Despite tight crude supplies in the U.S., oil prices slumped again in Monday’s trading as prices nationally settled just above $74 a barrel.
Analysts blamed growing concerns over spreading COVID-19 variants, concerns that brought fuel demand to near pre-pandemic levels.
West Texas Intermediate crude for August delivery finished down 46 cents or 0.6% and settled at $74.10 a barrel.
Brent crude for September settled at $75.16 a barrel, losing 39 cents, or 0.5%.
Both benchmarks shed about 1% last week, stalling out a rally that had brought both U.S. crude and Brent to levels not seen since October 2018 reported Reuters.
Most Oklahoma energy stocks also suffered losses in Monday’s trading and the biggest was PHX Minerals Inc which suffered a 8.24% loss on a 31-cent drop to $3.45 per share.
Others didn’t have quite as big a loss.
Alliance Resource Partners, L.P.
Cabot Oil & Gas (COG) up 0.08 at 17.69 – change 0.45%
Chevron (CVX) up 0.23 at 104.28 – change 0.22%
ConocoPhillips (COP) down 0.32 at 59.80 – change 0.53%
Diamondback Energy (FANG) up 0.41 at 89.83 – change 0.46%
Energy Transfer LP (ET) down 0.13 at 10.46 – change 1.23%
Enterprise Products Partners (EPD) up 0.18 at 24.60 – change 0.72%
EOG Resources (EOG) up 0.71 at 83.30 – change 0.86%
ExxonMobil (XOM) down 0.06 at 61.17 – change 0.10%
Kinder Morgan (KMI) down 0.15 at 18.52 – change 0.80%
Marathon Oil Corp. (MRO) up 0.07 at 13.33 – change 0.53%
National Oilwell Varco (NOV) up 0.04 at 15.07 – change 0.27%
Occidental Petroleum (OXY) down 0.26 at 29.99 – change 0.86%
Phillips 66 (PSX) down 0.30 at 82.40 – change 0.36%
Pioneer Natural Resources (PXD) down 0.94 at 157.06 – change 0.59%
Valero (VLO) down 0.61 at 71.68 – change 0.84%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.02 at 85.41 – change 0.02%
CenterPoint (CNP) down 0.21 at 25.21 – change 0.98%
Entergy (ETR) up 0.12 at 103.04 – change 0.12%