Worldwide crude oil tops $120 while Oklahoma energy stocks fall

Oil prices surge over 7% as global crude reserve release disappoints | Reuters

 

The move by European Union leaders to adopt a partial ban on Russian oil imports provided a spark for oil-producer stocks and sent the global price of oil to more than $120 a barrel on Tuesday. But Oklahoma energy stocks went the opposite direction.

 

After trading as high as two cents short of $120 a barrel, West Texas Intermediate crude for July delivery slipped 40 cents to close at $114.67 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude for July delivery went up at least 1% or $1.17 to finish the day at $122.84 a barrel on ICE Futures Europe. It had traded at more than $125 a barrel. The increase in price extended to nine consecutive sessions and left Brent crude up 52% so far this year.

July natural gas fell 58 cents or 7% to $8.15 per 1,000 cubic feet.

Oklahoma energy stocks couldn’t ride the coattails of global oil prices and many suffered losses for the day including a nearly 9% drop for NGL Energy Partners and a 6% drop for Chesapeake Energy.

 

 Alliance Resource Partners, L.P.
19.85 USD−0.020 (0.10%)
Blueknight Energy Partners LP Common Stock
4.53 USD0.00 (0.00%)
Chesapeake Energy Ord Shs
97.38 USD−5.77 (5.59%)
Continental Resources, Inc.
68.07 USD−0.94 (1.36%)
Coterra Energy Inc
34.33 USD−1.17 (3.30%)
Devon Energy Corp
74.90 USD−0.89 (1.17%)
Empire Petroleum Corporation
20.98 USD+0.14 (0.67%)
Gulfport Energy Corp
96.75 USD−1.53 (1.56%)
Helmerich & Payne, Inc.
50.35 USD−1.32 (2.55%)
LSB Industries, Inc.
20.12 USD+0.55 (2.81%)
Laredo Petroleum Inc
84.17 USD−0.78 (0.92%)
Magellan Midstream Partners, L.P.
51.70 USD+0.77 (1.51%)
Mammoth Energy Services Inc
2.15 USD−0.050 (2.27%)
Matrix Service Co
6.03 USD−0.080 (1.31%)
NGL Energy Partners LP
1.87 USD−0.18 (8.78%)
OGE Energy Corp.
41.30 USD−0.18 (0.43%)
ONE Gas Inc
87.02 USD−0.98 (1.11%)
ONEOK, Inc.
65.85 USD−1.17 (1.75%)
Ovintiv Inc
55.99 USD−0.52 (0.92%)
PHX Minerals Inc
3.50 USD−0.0100 (0.28%)
SandRidge Energy Inc.
23.57 USD−1.12 (4.54%)
Unit Corp
63.50 USD+0.50 (0.79%)
Williams Companies Inc
37.06 USD−0.40 (1.07%)

Crude oil: Crude seen hitting $150 level, and oil investors are to be blamed, Energy News, ET EnergyWorld

 

Other energy stocks had the same kind of down day according to the Texas Energy Report.

Apache (APA) down 0.61 at 47.01 – change 1.29%

Cheniere (LNG) down 1.56 at 136.77 – change 1.13%

Chevron (CVX) down 3.62 at 174.66 – change 2.04%

ConocoPhillips (COP) down 2.25 at 112.36 – change 1.96%

Diamondback Energy (FANG) down 0.64 at 152.02 – change 0.42%

Energy Transfer LP (ET) up 0.01 at 11.66 – change 0.08%

Enterprise Products Partners (EPD) down 0.18 at 27.42 – change 0.66%

EOG Resources (EOG) up 0.11 at 136.96 – change 0.08%

ExxonMobil (XOM) down 1.59 at 96.00 – change 1.63%

Kinder Morgan (KMI) down 0.25 at 19.69 – change 1.26%

Marathon Oil Corp. (MRO) up 0.36 at 31.43 – change 1.15%

National Oilwell Varco (NOV) down 0.12 at 20.00 – change 0.60%

Occidental Petroleum (OXY) down 1.55 at 69.31 – change 2.19%

Phillips 66 (PSX) down 0.92 at 100.81 – change 0.91%

Pioneer Natural Resources (PXD) down 2.06 at 277.94 – change 0.74%

Tellurian Inc. (TELL) down 0.08 at 4.76 – change 1.65%

Valero (VLO) down 2.21 at 129.60 – change 1.68%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 1.54 at 102.03 – change 1.49%

CenterPoint (CNP) down 0.37 at 32.04 – change 1.15%

Entergy (ETR) down 0.76 at 120.32 – change 0.63%