Oil prices managed a weak improvement on Friday, ahead of the OPEC+ meet where output cuts were to be discussed. Investors also remained nervous about the massive COVID-19 shutdowns in China along with the growing weakness of the global economy.
West Texas Intermediate crude for October delivery rose 26 cents to close at $86.87 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for November delivery went up 66 cents and closed at $93.02 on ICE Futures Europe.
October natural gas fell 48 cents to $8.79 per 1,000 cubic feet.
Improved trading on Oklahoma energy stocks was seen on Friday with Helmerich & Payne jumping nearly 9% while Devon Energy recorded a 3% gain.
Other energy stocks saw gains on Friday according to the Texas Energy Report.
Apache (APA) up 0.88 at 38.79 – change 2.32%
Cheniere (LNG) up 5.61 at 162.36 – change 3.56%
Chevron (CVX) up 2.31 at 157.85 – change 1.48%
ConocoPhillips (COP) up 2.73 at 110.26 – change 2.53%
Diamondback Energy (FANG) up 3.57 at 133.87 – change 2.73%
Energy Transfer LP (ET) up 0.02 at 11.75 – change 0.17%
Enterprise Products Partners (EPD) up 0.12 at 26.29 – change 0.45%
EOG Resources (EOG) up 2.81 at 121.52 – change 2.36%
ExxonMobil (XOM) up 1.72 at 95.59 – change 1.83%
Kinder Morgan (KMI) up 0.05 at 18.22 – change 0.27%
Marathon Oil Corp. (MRO) up 0.79 at 25.71 – change 3.17%
National Oilwell Varco (NOV) up 0.66 at 17.72 – change 3.86%
Occidental Petroleum (OXY) up 0.37 at 68.77 – change 0.54%
Phillips 66 (PSX) up 2.13 at 88.46 – change 2.46%
Pioneer Natural Resources (PXD) up 2.52 at 241.76 – change 1.05%
Tellurian Inc. (TELL) up 0.23 at 4.08 – change 5.97%
Valero (VLO) up 3.18 at 113.82 – change 2.87%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 1.29 at 101.09 – change 1.27%
CenterPoint (CNP) down 0.17 at 31.78 – change 0.54%
Entergy (ETR) down 0.80 at 116.22 – change 0.69%