U.S. crude oil prices finished up 1% Tuesday at a three-month high, bouncing back from a slight drop in Monday’s trading. Traders said the gain was based on supply concerns and a number of other geopolitical issues including the prospects for demand growth in China where coronavirus lockdowns are finally being eased.
It also proved to be a day of gains for many Oklahoma energy stocks with one firm going up 10%.
Global benchmark Brent crude for delivery in August rose $1.06 and closed at $120.57 a barrel in trading on ICE Futures Europe.
While oil prices rebounded, natural gas prices fell on Tuesday. July natural gas dropped 3 cents to $9.29 per 1,000 cubic feet.
It was a good day for Oklahoma energy stocks as Laredo Petroleum recorded a 10% gain and Mammoth Energy went up 7%, Ovintiv 5%, and PHX Minerals and SandRidge saw 6% gains.
Apache (APA) up 2.84 at 51.39 – change 5.84%
Cheniere (LNG) up 6.24 at 146.25 – change 4.45%
Chevron (CVX) up 3.37 at 180.20 – change 1.90%
ConocoPhillips (COP) up 5.33 at 122.71 – change 4.54%
Diamondback Energy (FANG) up 4.59 at 160.40 – change 2.94%
Energy Transfer LP (ET) up 0.45 at 12.31 – change 3.79%
Enterprise Products Partners (EPD) up 0.31 at 28.47 – change 1.10%
EOG Resources (EOG) up 4.82 at 145.93 – change 3.41%
ExxonMobil (XOM) up 4.53 at 103.37 – change 4.58%
Kinder Morgan (KMI) up 0.35 at 20.14 – change 1.76%
Marathon Oil Corp. (MRO) up 0.76 at 32.17 – change 2.41%
National Oilwell Varco (NOV) up 0.56 at 21.62 – change 2.70%
Occidental Petroleum (OXY) up 0.94 at 70.55 – change 1.35%
Phillips 66 (PSX) up 3.90 at 109.92 – change 3.67%
Pioneer Natural Resources (PXD) up 6.54 at 285.27 – change 2.34%
Tellurian Inc. (TELL) up 0.10 at 4.55 – change 2.24%
Valero (VLO) up 6.39 at 145.08 – change 4.60%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.37 at 102.43 – change 0.36%
CenterPoint (CNP) up 0.53 at 32.07 – change 1.68%
Entergy (ETR) down 0.03 at 121.31 – change 0.03%