Since Russia didn’t invade Ukraine this week as some observers had predicted, interest switched to the Biden administration’s resurrection of a nuclear deal with Iran, causing a 2% drop in crude oil prices.
Analysts suggests such an Iranian deal, reversing the tough sanctions of the Trump administration might unlock more crude supplies to the world.
Such possibilities resulted in a $1.90 drop to $91.76 a barrel on the New York Mercantile Exchange for West Texas Intermediate crude for March delivery.
Brent crude for April delivery went down $1.84 and settled at $92.97 a barrel on ICE Futures Europe.
March natural gas fell 23 cents to $4.49 per 1,000 cubic feet.
Apache (APA) down 0.01 at 32.39 – change 0.04%
Cheniere (LNG) up 0.99 at 115.88 – change 0.86%
Chevron (CVX) down 0.69 at 133.61 – change 0.52%
ConocoPhillips (COP) up 0.95 at 91.16 – change 1.05%
Diamondback Energy (FANG) down 0.13 at 129.69 – change 0.11%
Energy Transfer LP (ET) up 0.09 at 10.22 – change 0.88%
Enterprise Products Partners (EPD) down 0.23 at 23.76 – change 0.96%
EOG Resources (EOG) up 0.83 at 112.60 – change 0.74%
ExxonMobil (XOM) down 0.12 at 78.23 – change 0.16%
Kinder Morgan (KMI) down 0.37 at 16.76 – change 2.16%
Marathon Oil Corp. (MRO) up 0.82 at 21.89 – change 3.89%
National Oilwell Varco (NOV) down 0.06 at 17.11 – change 0.35%
Occidental Petroleum (OXY) up 0.21 at 39.86 – change 0.52%
Phillips 66 (PSX) down 1.26 at 87.04 – change 1.43%
Pioneer Natural Resources (PXD) up 7.65 at 230.13 – change 3.43%
Valero (VLO) down 1.00 at 87.04 – change 1.14%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.08 at 85.49 – change 0.09%
CenterPoint (CNP) down 0.08 at 26.81 – change 0.27%
Entergy (ETR) up 0.99 at 104.95 – change 0.95%