US crude close to $78—highest in 7 years

Oil Prices Seesaw, Close at $137 on Supply Worries

 

The decision by OPEC+ to remain with its current crude oil production policy prompted crude oil prices to jump in Monday’s trading as overseas prices hit $81 a barrel while in the US prices reached their highest mark since 2014.

As a result, Oklahoma energy stocks had a strong Monday with at least one firm recording a more than 15% gain for the day.

OPEC+’s decision came even though some countries are demanding a bigger boost in production to keep prices down. As a result, prices were sharply higher including West Texas Intermediate crude for November delivery which went up $1.74 or 2.3% to finish the day at $77.62 a barrel, the highest since 2014.

Global benchmark Brent crude rose $1.98 or 2.5% and settled at $81.26 a barrel, a mark not seen since 2018.

Big gains were recorded by Oklahoma energy stocks including a more than 15% jump by Cypress Environmental Partners and 10% gains seen by LSB Industries and Unit Corporation.

Alliance Resource Partners, L.P.
NASDAQ: ARLP
11.92 USD +0.42 (3.65%)
Blueknight Energy Partners LP Common Stock
NASDAQ: BKEP
3.09 USD +0.030 (0.98%)
Chesapeake Energy Ord Shs
NASDAQ: CHK
64.64 USD +2.56 (4.12%)
Continental Resources, Inc.
NYSE: CLR
49.73 USD +2.36 (4.98%)
Cypress Environmental Partners LP
NYSE: CELP
1.88 USD +0.25 (15.34%)
Devon Energy Corp
NYSE: DVN
38.76 USD +1.95 (5.30%)
Enable Midstream Partners LP
NYSE: ENBL
8.61 USD +0.32 (3.86%)
Gulfport Energy Corp
NYSE: GPOR
83.14 USD +1.12 (1.37%)
Helmerich & Payne, Inc.
NYSE: HP
30.17 USD +1.62 (5.67%)
LSB Industries, Inc.
NYSE: LXU
12.86 USD +1.13 (9.63%)
Laredo Petroleum Inc
NYSE: LPI
87.82 USD +2.79 (3.28%)
Magellan Midstream Partners, L.P.
NYSE: MMP
46.25 USD +0.52 (1.14%)
Mammoth Energy Services Inc
NASDAQ: TUSK
3.05 USD +0.0100 (0.33%)
Matrix Service Co
NASDAQ: MTRX
10.64 USD −0.18 (1.66%)
NGL Energy Partners LP
NYSE: NGL
2.37 USD −0.020 (0.84%)
OGE Energy Corp.
NYSE: OGE
33.64 USD +0.64 (1.94%)
ONE Gas Inc
NYSE: OGS
67.37 USD +2.36 (3.63%)
ONEOK, Inc.
NYSE: OKE
60.06 USD +0.61 (1.03%)
Ovintiv Inc
NYSE: OVV
35.04 USD +1.92 (5.80%)
PHX Minerals Inc
NYSE: PHX
3.34 USD +0.15 (4.70%)
SandRidge Energy Inc.
NYSE: SD
13.73 USD +0.14 (1.03%)
Units Ord Shs
OTCMKTS: UNTC
34.00 USD +3.00 (9.68%)
Williams Companies Inc
NYSE: WMB
27.34 USD +0.94 (3.56%)
 Oil prices jump as demand shows signs of picking up - BIC Magazine
It was also a pretty good trading day for other energy stocks according to the Texas Energy Report.

Apache (APA) up 0.26 at 22.06 – change 1.19%

Cabot Oil & Gas (COG) up 0.52 at 22.25 – change 2.39%

Cheniere (LNG) up 3.47 at 102.30 – change 3.51%

Chevron (CVX) up 0.39 at 104.72 – change 0.37%

ConocoPhillips (COP) up 1.39 at 71.49 – change 1.98%

Diamondback Energy (FANG) up 4.52 at 103.38 – change 4.57%

Energy Transfer LP (ET) up 0.32 at 10.08 – change 3.33%

Enterprise Products Partners (EPD) up 0.85 at 22.63 – change 3.93%

EOG Resources (EOG) up 2.49 at 86.40 – change 2.97%

ExxonMobil (XOM) up 0.78 at 61.72 – change 1.29%

Kinder Morgan (KMI) up 0.04 at 16.94 – change 0.24%

Marathon Oil Corp. (MRO) up 0.59 at 14.83 – change 4.14%

National Oilwell Varco (NOV) up 0.22 at 13.69 – change 1.63%

Occidental Petroleum (OXY) up 0.66 at 31.81 – change 2.12%

Phillips 66 (PSX) up 3.14 at 75.71 – change 4.33%

Pioneer Natural Resources (PXD) up 4.24 at 178.97 – change 2.43%

Valero (VLO) up 1.36 at 75.02 – change 1.85%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 1.66 at 83.04 – change 2.04%

CenterPoint (CNP) up 0.59 at 25.49 – change 2.37%

Entergy (ETR) up 2.01 at 101.38 – change 2.02%