All it took was a government report to show crude and gasoline stockpiles unexpectedly surged last week and crude oil prices fell to nearly six-month lows.
Prices dropped nearly 4% also as OPEC+ stated it would increase its oil output target by 100,000 barrels a day.
West Texas Intermediate crude for September delivery dropped $3.76 to settle at $90.66 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for October delivery slipped $3.76 to close at $96.78 a barrel on ICE Futures Europe.
September natural gas rose 56 cents to $8.27 per 1,000 cubic feet.
Oklahoma energy stocks didn’t have the brightest of performing days on Wednesday. For instance, Devon Energy fell more than 6% and Laredo Petroleum fell about 7%. But there were some big gainers including Empire Petroleum with a nearly 11% jump while NGL Energy rose about 5%.
Apache (APA) down 1.50 at 34.43 – change 4.18%
Cheniere (LNG) down 0.58 at 145.38 – change 0.40%
Chevron (CVX) down 3.78 at 155.36 – change 2.38%
ConocoPhillips (COP) down 3.39 at 91.32 – change 3.58%
Diamondback Energy (FANG) down 6.16 at 121.38 – change 4.83%
Energy Transfer LP (ET) down 0.02 at 11.25 – change 0.18%
Enterprise Products Partners (EPD) down 0.18 at 26.16 – change 0.69%
EOG Resources (EOG) down 3.58 at 103.61 – change 3.34%
ExxonMobil (XOM) down 3.05 at 91.02 – change 3.25%
Kinder Morgan (KMI) down 0.02 at 17.80 – change 0.12%
Marathon Oil Corp. (MRO) down 0.99 at 22.89 – change 4.15%
National Oilwell Varco (NOV) down 0.15 at 17.94 – change 0.78%
Occidental Petroleum (OXY) down 4.07 at 60.99 – change 6.26%
Phillips 66 (PSX) down 2.03 at 85.51 – change 2.32%
Pioneer Natural Resources (PXD) down 7.23 at 220.68 – change 3.18%
Tellurian Inc. (TELL) up 0.12 at 3.39 – change 3.66%
Valero (VLO) down 4.20 at 107.81 – change 3.75%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.12 at 99.59 – change 1.14%
CenterPoint (CNP) down 0.01 at 31.69 – change 0.04%
Entergy (ETR) up 2.27 at 117.38 – change 1.97%