Crude oil rose 3% on Wednesday and so did several OK energy stocks

  • November 30, 2022

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Two factors played roles in Wednesday’s 3% gain for crude oil prices. One was the latest U.S. government information showing crude stockpiles had plummeted while export demand was at record levels. Secondly, traders apparently hedged their investments that there will be further easing of the COVID restrictions in China.

U.S. inventories fell by 12.6 million barrels last week, more than expected and represented the biggest decline since June 2019.

The U.S. benchmark, West Texas Intermediate for January delivery rose $2.35 a barrel to close at $80.55 on the New York Mercantile Exchange.

Global benchmark Brent crude for January delivery went up $2.40 to settle at $85.43 a barrel in trading on ICE Futures Europe.

January natural gas fell 31 cents to $6.93 per 1,000 cubic feet.

Gains were the order of the day for most Oklahoma energy stocks. Chesapeake Energy rose 4% for the day while a handful of others, Laredo Petroleum, NGL Energy Partners, ONEOK, Ovintiv, and Unit Corporation recorded 3% gains.

 

Alliance Resource Partners, L.P.
23.71 USD+0.51 (2.20%)
Chesapeake Energy Ord Shs
103.50 USD+4.20 (4.23%)
Coterra Energy Inc
27.91 USD−0.16 (0.55%)
Devon Energy Corp
68.52 USD+1.02 (1.51%)
Empire Petroleum Corp
13.72 USD+0.28 (2.08%)
Gulfport Energy Corp
81.09 USD+1.54 (1.94%)
Helmerich & Payne, Inc.
51.08 USD+0.71 (1.41%)
LSB Industries Inc
15.43 USD+0.59 (3.98%)
Laredo Petroleum Inc
63.83 USD+1.58 (2.54%)
Magellan Midstream Partners LP
52.70 USD−0.020 (0.038%)
Mammoth Energy Services Inc
6.04 USD+0.050 (0.83%)
Matrix Service Co
5.12 USD+0.100 (1.99%)
NGL Energy Partners LP
1.17 USD−0.040 (3.31%)
OGE Energy Corp.
40.46 USD+0.76 (1.91%)
ONE Gas Inc
86.95 USD+1.80 (2.11%)
ONEOK, Inc.
66.92 USD+2.01 (3.10%)
Ovintiv Inc
55.76 USD+1.54 (2.84%)
PHX Minerals Inc
3.61 USD−0.0100 (0.28%)
SandRidge Energy Inc
20.40 USD+0.21 (1.04%)
Unit Corp
58.41 USD+1.91 (3.38%)
Williams Companies Inc
34.70 USD+0.38 (1.11%)
5 things to know before the stock market opens Wednesday
 Most other energy stocks recorded gains on Wednesday according to the Texas Energy Report.

Apache (APA) up 0.26 at 46.85 – change 0.55%

Cheniere (LNG) up 2.71 at 175.36 – change 1.56%

Chevron (CVX) up 2.27 at 183.31 – change 1.25%

ConocoPhillips (COP) down 0.74 at 123.51 – change 0.60%

Diamondback Energy (FANG) up 1.28 at 148.02 – change 0.87%

Energy Transfer LP (ET) up 0.13 at 12.54 – change 1.04%

Enterprise Products Partners (EPD) up 0.08 at 24.81 – change 0.32%

EOG Resources (EOG) up 0.64 at 141.93 – change 0.45%

ExxonMobil (XOM) up 0.80 at 111.34 – change 0.72%

Kinder Morgan (KMI) up 0.24 at 19.12 – change 1.27%

Marathon Oil Corp. (MRO) up 0.28 at 30.63 – change 0.92%

National Oilwell Varco (NOV) up 0.32 at 22.46 – change 1.44%

Occidental Petroleum (OXY) up 0.38 at 69.48 – change 0.54%

Phillips 66 (PSX) down 0.53 at 108.44 – change 0.49%

Pioneer Natural Resources (PXD) down 4.79 at 235.99 – change 1.99%

Tellurian Inc. (TELL) up 0.09 at 2.69 – change 3.46%

Valero (VLO) down 1.58 at 133.62 – change 1.17%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 2.15 at 96.80 – change 2.27%

CenterPoint (CNP) up 0.53 at 31.11 – change 1.73%

Entergy (ETR) up 3.46 at 116.27 – change 3.06%

Jerry Bohnen