Crude oil prices drop to 6-month low and OK Energy stocks were weak

  • August 16, 2022

Oil prices down by 13% over growing US crude inventories - National Daily Newspaper
Crude oil prices on Tuesday hit their lowest level since before Vladimir Putin decided to send his troops into Ukraine, starting a war that continues claiming lives every day. US prices dropped even lower after settling Monday below $90.
What prompted the nearly 3% drop in prices? Analysts blamed new economic data about a potential global recession and on apprehension about a deal that might allow more Iranian oil exports.
In the U.S., West Texas Intermediate crude for September delivery settled down $2.88 a barrel to $86.53 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for October delivery fell $2.76 and settled at $92.34 a barrel on ICE Futures Europe.

September natural gas rose 60 cents to $9.33 per 1,000 cubic feet.

It proved to be something of a weak day for Oklahoma energy stocks with one lone strong exception—Empire Petroleum. It rose nearly 7% on a strong second quarter earnings report showing a 300% increase in revenue.

A few others had 4% gains for the day including Chesapeake Energy, Mammoth Energy, NGL Energy Partners and PHX Minerals Inc.

Alliance Resource Partners, L.P.
23.10 USD+0.50 (2.21%)
Blueknight Energy Partners LP Common Stock
4.64 USD0.00 (0.00%)
Chesapeake Energy Ord Shs
97.00 USD+3.42 (3.65%)
Continental Resources, Inc.
67.60 USD−0.46 (0.68%)
Coterra Energy Inc
29.18 USD+0.83 (2.93%)
Devon Energy Corp
63.58 USD+0.010 (0.016%)
Empire Petroleum Corporation
15.00 USD+0.96 (6.84%)
Gulfport Energy Corp
91.03 USD+3.03 (3.44%)
Helmerich & Payne, Inc.
40.79 USD−0.90 (2.16%)
LSB Industries, Inc.
13.37 USD+0.050 (0.38%)
Laredo Petroleum Inc
65.71 USD−0.56 (0.85%)
Magellan Midstream Partners, L.P.
52.42 USD+0.100 (0.19%)
Mammoth Energy Services Inc
3.75 USD−0.15 (3.85%)
Matrix Service Co
5.44 USD−0.15 (2.68%)
NGL Energy Partners LP
1.64 USD−0.060 (3.53%)
OGE Energy Corp.
42.61 USD−0.050 (0.12%)
ONE Gas Inc
83.17 USD+0.030 (0.036%)
ONEOK, Inc.
63.30 USD−0.18 (0.28%)
Ovintiv Inc
48.31 USD−1.05 (2.13%)
PHX Minerals Inc
3.45 USD+0.14 (4.23%)
SandRidge Energy Inc.
19.01 USD+0.22 (1.17%)
Unit Corp
59.48 USD+0.98 (1.68%)
Williams Companies Inc
34.32 USD+0.69 (2.07%)
Why crude oil prices keep falling and falling, in one simple chart - Vox
 Other energy stocks made only moderate gains according to the Texas Energy Report. 

Apache (APA) down 0.35 at 33.22 – change 1.05%

Cheniere (LNG) up 3.71 at 161.28 – change 2.35%

Chevron (CVX) down 0.40 at 156.41 – change 0.26%

ConocoPhillips (COP) down 0.67 at 100.10 – change 0.67%

Diamondback Energy (FANG) down 2.34 at 125.59 – change 1.83%

Energy Transfer LP (ET) up 0.22 at 11.80 – change 1.89%

Enterprise Products Partners (EPD) up 0.17 at 27.30 – change 0.62%

EOG Resources (EOG) up 0.13 at 112.41 – change 0.11%

ExxonMobil (XOM) down 0.86 at 91.46 – change 0.94%

Kinder Morgan (KMI) up 0.08 at 18.64 – change 0.43%

Marathon Oil Corp. (MRO) down 0.26 at 23.05 – change 1.12%

National Oilwell Varco (NOV) down 0.41 at 17.51 – change 2.29%

Occidental Petroleum (OXY) down 0.83 at 63.51 – change 1.30%

Phillips 66 (PSX) up 0.20 at 89.36 – change 0.22%

Pioneer Natural Resources (PXD) down 0.82 at 229.12 – change 0.36%

Tellurian Inc. (TELL) up 0.07 at 4.12 – change 1.72%

Valero (VLO) up 1.36 at 113.31 – change 1.21%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.10 at 104.46 – change 0.10%

CenterPoint (CNP) up 0.14 at 32.83 – change 0.42%

Entergy (ETR) up 0.41 at 122.22 – change 0.33%

Jerry Bohnen