The two-day rally sparked by OPEC+’s first target cut of production since 2020 ended Tuesday as crude prices showed signs of weakness in the U.S. and definite slumping overseas.
Oklahoma energy stocks ended the day with more losses than gains.
The fall was also hastened by the prospect of more interest rate hikes by the Biden administration and the COVID-19 lockdowns in China.
West Texas Intermediate crude for October delivery managed a one cent climb to $86.88 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for November delivery dropped $2.91 a barrel or nearly 3% to finish at $92.83 a barrel on ICE Futures Europe.
October natural gas fell 64 cents to $8.15 per 1,000 cubic feet.
Most Oklahoma energy stocks recorded losses on Tuesday including a 4% drop for Gulfport Energy while a few others made gains. Mammoth Energy was up more than 5% while PHX Minerals gained 4% for the day.
Apache (APA) down 0.98 at 37.82 – change 2.53%
Cheniere (LNG) down 3.78 at 158.58 – change 2.33%
Chevron (CVX) down 0.73 at 157.12 – change 0.47%
ConocoPhillips (COP) down 1.63 at 108.63 – change 1.48%
Diamondback Energy (FANG) up 0.14 at 134.01 – change 0.10%
Energy Transfer LP (ET) down 0.21 at 11.54 – change 1.79%
Enterprise Products Partners (EPD) down 0.04 at 26.25 – change 0.16%
EOG Resources (EOG) down 1.21 at 120.31 – change 1.00%
ExxonMobil (XOM) down 0.64 at 94.95 – change 0.67%
Kinder Morgan (KMI) down 0.45 at 17.77 – change 2.47%
Marathon Oil Corp. (MRO) down 0.19 at 25.52 – change 0.74%
National Oilwell Varco (NOV) down 0.43 at 17.29 – change 2.43%
Occidental Petroleum (OXY) down 1.89 at 66.88 – change 2.75%
Phillips 66 (PSX) down 1.70 at 86.76 – change 1.93%
Pioneer Natural Resources (PXD) down 2.77 at 238.99 – change 1.15%
Tellurian Inc. (TELL) up 0.37 at 4.45 – change 9.06%
Valero (VLO) down 1.04 at 112.78 – change 0.92%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.47 at 101.56 – change 0.46%
CenterPoint (CNP) down 0.08 at 31.70 – change 0.26%
Entergy (ETR) down 0.59 at 115.63 – change 0.51%
