Crude prices respond to EU ban of Russian oil

  • May 5, 2022

 Rising oil, gold prices bolster mining sectors | The Guardian Nigeria News - Nigeria and World News — Business — The Guardian Nigeria News – Nigeria and World News

Crude oil prices responded positively to news that the European Union is closer to a ban on Russian oil on the same day that natural gas prices hit their highest mark since the summer of 2008. But it had the reverse impact on Oklahoma energy stocks.
West Texas Intermediate crude for June delivery went up 45 cents to finish the day at $108.26 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude rose 76 cents and settled at $110.90 a barrel on ICE Futures Europe.
As for natural gas for June delivery, it managed a 37 cent jump to close at $8.78 per 1,000 cubic feet, the highest price since August of 2008.
The increased oil prices had just the opposite effect on Oklahoma energy stocks. They fell including Laredo Petroleum which lost 12%. The lone exception was Blueknight Energy which recorded a nearly 10% gain.
Alliance Resource Partners, L.P.
19.20 USD−0.060 (0.31%)
Blueknight Energy Partners LP Common Stock
4.53 USD+0.39 (9.55%)
Chesapeake Energy Ord Shs
95.57 USD+0.59 (0.62%)
Continental Resources, Inc.
61.01 USD+0.65 (1.08%)
Coterra Energy Inc
31.87 USD−0.92 (2.81%)
Cypress Environmental Partners LP
0.43 USD+0.0027 (0.63%)
Devon Energy Corp

67.15 USD−0.62 (0.91%)

 

Empire Petroleum Corporation
24.55 USD−0.25 (1.01%)
Gulfport Energy Corp
97.19 USD−3.81 (3.77%)
Helmerich & Payne, Inc.
48.41 USD−2.12 (4.20%)
LSB Industries, Inc.
19.49 USD−1.05 (5.09%)
Laredo Petroleum Inc
68.65 USD−9.66 (12.34%)
Magellan Midstream Partners, L.P.
48.90 USD−2.10 (4.12%)
Mammoth Energy Services Inc
2.31 USD−0.070 (2.94%)
Matrix Service Co
6.64 USD−0.35 (5.01%)
NGL Energy Partners LP
1.95 USD−0.100 (4.88%)
OGE Energy Corp.
39.34 USD−0.22 (0.56%)
ONE Gas Inc
84.79 USD−1.03 (1.20%)
ONEOK, Inc.
64.05 USD−3.29 (4.89%)
Ovintiv Inc
55.13 USD−1.60 (2.82%)
PHX Minerals Inc
3.69 USD−0.18 (4.65%)
SandRidge Energy Inc.
20.26 USD−0.14 (0.69%)
Units Ord Shs
59.94 USD−0.31 (0.51%)
Williams Companies Inc
35.91 USD−0.98 (2.66%)
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 It was certainly a down day for other energy stocks according to the Texas Energy Report.
 

Apache (APA) down 3.90 at 41.30 – change 8.63%

Cheniere (LNG) down 3.50 at 142.80 – change 2.40%

Chevron (CVX) down 1.33 at 166.26 – change 0.80%

ConocoPhillips (COP) down 1.00 at 102.86 – change 0.97%

Diamondback Energy (FANG) down 3.90 at 138.59 – change 2.74%

Energy Transfer LP (ET) down 0.20 at 11.88 – change 1.66%

Enterprise Products Partners (EPD) down 0.36 at 26.61 – change 1.34%

EOG Resources (EOG) down 1.35 at 123.42 – change 1.09%

ExxonMobil (XOM) down 1.39 at 90.31 – change 1.52%

Kinder Morgan (KMI) down 0.43 at 18.85 – change 2.24%

Marathon Oil Corp. (MRO) down 0.01 at 27.68 – change 0.04%

National Oilwell Varco (NOV) down 0.54 at 18.79 – change 2.80%

Occidental Petroleum (OXY) up 0.72 at 62.29 – change 1.16%

Phillips 66 (PSX) down 1.65 at 94.52 – change 1.72%

Pioneer Natural Resources (PXD) up 3.70 at 256.48 – change 1.46%

Tellurian Inc. (TELL) down 0.25 at 4.80 – change 4.96%

Valero (VLO) down 2.40 at 125.83 – change 1.88%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 1.06 at 99.66 – change 1.06%

CenterPoint (CNP) down 0.40 at 30.94 – change 1.28%

Entergy (ETR) down 0.36 at 118.30 – change 0.31%

Jerry Bohnen