Increased U.S. gasoline inventories and growing concern about slower economic growth around the world sent crude oil prices falling nearly 2% in Wednesday’s trading. Oklahoma energy stocks also recorded big losses for the day.
West Texas Intermediate crude for August delivery dropped nearly $2 a barrel to finish the day at $109.78 in trading on the New York Mercantile Exchange.
Global benchmark Brent crude tumbled $1.72 to $116.26 a barrel in ICE Futures Europe.
As for Oklahoma energy stocks, it was not a good day. Take for instance NGL Energy Partners. It lost more than 11% and losses of 6, 7 and 8% were recorded by Devon Energy, Laredo Petroleum, Matrix, Ovintiv, PHX Minerals and SandRidge Energy.
August natural gas fell 7 cents to $6.50 per 1,000 cubic feet.
Other energy stocks also experienced losses for the day according to the Texas Energy Report.
Apache (APA) down 2.67 at 36.10 – change 6.89%
Cheniere (LNG) down 0.36 at 134.50 – change 0.27%
Chevron (CVX) down 2.96 at 146.97 – change 2.98%
ConocoPhillips (COP) down 3.76 at 91.46 – change 3.95%
Diamondback Energy (FANG) down 7.49 at 122.31 – change 5.78%
Energy Transfer LP (ET) down 0.16 at 10.18 – change 1.55%
Enterprise Products Partners (EPD) down 0.21 at 24.56 – change 0.85%
EOG Resources (EOG) down 5.09 at 113.22 – change 4.31%
ExxonMobil (XOM) down 3.38 at 88.12 – change 3.70%
Kinder Morgan (KMI) down 0.29 at 16.92 – change 1.63%
Marathon Oil Corp. (MRO) down 1.34 at 22.79 – change 5.56%
National Oilwell Varco (NOV) down 0.27 at 17.05 – change 1.56%
Occidental Petroleum (OXY) down 2.61 at 59.10 – change 4.23%
Phillips 66 (PSX) down 4.27 at 84.58 – change 4.81%
Pioneer Natural Resources (PXD) down 9.15 at 226.18 – change 3.89%
Tellurian Inc. (TELL) down 0.23 at 3.04 – change 7.04%
Valero (VLO) down 7.40 at 108.85 – change 6.37%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.28 at 95.37 – change 0.30%
CenterPoint (CNP) up 0.03 at 29.12 – change 0.10%
Entergy (ETR) down 0.16 at 111.69 – change 0.15%
