After a Thursday rebound, crude oil prices plunged nearly 2% on Friday, leaving investors hopeful of a rebound on Monday’s round of trading. Oklahoma energy stocks made only moderate gains for the most part.
Analysts blamed the Friday drop on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term. At the same time, investors still worried about the recession that might have weakened the demand outlook.
West Texas Intermediate crude for September delivery dropped $2.25 or nearly 3% to settle at $92.09 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for October delivery fell $1.45 or about 2% to close at $98.15 a barrel on ICE Futures Europe.
September natural gas fell 10 cents or 1.15% to $8.77 per 1,000 cubic feet.
Friday wasn’t the best of trading days for Oklahoma energy stocks although a few made some gains including Empire Petroleum at a 5% improvement. Others either had minor losses or gains of 1% to 2%.
Apache (APA) down 0.15 at 34.70 – change 0.41%
Cheniere (LNG) up 3.92 at 158.69 – change 2.53%
Chevron (CVX) up 0.23 at 159.85 – change 0.14%
ConocoPhillips (COP) up 2.39 at 102.75 – change 2.38%
Diamondback Energy (FANG) up 0.35 at 133.13 – change 0.26%
Energy Transfer LP (ET) up 0.18 at 11.67 – change 1.56%
Enterprise Products Partners (EPD) up 0.31 at 27.15 – change 1.15%
EOG Resources (EOG) up 0.95 at 114.49 – change 0.83%
ExxonMobil (XOM) up 0.81 at 94.00 – change 0.86%
Kinder Morgan (KMI) up 0.10 at 18.69 – change 0.53%
Marathon Oil Corp. (MRO) up 0.15 at 24.06 – change 0.62%
National Oilwell Varco (NOV) up 0.19 at 18.62 – change 1.03%
Occidental Petroleum (OXY) up 0.04 at 65.73 – change 0.06%
Phillips 66 (PSX) up 1.67 at 90.00 – change 1.89%
Pioneer Natural Resources (PXD) up 4.47 at 232.95 – change 1.95%
Tellurian Inc. (TELL) up 0.10 at 4.13 – change 2.48%
Valero (VLO) up 1.10 at 115.19 – change 0.96%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 2.58 at 103.78 – change 2.54%
CenterPoint (CNP) up 0.59 at 32.50 – change 1.84%
Entergy (ETR) up 2.23 at 121.01 – change 1.87%
