Growing inflation results in slipping crude oil prices and falling Oklahoma energy stocks

Oil prices down as traders await key US jobs report | The Guardian Nigeria  News - Nigeria and World News — World — The Guardian Nigeria News – Nigeria  and World News


Oil prices weren’t the only finances to take a tumble on Tuesday. Oklahoma energy stocks fell as well, just one day after recording some strong gains in trading.

The crude oil price drop came as news was released indicating inflation is alive and well in the U.S. Consumers prices rose in August and it means the U.S. Federal Reserve will consider another interest rate increase next week.

West Texas Intermediate crude for October delivery slipped 47 cents to close at $87.31 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude for November delivery dropped 83 cents to $93.17 a barrel on ICE Futures Europe.

While oil prices fell, October natural gas managed a 3 cent gain to $8.28 per 1,000 cubic feet.

The inflation news resulted in losses for most Oklahoma energy stocks including a more than 5% drop for SandRidge Energy. 

The lone standout was LSB Industries, the Oklahoma City chemical and fertilizer manufacturer which saw a more than 6% gain for the day.


Alliance Resource Partners, L.P.
25.00 USD−0.36 (1.42%)
Chesapeake Energy Ord Shs
101.43 USD−2.40 (2.31%)
Continental Resources, Inc.
69.73 USD−1.15 (1.62%)
Coterra Energy Inc
30.06 USD−0.63 (2.05%)
Devon Energy Corp
69.07 USD−2.12 (2.98%)
Empire Petroleum Corporation
14.03 USD−0.040 (0.28%)
Gulfport Energy Corp
96.59 USD−0.34 (0.35%)
Helmerich & Payne, Inc.
44.74 USD−2.09 (4.46%)
LSB Industries, Inc.
17.04 USD+1.01 (6.30%)
Laredo Petroleum Inc
71.71 USD−2.59 (3.49%)
Magellan Midstream Partners, L.P.
50.96 USD−0.63 (1.22%)
Mammoth Energy Services Inc
4.54 USD−0.100 (2.16%)
Matrix Service Co
5.40 USD−0.27 (4.76%)
NGL Energy Partners LP
1.53 USD−0.040 (2.55%)
OGE Energy Corp.
41.16 USD−0.91 (2.16%)
ONE Gas Inc
79.59 USD−2.33 (2.84%)
61.68 USD−2.19 (3.43%)
Ovintiv Inc
51.66 USD−1.98 (3.69%)
PHX Minerals Inc
3.43 USD−0.100 (2.83%)
SandRidge Energy Inc.
18.40 USD−1.06 (5.45%)
Unit Corp
59.00 USD−0.90 (1.50%)
Williams Companies Inc
32.79 USD−1.08 (3.19%)
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