China’s latest COVID policy raised concerns among crude oil analysts Thursday, causing a 2% slide in oil prices. At the same time, the hike in U.S. interest rates pushed up the dollar, adding to growing fears of a global recession which would result in less demand for fuel.
West Texas Intermediate crude for December delivery dropped $1.83 per barrel to finish at $88.17 on the New York Mercantile Exchange.
Global benchmark Brent crude for January delivery fell $1.49 a barrel to close at $94.67 on ICE Futures Europe.
December natural gas fell 29 cents to $5.98 per 1,000 cubic feet.
Thursday’s trading resulted in a mix for Oklahoma energy stocks. Chesapeake Energy dropped more than 4% while Devon Energy and Helmerich & Payne had gains of 5%.
Apache (APA) up 3.05 at 47.29 – change 6.89%
Cheniere (LNG) down 1.57 at 177.05 – change 0.88%
Chevron (CVX) up 2.63 at 181.13 – change 1.47%
ConocoPhillips (COP) up 7.31 at 133.82 – change 5.77%
Diamondback Energy (FANG) up 3.70 at 158.53 – change 2.38%
Energy Transfer LP (ET) up 0.09 at 12.19 – change 0.78%
Enterprise Products Partners (EPD) down 0.05 at 24.75 – change 0.21%
EOG Resources (EOG) up 2.79 at 138.38 – change 2.05%
ExxonMobil (XOM) up 1.49 at 111.10 – change 1.35%
Kinder Morgan (KMI) up 0.14 at 18.04 – change 0.78%
Marathon Oil Corp. (MRO) up 1.66 at 31.42 – change 5.77%
National Oilwell Varco (NOV) up 0.98 at 22.82 – change 4.48%
Occidental Petroleum (OXY) up 1.06 at 72.16 – change 1.49%
Phillips 66 (PSX) down 0.12 at 103.12 – change 0.12%
Pioneer Natural Resources (PXD) up 2.72 at 255.64 – change 1.07%
Tellurian Inc. (TELL) up 0.31 at 3.03 – change 11.39%
Valero (VLO) up 3.88 at 129.71 – change 3.08%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.47 at 88.68 – change 0.53%
CenterPoint (CNP) down 0.10 at 28.01 – change 0.36%
Entergy (ETR) up 0.59 at 109.35 – change 0.54%