Crude oil prices in the U.S. dropped below $70 a barrel as the Omicron coronavirus variant spread in Europe and across the U.S., creating more concerns from investors that fuel demand could be hurt by new restrictions. The fallout was felt by Oklahoma energy stocks.
West Texas Intermediate crude for January delivery fell $2.63 or 3.71% to $68.23 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for February delivery closed down $2 or nearly 2% to $71.52 on ICE Futures Europe.
January natural gas went up 14 cents or 3.90% to $3.83 per 1,000 cubic feet.
The falling oil prices and lack of confidence caused by the Omicron variant also left most Oklahoma energy stocks with losses in Monday’s trading. Matrix Service lost nearly 7% while Laredo Petroleum was close to 5%.
Apache (APA) down 0.44 at 23.94 – change 1.81%
Cheniere (LNG) up 0.71 at 101.12 – change 0.70%
Chevron (CVX) up 0.05 at 113.65 – change 0.04%
ConocoPhillips (COP) down 0.01 at 68.59 – change 0.02%
Diamondback Energy (FANG) down 3.31 at 99.12 – change 3.24%
Energy Transfer LP (ET) down 0.10 at 8.25 – change 1.20%
Enterprise Products Partners (EPD) down 0.33 at 20.73 – change 1.57%
EOG Resources (EOG) down 0.42 at 83.58 – change 0.50%
ExxonMobil (XOM) down 0.87 at 59.16 – change 1.46%
Kinder Morgan (KMI) down 0.36 at 15.24 – change 2.31%
Marathon Oil Corp. (MRO) down 0.29 at 14.86 – change 1.92%
National Oilwell Varco (NOV) down 0.45 at 12.81 – change 3.40%
Occidental Petroleum (OXY) down 1.06 at 26.98 – change 3.79%
Phillips 66 (PSX) down 2.37 at 69.43 – change 3.31%
Pioneer Natural Resources (PXD) down 1.04 at 172.65 – change 0.60%
Valero (VLO) unchanged at 68.69 – change 0.00%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.69 at 87.23 – change 0.79%
CenterPoint (CNP) up 0.02 at 27.00 – change 0.07%
Entergy (ETR) down 0.08 at 109.45 – change 0.07%