The Cushing crude oil hub saw a slight gain in storage in the past week while nationally, U.S. crude inventories showed a larger-than-expected drop, resulting in a climb in oil futures on Thursday.
At the same time, OPEC + decided to increase output in July and August. The organization agreed to raise its production target by 648,000 barrels a day during the two months.
West Texas Intermediate crude for July delivery rose $1.61 or 1.4% and settled at $116,87 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for July rose $1.32 or 1.1% to finish at $117.61 a barrel on ICE Futures Europe.
July natural gas finished down 2.43% at $8.485 per million British thermal units.
It proved to be a ho-hum day for Oklahoma energy stocks. LSB Industries was the big gainer for the day at about 5% and PHX Minerals rose more than 3%.
Apache (APA) down 0.15 at 47.47 – change 0.32%
Cheniere (LNG) up 3.39 at 143.37 – change 2.42%
Chevron (CVX) down 0.32 at 176.00 – change 0.19%
ConocoPhillips (COP) down 0.79 at 114.96 – change 0.69%
Diamondback Energy (FANG) up 1.01 at 153.90 – change 0.66%
Energy Transfer LP (ET) up 0.07 at 12.01 – change 0.58%
Enterprise Products Partners (EPD) up 0.19 at 28.14 – change 0.67%
EOG Resources (EOG) down 0.49 at 139.44 – change 0.36%
ExxonMobil (XOM) down 0.17 at 97.67 – change 0.18%
Kinder Morgan (KMI) down 0.06 at 19.96 – change 0.30%
Marathon Oil Corp. (MRO) down 0.18 at 31.20 – change 0.58%
National Oilwell Varco (NOV) down 0.10 at 20.18 – change 0.50%
Occidental Petroleum (OXY) down 1.13 at 69.30 – change 1.60%
Phillips 66 (PSX) down 0.18 at 103.00 – change 0.18%
Pioneer Natural Resources (PXD) down 2.53 at 275.29 – change 0.92%
Tellurian Inc. (TELL) up 0.51 at 5.00 – change 11.35%
Valero (VLO) up 1.07 at 133.62 – change 0.80%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.21 at 102.25 – change 0.20%
CenterPoint (CNP) up 0.04 at 32.10 – change 0.12%
Entergy (ETR) up 0.23 at 120.41 – change 0.19%