An early rally failed Wednesday as crude oil prices sunk again, largely on growing worries about the Omicron variant and how it could cut demand as global supply grows. As a result, Oklahoma energy stocks took a pounding.
The decline occurred after U.S. government officials confirmed the variant had been discovered in California where a traveler recently returned from South Africa.
West Texas Intermediate crude fell 61 cents or nearly 1% to $65.57 a barrel in trading on the New York Mercantile Exchange.
Earlier in the day, WTI prices had been up nearly 4%.
Global benchmark Brent Crude fell 36 cents or half a percentage point to settle at $68.87 a barrel on ICE Futures Europe.
Oklahoma energy stocks suffered on Wednesday with an 8% loss recorded by Gulfport Energy, 7% losses by Laredo Petroleum, NGL Energy and PHX Minerals and 5% losses by a handful of others.
Alliance Resource Partners, L.P.
NASDAQ: ARLP
9.92 USD −0.31 (3.03%)
Blueknight Energy Partners LP Common Stock
NASDAQ: BKEP
3.28 USD 0.00 (0.00%)
Chesapeake Energy Ord Shs
NASDAQ: CHK
57.00 USD −2.54 (4.27%)
Continental Resources, Inc.
NYSE: CLR
42.68 USD −1.66 (3.74%)
Coterra Energy Inc
NYSE: CTRA
19.74 USD −0.34 (1.69%)
Cypress Environmental Partners LP
NYSE: CELP
1.28 USD −0.030 (2.29%)
Devon Energy Corp
NYSE: DVN
40.84 USD −1.16 (2.76%)
Enable Midstream Partners LP
NYSE: ENBL
6.95 USD −0.19 (2.66%)
Gulfport Energy Corp
NYSE: GPOR
67.12 USD −5.87 (8.04%)
Helmerich & Payne, Inc.
NYSE: HP
21.28 USD −1.19 (5.30%)
LSB Industries, Inc.
NYSE: LXU
9.00 USD −0.010 (0.11%)
Laredo Petroleum Inc
NYSE: LPI
54.30 USD −4.60 (7.81%)
Magellan Midstream Partners, L.P.
NYSE: MMP
45.74 USD −0.64 (1.38%)
Mammoth Energy Services Inc
NASDAQ: TUSK
1.99 USD +0.060 (3.11%)
Matrix Service Co
NASDAQ: MTRX
8.26 USD −0.43 (4.95%)
NGL Energy Partners LP
NYSE: NGL
1.90 USD −0.14 (6.86%)
OGE Energy Corp.
NYSE: OGE
34.52 USD +0.19 (0.55%)
PHX Minerals Inc
NYSE: PHX
2.31 USD −0.17 (6.85%)
SandRidge Energy Inc.
NYSE: SD
10.03 USD −0.60 (5.64%)
Units Ord Shs
OTCMKTS: UNTC
34.70 USD −0.15 (0.43%)
Williams Companies Inc
NYSE: WMB
26.64 USD −0.16 (0.60%)