Crude oil prices fell slightly in Tuesday’s trading but remained above $100 a barrel as analysts explained there are still growing worries that demand will be slowed by new coronavirus cases.
West Texas Intermediate crude fell $1.32 or 1.3% and settled at $101.96 on the New York Mercantile Exchange.
Global benchmark Brent futures dropped 89 cents or 0.8% and closed at $106.64 a barrel on ICE Futures Europe.
At one point, prices increased by more than $2 barrel after the International Energy Agency indicated there were still discussions of a coordinated release of oil reserves.
The slight drop in crude prices also resulted in losses for Oklahoma energy stock including an 8% drops for Cypress Environment and Mammoth Energy and 5% losses for Ovintiv and Unit Corporation.
Apache (APA) down 1.29 at 41.69 – change 3.01%
Cheniere (LNG) down 0.68 at 140.76 – change 0.49%
Chevron (CVX) down 1.01 at 163.36 – change 0.62%
ConocoPhillips (COP) down 2.50 at 98.05 – change 2.49%
Diamondback Energy (FANG) down 4.12 at 135.47 – change 2.95%
Energy Transfer LP (ET) down 0.26 at 11.19 – change 2.28%
Enterprise Products Partners (EPD) down 0.02 at 26.02 – change 0.08%
EOG Resources (EOG) down 3.00 at 117.83 – change 2.49%
ExxonMobil (XOM) down 0.43 at 82.73 – change 0.52%
Kinder Morgan (KMI) down 0.38 at 18.92 – change 1.97%
Marathon Oil Corp. (MRO) down 0.88 at 24.80 – change 3.43%
National Oilwell Varco (NOV) down 0.77 at 19.37 – change 3.83%
Occidental Petroleum (OXY) down 2.07 at 55.72 – change 3.59%
Phillips 66 (PSX) down 0.76 at 85.91 – change 0.88%
Pioneer Natural Resources (PXD) down 8.27 at 244.48 – change 3.28%
Tellurian Inc. (TELL) down 0.18 at 6.01 – change 2.91%
Valero (VLO) up 0.72 at 101.46 – change 0.71%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.66 at 101.31 – change 0.65%
CenterPoint (CNP) up 0.10 at 31.03 – change 0.32%
Entergy (ETR) up 1.90 at 121.31 – change 1.59%
