Crude oil prices gained more than $2 in Tuesday’s trading and settled over $80 a barrel, thanks to a number of issues including moves by investors to buy up assets during slowing inflation. Plus, there are concerns about supply disruptions because of the shutdown of the Keystone pipeline in Kansas.
West Texas Intermediate crude for January delivery gained $2.22 a barrel or 3% to close at $75.39 on the New York Mercantile Exchange.
Global benchmark Brent crude for delivery in February rose 3.5% or $2.69 a barrel and closed at $80.68 on ICE Futures Europe. Contractors for WTI and Brent had their biggest daily gains since early November.
January natural gas rose 35 cents or more than 5% to $6.94 per 1,000 cubic feet.
Oklahoma energy stocks recorded another positive day in trading with Mammoth Energy gaining more than 6% and Empire Petroleum at 5%. Ovintiv had a strong 4% gain for the day.
Apache (APA) up 1.92 at 45.83 – change 4.37%
Cheniere (LNG) up 2.71 at 165.20 – change 1.66%
Chevron (CVX) up 3.78 at 173.53 – change 2.22%
ConocoPhillips (COP) up 1.63 at 113.41 – change 1.45%
Diamondback Energy (FANG) up 2.11 at 136.32 – change 1.57%
Energy Transfer LP (ET) up 0.21 at 11.91 – change 1.79%
Enterprise Products Partners (EPD) up 0.25 at 24.41 – change 1.03%
EOG Resources (EOG) up 3.40 at 127.46 – change 2.74%
ExxonMobil (XOM) up 1.15 at 107.25 – change 1.09%
Kinder Morgan (KMI) up 0.39 at 18.21 – change 2.18%
Marathon Oil Corp. (MRO) up 0.50 at 27.68 – change 1.83%
National Oilwell Varco (NOV) up 0.66 at 20.65 – change 3.30%
Occidental Petroleum (OXY) up 0.25 at 64.28 – change 0.39%
Phillips 66 (PSX) up 0.06 at 102.13 – change 0.05%
Pioneer Natural Resources (PXD) up 5.86 at 224.82 – change 2.67%
Tellurian Inc. (TELL) up 0.13 at 2.41 – change 5.70%
Valero (VLO) down 0.13 at 120.53 – change 0.11%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.07 at 98.62 – change 0.07%
CenterPoint (CNP) down 0.10 at 30.91 – change 0.33%
Entergy (ETR) down 0.05 at 118.35 – change 0.05%