As the threat of a Russian invasion of Ukraine became more imminent on Friday, crude oil trading responded in a big way. So did Oklahoma energy stocks.
West Texas Intermediate crude for March delivery jumped $3.22 or more than 3.5% to finish Friday’s trading at $93.10 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for April delivery increased $3.03 or 3.31% and closed at $94.44 a barrel on ICE Futures Europe.
March natural gas fell 2 cents to $3.94 per 1,000 cubic feet.
Put another way, crude prices are only about $7 away from $100 a barrel in the U.S. and closer to $5 globally. Trading responded as U.S. officials said an invasion was imminent.
National security adviser Jake Sullivan told reporters Friday afternoon the “threat is immediate” and urged the 30,000 Americans living or working in Ukraine to evacuate.
The prospects of a war in Eastern Europe are closer than ever and the impact on Oklahoma energy stocks was obvious.
Continental Resources recorded a 7% gain while LSB Industries had a 13% gain and Laredo Petroleum rose 8%.
Apache (APA) up 0.68 at 34.14 – change 2.03%
Cheniere (LNG) up 4.40 at 120.24 – change 3.79%
Chevron (CVX) up 2.77 at 138.81 – change 2.03%
ConocoPhillips (COP) up 2.06 at 93.52 – change 2.26%
Diamondback Energy (FANG) up 5.15 at 135.57 – change 3.94%
Energy Transfer LP (ET) up 0.30 at 10.30 – change 3.00%
Enterprise Products Partners (EPD) up 0.60 at 24.68 – change 2.49%
EOG Resources (EOG) up 4.09 at 116.75 – change 3.63%
ExxonMobil (XOM) up 1.97 at 80.20 – change 2.51%
Kinder Morgan (KMI) up 0.34 at 17.54 – change 1.97%
Marathon Oil Corp. (MRO) up 0.80 at 22.21 – change 3.73%
National Oilwell Varco (NOV) up 0.90 at 17.25 – change 5.50%
Occidental Petroleum (OXY) up 2.29 at 42.98 – change 5.65%
Phillips 66 (PSX) up 3.74 at 93.20 – change 4.18%
Pioneer Natural Resources (PXD) up 8.76 at 230.88 – change 3.94%
Valero (VLO) up 2.11 at 92.00 – change 2.34%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.26 at 87.65 – change 0.29%
CenterPoint (CNP) down 0.22 at 27.40 – change 0.80%
Entergy (ETR) down 0.63 at 105.82 – change 0.60%
