While the world hastens to return to a normal life following the coronavirus pandemic, demand grows for gasoline and it resulted in another big climb in crude oil prices in Monday’s trading as the markets reached into the $74 and $75 range in the US and overseas. As a result, it proved to be a very good day for Oklahoma energy stocks.
In the U.S., West Texas Intermediate crude for July delivery rose a stunning $2.02 a barrel and prices settled at $73.66 in trading on the New York Mercantile Exchange.
Global benchmark Brent crude oil for August delivery rose $1.39 and finished the day at $74.90 a barrel on ICE Futures Europe.
July natural gas fell 2 cents to $3.19 per 1,000 cubic feet.
The big climb in crude oil prices resulted in a strong Monday for Oklahoma energy stocks as three firms saw double-digit gains. Laredo Petroleum Inc. led the way with a 14.63% gain on a $9.58 climb to $75.06.
LSB Industries, Inc. gained 10.81% as its shares rose 63 cents to settle at $6.46. PHX Minerals Inc finished up 36 cents for a 10.71% gain to $3.72.
Cabot Oil & Gas (COG) up 0.60 at 15.93 – change 3.91%
Chevron (CVX) up 3.02 at 106.05 – change 2.93%
ConocoPhillips (COP) up 2.92 at 60.45 – change 5.08%
Diamondback Energy (FANG) up 5.32 at 91.50 – change 6.17%
Energy Transfer LP (ET) up 0.45 at 11.01 – change 4.26%
Enterprise Products Partners (EPD) up 0.07 at 24.05 – change 0.29%
ExxonMobil (XOM) up 2.11 at 62.59 – change 3.49%
Kinder Morgan (KMI) up 0.63 at 18.29 – change 3.57%
Marathon Oil Corp. (MRO) up 0.87 at 13.44 – change 6.92%
National Oilwell Varco (NOV) up 0.66 at 16.28 – change 4.23%
Occidental Petroleum (OXY) up 1.51 at 29.50 – change 5.39%
Phillips 66 (PSX) up 3.18 at 87.35 – change 3.78%
Pioneer Natural Resources (PXD) up 6.43 at 161.09 – change 4.16%
Valero (VLO) up 3.96 at 79.98 – change 5.21%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.84 at 83.19 – change 1.02%
CenterPoint (CNP) up 0.31 at 24.94 – change 1.26%
Entergy (ETR) up 1.10 at 104.49 – change 1.06%