Oklahoma energy stocks paid the price Wednesday as some firms suffered losses of 8, 9 and 10% following Federal Reserve Chair Jerome Powell’s comments about being committed to bring down inflation.
Local energy stocks dropped along with crude oil prices and major U.S. stock indexes following his comments.
July natural gas rose 5 cents to $6.86 per 1,000 cubic feet.
Wednesday was a day of painful losses for many Oklahoma energy stocks including a 10% drop for Laredo Petroleum and 9% declines for such firms as NGL Energy Partners and Ovintiv.
Apache (APA) down 2.85 at 37.50 – change 7.07%
Cheniere (LNG) down 5.89 at 126.84 – change 4.44%
Chevron (CVX) down 6.72 at 147.87 – change 4.35%
ConocoPhillips (COP) down 6.22 at 93.06 – change 6.27%
Diamondback Energy (FANG) down 6.18 at 126.10 – change 4.68%
Energy Transfer LP (ET) down 0.38 at 10.00 – change 3.67%
Enterprise Products Partners (EPD) down 0.36 at 24.09 – change 1.48%
EOG Resources (EOG) down 6.88 at 110.77 – change 5.85%
ExxonMobil (XOM) down 3.62 at 87.86 – change 3.96%
Kinder Morgan (KMI) down 0.31 at 16.34 – change 1.87%
Marathon Oil Corp. (MRO) down 1.80 at 22.10 – change 7.23%
National Oilwell Varco (NOV) down 0.65 at 16.46 – change 3.80%
Occidental Petroleum (OXY) down 2.10 at 55.77 – change 3.63%
Phillips 66 (PSX) down 5.47 at 90.51 – change 5.70%
Pioneer Natural Resources (PXD) down 8.74 at 228.81 – change 3.68%
Tellurian Inc. (TELL) down 0.64 at 3.04 – change 17.40%
Valero (VLO) down 3.34 at 113.13 – change 2.87%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.36 at 90.31 – change 0.40%
CenterPoint (CNP) up 0.05 at 27.80 – change 0.18%
Entergy (ETR) down 0.08 at 104.63 – change 0.07%