A steeper than expected drawdown in U.S. crude stocks led to a slight increase in crude oil prices on Wednesday. Some Oklahoma energy stocks responded with strong trading for the day.
Crude went up 1.5% after Wednesday’s six-month low. Analysts suggested the drawdown outweighed worries about increased Russian output and exports.
West Texas Intermediate crude for September delivery went back up $1.58 and finished the day at $88.11 on the New York Mercantile Exchange.
Global benchmark Brent crude for October delivery increased $1.31 and closed at $93.65 a barrel on ICE Futures Europe.
September natural gas fell 9 cents to $9.24 per 1,000 cubic feet.
Some of the Oklahoma energy stocks either experienced losses for the day or had weak gains. A few, notably Gulfport Energy with a 7% gain and Laredo Petroleum with a strong 5% increase, had a good trading day.
Apache (APA) up 0.41 at 33.63 – change 1.23%
Cheniere (LNG) up 0.20 at 161.47 – change 0.12%
Chevron (CVX) up 1.29 at 157.69 – change 0.82%
ConocoPhillips (COP) up 1.26 at 101.36 – change 1.25%
Diamondback Energy (FANG) up 0.18 at 125.77 – change 0.14%
Energy Transfer LP (ET) down 0.18 at 11.62 – change 1.53%
Enterprise Products Partners (EPD) down 0.34 at 26.96 – change 1.25%
EOG Resources (EOG) up 1.28 at 113.69 – change 1.13%
ExxonMobil (XOM) up 0.74 at 92.20 – change 0.80%
Kinder Morgan (KMI) down 0.08 at 18.57 – change 0.43%
Marathon Oil Corp. (MRO) up 0.36 at 23.41 – change 1.56%
National Oilwell Varco (NOV) up 0.04 at 17.55 – change 0.22%
Occidental Petroleum (OXY) down 0.54 at 62.97 – change 0.86%
Phillips 66 (PSX) up 1.48 at 89.87 – change 1.67%
Pioneer Natural Resources (PXD) up 3.38 at 232.50 – change 1.47%
Tellurian Inc. (TELL) up 0.02 at 4.13 – change 0.48%
Valero (VLO) up 4.44 at 117.75 – change 3.91%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.13 at 104.33 – change 0.13%
CenterPoint (CNP) down 0.15 at 32.51 – change 0.43%
Entergy (ETR) down 0.95 at 121.27 – change 0.78%
