Cautious. Uncertain. It’s what traders remain over the fighting in Ukraine and as a result, crude oil prices on Friday dropped just a day after they had topped the $100 a barrel mark.
West Texas Intermediate crude for April delivery dropped $1.22 and settled at $91.59 in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for April delivery fell $1.15 and closed at $97.93 a barrel on ICE Futures Europe. Brent’s May delivery fell $1.30 and finished at $94.12 a barrel.
April natural gas fell 10 cents to $4.47 per 1,000 cubic feet.
While traders wondered what might happen in Ukraine, Oklahoma energy stocks recorded a strong day in trading. Several had 4% gains while SandRidge Energy rose more than 7% and PHX Minerals saw a more than 5% gain.
