Will crude’s gains continue into the coming week?

Joe Biden Stuns 'The View' With “Corona Cure Will Make Problem Worse” – Deadline

 

Already angry with the oil and gas industry, President Biden and his administration were no doubt upset over Friday’s 3% jump in crude oil prices—a move that will likely send gasoline prices climbing again.

Overall, prices made a 4% gain to a five-week high in Friday’s trading, bolstered by OPEC+’s decision to make its largest supply cut since 2020.

A strong greenback can pressure oil demand, making dollar-denominated crude more expensive for other currency holders.

West Texas Intermediate crude rose $4.19 or nearly 5% to settle at $92.64 on the New York Mercantile Exchange.

Global benchmark Brent crude for December delivery went up $3.50 or about 4% to settle at $97.92 a barrel in trading on ICE Futures Europe.

It was the highest close since Aug. 30 for Brent crude and the most for WTI since Aug. 29. Both also had their second straight weekly gain and the biggest weekly percentage gain since March. Brent was up 11% while WTI gained 17%.

But it didn’t do much to support trading of Oklahoma energy stocks. Friday was another day of mixed trading with at least one firm, Matrix Service Co. seeing a loss of nearly 11%. How poorly were the few gains recorded?  Unit Corporation had the largest at about 1.5%. Otherwise, there were more losses than gains by the Oklahoma energy companies.

Alliance Resource Partners, L.P.
24.31 USD−0.57 (2.29%)
Chesapeake Energy Ord Shs
100.46 USD−1.19 (1.17%)
Continental Resources, Inc.
69.70 USD−0.060 (0.086%)
Coterra Energy Inc
29.20 USD+0.34 (1.18%)
Devon Energy Corp
72.04 USD−0.21 (0.29%)
Empire Petroleum Corporation
14.17 USD+0.11 (0.78%)
Gulfport Energy Corp
95.22 USD−1.34 (1.39%)
Helmerich & Payne, Inc.
43.30 USD+0.18 (0.42%)
LSB Industries, Inc.
15.25 USD−0.43 (2.74%)
Laredo Petroleum Inc
77.08 USD−0.37 (0.48%)
Magellan Midstream Partners, L.P.
47.77 USD+0.13 (0.27%)
Mammoth Energy Services Inc
4.18 USD−0.080 (1.88%)
Matrix Service Co
3.88 USD−0.47 (10.80%)
NGL Energy Partners LP
1.31 USD0.00 (0.00%)
OGE Energy Corp.
34.44 USD−1.51 (4.20%)
ONE Gas Inc
70.29 USD−0.88 (1.24%)
ONEOK, Inc.
54.53 USD−1.10 (1.98%)
Ovintiv Inc
55.57 USD−0.29 (0.52%)
PHX Minerals Inc
3.66 USD−0.14 (3.68%)
SandRidge Energy Inc.
18.90 USD−0.40 (2.07%)
Unit Corp
55.55 USD+0.80 (1.46%)
Williams Companies Inc
29.79 USD−0.32 (1.08%)
5 things to know before the stock market opens Thursday, July 14
 The same kind of trading day was experienced by other energy stocks according to the Texas Energy Report.

Apache (APA) up 0.32 at 42.52 – change 0.75%

Cheniere (LNG) up 1.49 at 174.00 – change 0.86%

Chevron (CVX) down 1.39 at 160.03 – change 0.87%

ConocoPhillips (COP) up 0.86 at 118.51 – change 0.73%

Diamondback Energy (FANG) up 0.10 at 142.43 – change 0.07%

Energy Transfer LP (ET) down 0.01 at 11.54 – change 0.09%

Enterprise Products Partners (EPD) up 0.08 at 24.99 – change 0.32%

EOG Resources (EOG) down 0.08 at 127.45 – change 0.07%

ExxonMobil (XOM) down 1.03 at 101.03 – change 1.01%

Kinder Morgan (KMI) down 0.15 at 17.23 – change 0.87%

Marathon Oil Corp. (MRO) down 0.31 at 27.94 – change 1.10%

National Oilwell Varco (NOV) down 0.49 at 18.48 – change 2.59%

Occidental Petroleum (OXY) down 0.70 at 69.80 – change 1.00%

Phillips 66 (PSX) down 0.86 at 92.50 – change 0.93%

Pioneer Natural Resources (PXD) up 0.18 at 256.88 – change 0.07%

Tellurian Inc. (TELL) up 0.03 at 2.70 – change 1.10%

Valero (VLO) down 5.44 at 113.78 – change 4.57%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 1.52 at 82.99 – change 1.80%

CenterPoint (CNP) down 0.53 at 26.81 – change 1.94%

Entergy (ETR) down 1.48 at 101.23 – change 1.45%