Crude oil prices took a big hit on Monday and fell 7% on the worldwide markets after China’s financial hub of Shanghai implemented a lockdown to slow down a COVID-19 surge. The lockdown only raised fears again of harm to crude demand.
It was China’s biggest COVID lockdown in 2 years and brought new concerns about the loss of oil demand.
Global benchmark Brent crude for May delivery fell 6.77% or $8.17 to $112.48 a barrel on ICE Futures Europe.
Apache (APA) down 1.68 at 39.85 – change 4.05%
Cheniere (LNG) down 9.15 at 140.15 – change 6.13%
Chevron (CVX) down 2.96 at 166.35 – change 1.75%
ConocoPhillips (COP) down 4.00 at 103.50 – change 3.73%
Diamondback Energy (FANG) down 5.81 at 140.69 – change 3.97%
Energy Transfer LP (ET) up 0.31 at 10.88 – change 2.93%
Enterprise Products Partners (EPD) up 0.06 at 25.53 – change 0.23%
EOG Resources (EOG) down 3.65 at 120.86 – change 2.94%
ExxonMobil (XOM) down 2.39 at 82.81 – change 2.81%
Kinder Morgan (KMI) down 0.32 at 18.75 – change 1.68%
Marathon Oil Corp. (MRO) down 0.75 at 25.29 – change 2.87%
National Oilwell Varco (NOV) down 0.79 at 19.16 – change 3.96%
Occidental Petroleum (OXY) down 2.07 at 56.64 – change 3.53%
Phillips 66 (PSX) down 1.56 at 82.29 – change 1.87%
Pioneer Natural Resources (PXD) down 3.71 at 253.00 – change 1.45%
Tellurian Inc. (TELL) down 0.41 at 5.43 – change 7.03%
Valero (VLO) down 0.88 at 96.37 – change 0.91%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.77 at 97.61 – change 0.79%
CenterPoint (CNP) down 0.03 at 30.38 – change 0.10%
Entergy (ETR) up 0.51 at 115.34 – change 0.44%