Crude oil made more gains in Monday’s trading and OK energy stocks were up the upside too

  • August 29, 2022

Will the Gap Between Oil & Gasoline Prices Narrow Down ?

 

Crude oil prices started the week with a 4% gain as there still loomed the prospects of OPEC+ output cuts. Investors were also concerned about the conflict in Libya.

Oklahoma energy stocks recorded mild gains for the day.

West Texas Intermediate crude for October delivery shot up $3.95 a barrel to settle at $97.01, its closest price to $100 a barrel in several weeks. It represented a gain of 4.26%.

Global benchmark Brent crude for October delivery increased even more—$4.10 a barrel to finish at $105.09 on ICE Futures Europe. The increased amounted to a 3.88% gain for the day.

September natural gas rose 5 cents to $9.35 per 1,000 cubic feet.

It wasn’t the strongest of trading days for Oklahoma energy stocks. Laredo Petroleum and Ovintiv gained more than 3% while 2% gains were recorded by Continental Resources, Coterra Energy and Devon Energy.

 

Alliance Resource Partners, L.P.
26.30 USD+0.81 (3.18%)
Chesapeake Energy Ord Shs
103.77 USD+0.11 (0.11%)
Continental Resources, Inc.
72.31 USD+1.53 (2.16%)
Coterra Energy Inc
31.51 USD+0.64 (2.07%)
Devon Energy Corp
74.14 USD+1.37 (1.88%)
Empire Petroleum Corporation
14.41 USD−0.27 (1.84%)
Gulfport Energy Corp
101.03 USD+1.01 (1.01%)
Helmerich & Payne, Inc.
45.42 USD+0.13 (0.29%)
LSB Industries, Inc.
15.78 USD−0.61 (3.72%)
Laredo Petroleum Inc
81.60 USD+2.53 (3.20%)
Magellan Midstream Partners, L.P.
52.74 USD+0.16 (0.30%)
Mammoth Energy Services Inc
4.75 USD−0.060 (1.25%)
Matrix Service Co
5.91 USD−0.010 (0.17%)
NGL Energy Partners LP
1.62 USD+0.0100 (0.62%)
OGE Energy Corp.
41.57 USD+0.070 (0.17%)
ONE Gas Inc
80.84 USD+0.070 (0.087%)
Ovintiv Inc
55.07 USD+1.68 (3.15%)
PHX Minerals Inc
3.59 USD+0.030 (0.84%)
SandRidge Energy Inc.
21.91 USD+0.060 (0.27%)
Unit Corp
61.50 USD0.00 (0.00%)
Williams Companies Inc
35.24 USD+0.21 (0.60%)
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 Most other energy stocks had the same kind of trading day with two exceptions according to the Texas Energy Report. Diamondback Energy recorded a 4% gain while Tellurian stock plunged more than 14% after announcing a planned public offering of senior secured notes and warrants with proceeds going to support construction of  its key Driftwood liquified natural gas export project.

Apache (APA) up 1.18 at 41.36 – change 2.93%

Cheniere (LNG) down 2.48 at 165.28 – change 1.48%

Chevron (CVX) up 1.22 at 164.63 – change 0.74%

ConocoPhillips (COP) up 1.30 at 113.42 – change 1.15%

Diamondback Energy (FANG) up 5.33 at 139.26 – change 3.97%

Energy Transfer LP (ET) up 0.16 at 12.30 – change 1.31%

Enterprise Products Partners (EPD) up 0.03 at 26.91 – change 0.11%

EOG Resources (EOG) up 2.00 at 126.57 – change 1.60%

ExxonMobil (XOM) up 2.25 at 100.12 – change 2.29%

Kinder Morgan (KMI) down 0.05 at 18.94 – change 0.27%

Marathon Oil Corp. (MRO) up 0.63 at 26.79 – change 2.40%

National Oilwell Varco (NOV) up 0.17 at 18.92 – change 1.64%

Occidental Petroleum (OXY) up 1.71 at 75.26 – change 2.32%

Phillips 66 (PSX) up 1.02 at 93.20 – change 1.10%

Pioneer Natural Resources (PXD) up 5.12 at 262.50 – change 1.98%

Tellurian Inc. (TELL) down 0.65 at 3.85 – change 14.45%

Valero (VLO) up 1.54 at 123.42 – change 1.26%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 1.11 at 102.93 – change 1.09%

CenterPoint (CNP) up 0.34 at 32.09 – change 1.07%

Entergy (ETR) up 0.46 at 119.43 – change 0.38%

Jerry Bohnen