Growing concerns about a global economic slowdown led to a nearly 2% drop in crude oil prices Tuesday, both in the U.S. and overseas. As a result, Oklahoma energy stocks were mixed with some losing up to 8% while others gained 7%.
The expected build in U.S. oil inventories, something noted last week in OK Energy Today’s update on crude oil storage at the Cushing hub in Oklahoma, resulted in a drop of $1.49 or 1.8% to $80.13 per barrel of West Texas Intermediate crude on the New York Mercantile Exchange.
Global benchmark Brent crude, traded on ICE Futures Europe, fell $2.06 or 2.3% per barrel to $86.13.
Crude oil stocks in the U.S. were forecasted to increase nearly 1 million last week.
February natural gas fell 19 cents to $3.26 per 1,000 cubic feet.
It was another mixed day of trading for Oklahoma energy stocks. Gulfport Energy Corp. suffered a more than 8% loss for the day while Laredo Petroleum gained nearly 7%.
APA Corp. (Apache) (APA) down 1.30 at 44.06 – change 2.87%
Cheniere (LNG) down 3.89 at 151.02 – change 2.52%
Chevron (CVX) up 0.17 at 180.83 – change 0.09%
ConocoPhillips (COP) down 1.32 at 118.81 – change 1.10%
Diamondback Energy (FANG) down 2.11 at 147.24 – change 1.42%
Energy Transfer LP (ET) up 0.06 at 13.07 – change 0.46%
Enterprise Products Partners (EPD) up 0.23 at 26.33 – change 0.88%
EOG Resources (EOG) down 1.42 at 132.76 – change 1.06%
ExxonMobil (XOM) up 1.05 at 113.81 – change 0.93%
Kinder Morgan (KMI) down 0.19 at 18.57 – change 1.02%
Marathon Oil Corp. (MRO) down 0.25 at 27.85 – change 0.98%
NOV Inc. (NOV) up 0.59 at 23.40 – change 2.58%
Occidental Petroleum (OXY) down 2.07 at 64.43 – change 3.12%
Phillips 66 (PSX) up 0.07 at 107.01 – change 0.06%
Pioneer Natural Resources (PXD) down 3.71 at 237.74 – change 1.54%
Tellurian Inc. (TELL) up 0.03 at 1.94 – change 1.57%
Valero (VLO) up 1.95 at 145.03 – change 1.36%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.04 at 92.70 – change 0.04%
CenterPoint (CNP) up 0.19 at 30.19 – change 0.63%
Entergy (ETR) up 0.52 at 107.27 – change 0.48%