Worries about anticipated crude oil supplies caused by sanctions on Russia resulted in a price rebound on Thursday as crude rose 8% and finished above $100 a barrel. Oklahoma energy stocks rebounded as well with some seeing gains of more than 10%.
West Texas Intermediate crude for April delivery went up $7.94 and closed at $102.98 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for May delivery rose $8.62 and settled at $106.64 a barrel on ICE Futures Europe.
April natural gas rose 24 cents $4.99 per 1,000 cubic feet.
What a rebounding day for Oklahoma energy stocks. More than half a dozen firms had gains of 6% or greater with Devon up 10% and Cypress Environmental Partners scoring a nearly 25% gain for the day.
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