After U.S. interest rates were not raised as much as they have in the past several months, crude oil prices ended up more than $2 a barrel in Wednesday’s trading.
Forecasts from OPEC and the International Energy Agency of a rebound in demand next year also aided the price gain. The Fed raised its benchmark overnight interest rate by 50 basis points on Wednesday, down from the 75-basis-point hikes implemented in the last four policy meetings.
West Texas Intermediate crude for January delivery rose $1.94 or nearly 2.5% to $77.28 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for delivery in February gained $2.02 or 2.4% to close at $82.70 on ICE Futures Europe.
January natural gas fell 51 cents or more than 7% to $6.43 per 1,000 cubic feet.
Oklahoma energy stocks had a mixed reaction to the increased crude oil prices. Most suffered losses for the day but PHX Minerals gained more than 5% and Mammoth Energy rose more than 3%. NGL Energy Partners had the biggest loss at more than 3%.
Apache (APA) down 0.79 at 45.04 – change 1.73%
Cheniere (LNG) down 2.00 at 163.19 – change 1.22%
Chevron (CVX) down 1.20 at 172.33 – change 0.70%
ConocoPhillips (COP) down 0.54 at 112.87 – change 0.48%
Diamondback Energy (FANG) up 0.52 at 136.84 – change 0.38%
Energy Transfer LP (ET) down 0.12 at 11.79 – change 1.01%
Enterprise Products Partners (EPD) down 0.08 at 24.34 – change 0.29%
EOG Resources (EOG) down 0.03 at 125.93 – change 0.03%
ExxonMobil (XOM) down 0.79 at 106.46 – change 0.74%
Kinder Morgan (KMI) down 0.10 at 18.11 – change 0.55%
Marathon Oil Corp. (MRO) down 0.21 at 27.47 – change 0.76%
National Oilwell Varco (NOV) down 0.40 at 20.25 – change 1.94%
Occidental Petroleum (OXY) down 0.60 at 63.68 – change 0.94%
Phillips 66 (PSX) down 0.85 at 101.28 – change 0.84%
Pioneer Natural Resources (PXD) up 0.30 at 225.12 – change 0.13%
Tellurian Inc. (TELL) down 0.10 at 2.31 – change 4.15%
Valero (VLO) down 0.80 at 119.73 – change 0.67%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.13 at 98.49 – change 0.14%
CenterPoint (CNP) up 0.04 at 30.95 – change 0.12%
Entergy (ETR) up 0.09 at 118.44 – change 0.07%