The uncertainty following the collapse of OPEC+ talks left crude oil prices taking yet another slide on Thursday. It was the third consecutive day of losses for the industry and Oklahoma energy stocks felt the pain.
U.S. West Texas crude for August delivery fell 33 cents or 0.5% to settle at $71.87 a barrel. The fall for Brent crude on ICE Futures Europe was 23 cents or 0.3% to $73.20 a barrel.
The fall of Brent prices says talks between the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+ fell apart on Monday has been about 5%. The collapse of talks was blamed on Saudi Arabia’s refusal of demands by the United Arab Emirates to increase its output under the organization’s supply cut agreement.
The dropping oil prices hit Oklahoma energy stocks. Only a few firms managed to make gains in Thursday’s trading while most others saw losses for the day.
Others had their losses too.
Cabot Oil & Gas (COG) up 0.39 at 17.41 – change 2.29%
Chevron (CVX) down 0.33 at 102.60 – change 0.33%
ConocoPhillips (COP) up 0.20 at 59.21 – change 0.33%
Diamondback Energy (FANG) up 0.20 at 88.19 – change 0.22%
Energy Transfer LP (ET) down 0.10 at 10.37 – change 0.96%
Enterprise Products Partners (EPD) down 0.09 at 24.09 – change 0.38%
EOG Resources (EOG) down 1.20 at 79.89 – change 1.48%
ExxonMobil (XOM) down 0.27 at 60.14 – change 0.45%
Kinder Morgan (KMI) down 0.13 at 18.17 – change 0.72%
Marathon Oil Corp. (MRO) up 0.02 at 12.95 – change 0.15%
National Oilwell Varco (NOV) down 0.08 at 14.18 – change 0.57%
Occidental Petroleum (OXY) up 0.18 at 29.66 – change 0.61%
Phillips 66 (PSX) down 1.75 at 80.79 – change 2.13%
Pioneer Natural Resources (PXD) down 0.05 at 157.24 – change 0.03%
Valero (VLO) down 2.05 at 70.26 – change 2.84%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.31 at 85.31 – change 0.37%
CenterPoint (CNP) up 0.25 at 25.26 – change 0.99%
Entergy (ETR) down 0.52 at 102.27 – change 0.51%