The proposal by the European Union to phase out Russian oil purchases within 6 months caused a sharp rise in crude oil prices on Wednesday.
West Texas Intermediate crude for June delivery went up $5.40 to settle at $107.81 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for July delivery increased $5.17 to finish the day at $110.14 a barrel on ICE Futures Europe.
June natural gas rose 47 cents to $8.42 per 1,000 cubic feet.
It proved to be another day of gains for Oklahoma energy stocks. Chesapeake and PHX Minerals rose more than 7% and Helmerich & Payne went up 6%.
Apache (APA) up 2.68 at 45.20 – change 6.30%
Cheniere (LNG) up 5.84 at 146.30 – change 4.15%
Chevron (CVX) up 5.09 at 167.59 – change 3.13%
ConocoPhillips (COP) up 4.93 at 103.86 – change 4.98%
Diamondback Energy (FANG) up 6.38 at 142.49 – change 4.68%
Energy Transfer LP (ET) up 0.34 at 12.08 – change 2.89%
Enterprise Products Partners (EPD) up 0.83 at 26.97 – change 3.17%
EOG Resources (EOG) up 4.01 at 124.77 – change 3.32%
ExxonMobil (XOM) up 3.51 at 91.70 – change 3.98%
Kinder Morgan (KMI) up 0.60 at 19.28 – change 3.21%
Marathon Oil Corp. (MRO) up 1.44 at 27.69 – change 5.48%
National Oilwell Varco (NOV) up 0.69 at 19.32 – change 3.70%
Occidental Petroleum (OXY) up 2.33 at 61.57 – change 3.93%
Phillips 66 (PSX) up 5.38 at 96.17 – change 5.92%
Pioneer Natural Resources (PXD) up 9.08 at 252.78 – change 3.72%
Tellurian Inc. (TELL) down 0.12 at 5.05 – change 2.33%
Valero (VLO) up 6.83 at 128.22 – change 5.62%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 2.14 at 100.72 – change 2.17%
CenterPoint (CNP) up 0.80 at 31.34 – change 2.61%
Entergy (ETR) up 2.14 at 118.66 – change 1.83%