Crude oil prices take another slide down

What to Do About Falling Oil Prices: Pivot Your Procurement and Supply Chain Strategy | GEP

 

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.

7.61 USD−0.19 (2.44%)
Blueknight Energy Partners LP 
3.59 USD+0.040 (1.13%)
Chesapeake Energy 
54.74 USD−0.070 (0.13%)
Cimarex Energy Co
74.28 USD+0.14 (0.19%)
Continental Resources, Inc.
38.21 USD−0.14 (0.37%)
Cypress Environmental Partners LP
2.45 USD−0.030 (1.21%)
Devon Energy Corp
28.70 USD+0.050 (0.17%)
Enable Midstream Partners LP
8.97 USD−0.17 (1.86%)
Gulfport Energy Operating Corp
68.79 USD+2.48 (3.74%)
Helmerich & Payne, Inc.
31.92 USD−0.14 (0.44%)
LSB Industries, Inc.
5.66 USD+0.27 (5.01%)
Laredo Petroleum Inc
76.29 USD−4.00 (4.98%)
Magellan Midstream Partners, L.P.
48.02 USD−0.35 (0.72%)
Mammoth Energy Services Inc
4.88 USD+0.12 (2.52%)
Matrix Service Co
11.05 USD+0.060 (0.55%)
NGL Energy Partners LP
2.41 USD+0.045 (1.90%)
OGE Energy Corp.
33.95 USD+0.020 (0.059%)
ONE Gas Inc
73.67 USD+0.73 (1.00%)
ONEOK, Inc.
56.92 USD−0.58 (1.01%)
Ovintiv Inc
30.48 USD−0.070 (0.23%)
SandRidge Energy Inc.
5.70 USD−0.10 (1.72%)
Unit Corp
19.50 USD+0.34 (1.76%)
Williams Companies Inc
26.50 USD−0.20 (0.75%)
8 Beaten-Down Energy Stocks to Buy Low | Kiplinger
Other energy stocks also didn’t have the best of trading days according to the Texas Energy Report.

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%