Crude oil prices took another dip in Wednesday’s trading as both WTI and Brent crude dropped about 2% to a 12-week low—another sign of investors growing more worried about energy demand and an expected global recession.
It was the second straight day of price declines as West Texas Intermediate crude for August delivery fell 97 cents or 1% to settle at $98.53 a barrel on the New York Mercantile Exchange. It was the lowest front-month finish since April.
Prices have tumbled more than 20% since March 8 when WTI prices settled at $123.70 a barrel.
Global benchmark Brent crude for September delivery plunged $2.08 to finish the day at $100.69 in ICE Futures Europe.
Brent crude for September delivery fell $2.08 to $100.69 a barrel.
August natural gas fell 1 cent to $5.51 per 1,000 cubic feet.
Oklahoma energy stocks were left mixed. Empire Petroleum had a nearly 7% gain while several others including Chesapeake Energy, Magellan Midstream and NGL Energy Partners had losses of about 3%.
Alliance Resource Partners, L.P.
Apache (APA) down 0.72 at 32.01 – change 2.20%
Cheniere (LNG) down 7.56 at 124.42 – change 5.73%
Chevron (CVX) down 1.88 at 140.78 – change 1.32%
ConocoPhillips (COP) down 1.30 at 83.34 – change 1.54%
Diamondback Energy (FANG) down 3.86 at 110.28 – change 3.39%
Energy Transfer LP (ET) down 0.34 at 9.53 – change 3.45%
Enterprise Products Partners (EPD) down 0.39 at 23.61 – change 1.63%
EOG Resources (EOG) down 3.91 at 100.91 – change 3.74%
ExxonMobil (XOM) down 1.53 at 83.28 – change 1.81%
Kinder Morgan (KMI) down 0.22 at 16.36 – change 1.33%
Marathon Oil Corp. (MRO) down 0.45 at 20.68 – change 2.13%
National Oilwell Varco (NOV) down 0.03 at 15.96 – change 0.19%
Occidental Petroleum (OXY) unchanged at 59.11 – change 0.00%
Phillips 66 (PSX) down 0.86 at 79.53 – change 1.07%
Pioneer Natural Resources (PXD) down 4.21 at 210.93 – change 1.96%
Tellurian Inc. (TELL) down 0.05 at 2.84 – change 1.74%
Valero (VLO) down 1.88 at 101.71 – change 1.82%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.22 at 94.80 – change 1.30%
CenterPoint (CNP) up 0.25 at 29.34 – change 0.85%
Entergy (ETR) up 1.61 at 111.37 – change 1.46%
