Crude fell 6% and slipped below $100 in Tuesday’s trading

  • March 15, 2022

Falling Crude Oil Prices, and the Fallout - Commodity Trade Mantra

 

Crude oil took a more than 6% fall in Tuesday’s trading and settled below $100 a barrel, reaching the lowest level in nearly three weeks while the Dow rose and Oklahoma energy stocks took a hit.
It wasn’t the continued war in Ukraine that apparently worried investors but rather increased worries about demand for energy caused by tightened anti-COVID measures in China.
West Texas Intermediate crude for April delivery dropped $6.57 and finished the day at $96.44 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for May delivery tumbled $6.99 and settled at $99.91 a barrel on ICE Futures Europe.

 April natural gas fell 9 cents $4.57 per 1,000 cubic feet.

It proved to be another down day for Oklahoma energy stocks. Mammoth Energy dropped nearly 12%, Cypress Environmental 11% and SandRidge Energy 10%.

 

Alliance Resource Partners, L.P.
14.18 USD+0.070 (0.50%)
Blueknight Energy Partners LP Common Stock
3.28 USD−0.040 (1.20%)
Chesapeake Energy Ord Shs
75.46 USD−0.80 (1.05%)
Continental Resources, Inc.
56.74 USD−0.35 (0.61%)
Coterra Energy Inc
23.43 USD+0.30 (1.30%)
Cypress Environmental Partners LP
1.46 USD−0.18 (10.98%)
Devon Energy Corp
53.01 USD+0.33 (0.63%)
Gulfport Energy Corp
71.95 USD−2.04 (2.76%)
Helmerich & Payne, Inc.
39.09 USD−1.76 (4.31%)
LSB Industries, Inc.
18.34 USD−0.91 (4.73%)
Laredo Petroleum Inc
68.29 USD+0.55 (0.81%)
Magellan Midstream Partners, L.P.
47.01 USD−0.34 (0.72%)
Mammoth Energy Services Inc
1.78 USD−0.24 (11.88%)
Matrix Service Co
8.34 USD+0.060 (0.72%)
NGL Energy Partners LP
2.11 USD−0.050 (2.31%)
OGE Energy Corp.
38.70 USD+0.18 (0.47%)
ONE Gas Inc
85.10 USD−0.73 (0.85%)
ONEOK, Inc.
64.26 USD−0.26 (0.40%)
Ovintiv Inc
43.12 USD−0.72 (1.64%)
PHX Minerals Inc
2.48 USD−0.090 (3.50%)
SandRidge Energy Inc.
13.51 USD−1.49 (9.93%)
Units Ord Shs
60.00 USD0.00 (0.00%)
Williams Companies Inc
31.04 USD−0.030 (0.097%)
Crude oil prices drop after companies expand supply | WSET
 Other energy stocks were down too according to the Texas Energy Report.

Apache (APA) down 0.88 at 36.70 – change 2.35%

Cheniere (LNG) down 1.93 at 126.56 – change 1.51%

Chevron (CVX) down 8.44 at 158.28 – change 5.07%

ConocoPhillips (COP) down 1.50 at 95.05 – change 1.56%

Diamondback Energy (FANG) down 1.63 at 124.56 – change 1.30%

Energy Transfer LP (ET) down 0.08 at 9.75 – change 0.72%

Enterprise Products Partners (EPD) down 0.40 at 24.18 – change 1.63%

EOG Resources (EOG) down 2.02 at 113.82 – change 1.75%

ExxonMobil (XOM) down 4.66 at 77.22 – change 5.70%

Kinder Morgan (KMI) down 0.22 at 17.32 – change 1.26%

Marathon Oil Corp. (MRO) down 0.53 at 21.65 – change 2.39%

National Oilwell Varco (NOV) down 0.47 at 19.32 – change 2.38%

Occidental Petroleum (OXY) down 1.06 at 54.53 – change 1.91%

Phillips 66 (PSX) down 2.93 at 75.34 – change 3.75%

Pioneer Natural Resources (PXD) down 1.55 at 227.79 – change 0.68%

Valero (VLO) down 6.14 at 84.41 – change 6.79%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 1.37 at 96.11 – change 1.44%

CenterPoint (CNP) up 0.47 at 28.88 – change 1.65%

Entergy (ETR) up 0.98 at 111.25 – change 0.88%

Jerry Bohnen