources (EOG) up 0.62 at 87.46 – change 0.71%

ExxonMobil (XOM) up 0.26 at 61.45 – change 0.42%

Kinder Morgan (KMI) up 0.01 at 18.78 – change 0.05%

Marathon Oil Corp. (MRO) unchanged at 13.80 – change 0.00%

National Oilwell Varco (NOV) down 0.02 at 17.66 – change 0.11%

Occidental Petroleum (OXY) down 0.14 at 29.14 – change 0.48%

Phillips 66 (PSX) up 2.27 at 91.48 – change 2.54%

Pioneer Natural Resources (PXD) up 0.20 at 170.30 – change 0.12%

Valero (VLO) down 0.18 at 83.24 – change 0.10%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.07 at 86.03 – change 0.08%

CenterPoint (CNP) up 0.01 at 25.40 – change 0.04%

Entergy (ETR) up 0.11 at 105.92 – change 0.10%

Jerry Bohnen