China’s latest COVID-19 lockdown measures made investors nervous on Thursday as they sent crude oil prices tumbling more than 3%. Not to mention, there are concerns about high inflation across the U.S. and the rest of the world and then there is the nagging issue of interest rate hikes and what they are doing to dent fuel demand.
It also turned out to be another day of losses for Oklahoma energy stocks as some firms recorded drops of 6% and 7%.
West Texas Intermediate crude for October delivery slumped $2.94 or3.28% a barrel to settle at $86.61 on the New York Mercantile Exchange. It was another slide even deeper than $90 a barrel for the benchmark U.S. price.
Global benchmark Brent crude for November delivery fell $3.28 or nearly 3.5% to $92.36 a barrel on ICE Futures Europe.
October natural gas rose 13 cents or nearly 1.5% to $9.26 per 1,000 cubic feet.
Most Oklahoma energy stocks recorded losses including a nearly 7% drop for Laredo Petroleum and about 6% for SandRidge Energy.
Apache (APA) down 1.19 at 37.92 – change 3.05%
Cheniere (LNG) down 3.43 at 156.75 – change 2.15%
Chevron (CVX) down 2.52 at 155.54 – change 1.60%
ConocoPhillips (COP) down 1.92 at 107.53 – change 1.76%
Diamondback Energy (FANG) down 2.98 at 130.30 – change 2.24%
Energy Transfer LP (ET) up 0.02 at 11.73 – change 0.17%
Enterprise Products Partners (EPD) down 0.15 at 26.17 – change 0.57%
EOG Resources (EOG) down 2.59 at 118.71 – change 2.14%
ExxonMobil (XOM) down 1.72 at 93.87 – change 1.80%
Kinder Morgan (KMI) down 0.15 at 18.17 – change 0.82%
Marathon Oil Corp. (MRO) down 0.67 at 24.92 – change 2.62%
National Oilwell Varco (NOV) down 0.61 at 17.05 – change 3.46%
Occidental Petroleum (OXY) down 2.60 at 68.40 – change 3.67%
Phillips 66 (PSX) down 3.13 at 86.33 – change 3.50%
Pioneer Natural Resources (PXD) down 5.42 at 247.80 – change 2.15%
Tellurian Inc. (TELL) down 0.15 at 3.85 – change 3.75%
Valero (VLO) down 6.48 at 110.64 – change 5.54%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 2.18 at 102.38 – change 2.17%
CenterPoint (CNP) up 0.42 at 31.95 – change 1.43%
Entergy (ETR) up 1.72 at 117.02 – change 1.49%
