While U.S. Senators used a hearing with Canadian officials to point out how the Biden administration intends to buy oil from U.S. enemies rather than from Canada, the Biden administration began easing sanctions on Venezuela.
As a result, crude oil prices dropped in Tuesday’s trading. Reports indicated the easing of sanctions is being carried out so Chevon can talk with Venezuela’s state-owned oil company.
West Texas Intermediate crude for June delivery dropped $1.80 and settled at $112.40 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for July delivery fell $2.31, closing at $111.93 a barrel, less than the going price in the states.
Apache (APA) up 0.73 at 43.14 – change 1.72%
Cheniere (LNG) up 0.28 at 137.05 – change 0.20%
Chevron (CVX) up 1.02 at 174.03 – change 0.58%
ConocoPhillips (COP) up 1.52 at 107.02 – change 1.44%
Diamondback Energy (FANG) up 0.15 at 131.44 – change 0.11%
Energy Transfer LP (ET) up 0.39 at 11.73 – change 3.43%
Enterprise Products Partners (EPD) up 0.34 at 26.80 – change 1.28%
EOG Resources (EOG) up 1.06 at 127.42 – change 0.83%
ExxonMobil (XOM) up 1.15 at 92.11 – change 1.27%
Kinder Morgan (KMI) up 0.35 at 19.73 – change 1.80%
Marathon Oil Corp. (MRO) up 0.46 at 28.36 – change 1.64%
National Oilwell Varco (NOV) up 0.56 at 18.92 – change 3.10%
Occidental Petroleum (OXY) up 0.22 at 67.94 – change 0.32%
Phillips 66 (PSX) up 0.64 at 97.72 – change 0.65%
Pioneer Natural Resources (PXD) up 7.75 at 276.52 – change 2.88%
Tellurian Inc. (TELL) up 0.57 at 4.88 – change 13.48%
Valero (VLO) up 0.28 at 128.06 – change 0.21%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.01 at 100.40 – change 1.01%
CenterPoint (CNP) up 0.40 at 31.37 – change 1.29%
Entergy (ETR) up 0.52 at 118.31 – change 0.44%