Nervous and anxious investors worried about the return of sanctioned Iranian oil exports in a new nuclear deal with a Biden administration were behind a nearly $2 a barrel decline Thursday in crude oil prices.
They also are waiting on Friday’s scheduled remarks in Jackson Hole, Wyoming where U.S. Federal Reserve Chairman Jerome Powell will speak at the Kansas City Fed’s Economic Policy Symposium. Will he give a hint of a move to raise interest rates again?
West Texas Intermediate crude for October delivery lost $2.37 a barrel or 2.5% before settling at $92.52 on the New York Mercantile Exchange.
Global benchmark Brent crude dropped $1.88 or 1.9% to settle at $99.34 a barrel on ICE Futures Europe.
September natural gas rose 5 cents to $9.38 per 1,000 cubic feet.
Oklahoma energy stocks recorded weak gains with a few exceptions—LSB Industries at nearly 9%, Mammoth Energy at 5% and PHX Energy Services at about 4%.
Apache (APA) up 0.09 at 40.40 – change 0.22%
Cheniere (LNG) down 1.72 at 169.96 – change 1.01%
Chevron (CVX) up 1.43 at 164.62 – change 0.87%
ConocoPhillips (COP) up 1.56 at 112.08 – change 1.41%
Diamondback Energy (FANG) down 0.37 at 136.28 – change 0.28%
Energy Transfer LP (ET) up 0.07 at 12.36 – change 0.56%
Enterprise Products Partners (EPD) up 0.16 at 27.23 – change 0.59%
EOG Resources (EOG) up 1.32 at 125.22 – change 1.06%
ExxonMobil (XOM) up 0.51 at 99.09 – change 0.51%
Kinder Morgan (KMI) up 0.06 at 19.26 – change 0.31%
Marathon Oil Corp. (MRO) up 0.08 at 26.37 – change 0.30%
National Oilwell Varco (NOV) up 0.16 at 18.97 – change 0.85%
Occidental Petroleum (OXY) down 0.43 at 74.48 – change 0.58%
Phillips 66 (PSX) up 1.44 at 93.81 – change 1.55%
Pioneer Natural Resources (PXD) up 3.07 at 259.89 – change 1.19%
Tellurian Inc. (TELL) down 0.23 at 4.41 – change 4.96%
Valero (VLO) up 1.24 at 123.36 – change 1.01%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.72 at 103.38 – change 0.70%
CenterPoint (CNP) up 0.10 at 32.36 – change 0.30%
Entergy (ETR) up 0.11 at 119.38 – change 0.09%