Friday saw a gain in crude oil prices as they settled up for the day but were down for the week as a whole. Oklahoma energy stocks also had their second straight strong performance.
What led to the gain? Mostly China’s easing of restrictions to battle continued COVID-19 cases. The action by the Communist country that’s a major importer of U.S. oil raised hopes for improved economic activity.
West Texas Intermediate crude for December delivery finished up nearly 3% or $2.49 a barrel and closed at $88.96 on the New York Mercantile Exchange. For the week, WTI was down nearly 4%.
Global benchmark Brent crude for January delivery finished up $2.32 or more than 2% to close at $95.99 a barrel on ICE Futures Europe.
December natural gas fell 6% on a 36 cent drop to $5.88 per 1,000 cubic feet.
Friday proved to be another strong day for Oklahoma energy stocks including Mammoth Energy with a 9% gain and Ovintiv with a 7% boost.
Apache (APA) up 1.76 at 48.76 – change 3.74%
Cheniere (LNG) down 5.56 at 161.76 – change 3.33%
Chevron (CVX) up 5.16 at 186.46 – change 2.84%
ConocoPhillips (COP) up 4.50 at 133.96 – change 3.47%
Diamondback Energy (FANG) up 4.07 at 164.35 – change 2.53%
Energy Transfer LP (ET) down 0.12 at 12.20 – change 0.98%
Enterprise Products Partners (EPD) up 0.03 at 25.00 – change 0.12%
EOG Resources (EOG) up 4.80 at 147.11 – change 3.37%
ExxonMobil (XOM) up 3.45 at 113.95 – change 3.12%
Kinder Morgan (KMI) up 0.49 at 18.69 – change 2.69%
Marathon Oil Corp. (MRO) up 1.28 at 32.88 – change 4.05%
National Oilwell Varco (NOV) up 0.68 at 23.57 – change 2.97%
Occidental Petroleum (OXY) up 3.85 at 74.33 – change 5.46%
Phillips 66 (PSX) up 5.05 at 111.30 – change 1.76%
Pioneer Natural Resources (PXD) up 10.18 at 255.63 – change 4.14%
Tellurian Inc. (TELL) up 0.15 at 2.96 – change 5.33%
Valero (VLO) up 1.51 at 133.96 – change 1.14%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 1.82 at 89.98 – change 1.99%
CenterPoint (CNP) down 0.27 at 29.13 – change 0.92%
Entergy (ETR) down 0.41 at 110.63 – change 0.37%