Crude oil dropped nearly 2% in Friday’s trading, making for a second weekly decline.
What caused the drop? Again, weakened demand in China because of growing COVID-19 cases. Adding to it was the growing possibility of hikes in U.S. interest rates.
West Texas Intermediate crude for delivery in December dropped $1.56 a barrel or nearly 2% to settle at $80.08 on the New York Mercantile Exchange.
Global benchmark Brent crude for January delivery fell $2.16 a barrel or more than 2% and finished the day at $87.62 on ICE Futures Europe.
Apache (APA) down 0.60 at 46.34 – change 1.28%
Cheniere (LNG) up 2.27 at 167.75 – change 1.37%
Chevron (CVX) down 1.11 at 182.99 – change 0.60%
ConocoPhillips (COP) down 2.60 at 128.59 – change 1.99%
Diamondback Energy (FANG) down 5.56 at 156.22 – change 3.44%
Energy Transfer LP (ET) up 0.22 at 12.17 – change 1.84%
Enterprise Products Partners (EPD) up 0.37 at 24.98 – change 1.50%
EOG Resources (EOG) down 3.47 at 14.02 – change 3.41%
ExxonMobil (XOM) down 0.98 at 112.08 – change 0.87%
Kinder Morgan (KMI) up 0.12 at 18.42 – change 0.65%
Marathon Oil Corp. (MRO) down 0.50 at 30.80 – change 1.60%
National Oilwell Varco (NOV) down 0.33 at 22.65 – change 1.44%
Occidental Petroleum (OXY) down 0.21 at 71.25 – change 0.30%
Phillips 66 (PSX) down 0.74 at 108.99 – change 0.68%
Pioneer Natural Resources (PXD) down 6.62 at 249.94 – change 2.59%
Tellurian Inc. (TELL) up 0.02 at 2.69 – change 0.74%
Valero (VLO) down 0.29 at 137.62 – change 0.22%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 2.21 at 91.28 – change 2.48%
CenterPoint (CNP) up 0.48 at 29.67 – change 1.64%
Entergy (ETR) up 3.08 at 111.92 – change 2.82%