Crude oil prices dropped 2% in Monday’s trading and analysts blamed the losses on likely hikes in interest rates by major central banks. Oklahoma energy stocks tumbled as well.
The Fed meets Wednesday and investors believe rates will go up by 25 basis points.
West Texas Intermediate crude dropped $1.78 a barrel or 2.23% to settle at $77.90 on the New York Mercantile Exchange.
Global benchmark Brent fell $1.76 or 2.03% to settle at $84.90 a barrel on ICE Futures Europe.
March natural gas fell 17 cents to $2.68 per 1,000 cubic feet.
Oklahoma energy stocks suffered losses with a lone exception of Alliance Resource Partners which had a nearly 9% gain for the day. Otherwise, most stocks suffered losses including Vital Energy at 6% and Ovintiv, PHX Minerals and Sandridge with 5% tumbles.

APA Corp. (Apache) (APA) down 1.57 at 44.16 – change 3.44%
Cheniere (LNG) down 1.55 at 148.71 – change 1.04%
Chevron (CVX) down 5.25 at 174.20 – change 2.93%
ConocoPhillips (COP) down 3.08 at 120.53 – change 2.50%
Diamondback Energy (FANG) down 5.62 at 145.34 – change 3.73%
Energy Transfer LP (ET) down 0.26 at 13.10 – change 1.95%
Enterprise Products Partners (EPD) down 0.45 at 25.59 – change 1.73%
EOG Resources (EOG) down 2.56 at 132.10 – change 1.91%
ExxonMobil (XOM) down 2.05 at 113.56 – change 1.78%
Kinder Morgan (KMI) down 0.35 at 18.04 – change 1.87%
Marathon Oil Corp. (MRO) down 1.22 at 27.09 – change 4.31%
NOV Inc. (NOV) down 0.21 at 23.74 – change 0.88%
Occidental Petroleum (OXY) down 2.41 at 64.13 – change 3.63%
Phillips 66 (PSX) down 2.31 at 106.42 – change 2.13%
Pioneer Natural Resources (PXD) down 4.56 at 229.83 – change 1.95%
Tellurian Inc. (TELL) up 0.07 at 2.00 – change 3.60%
Valero (VLO) down 3.02 at 140.19 – change 2.11%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.20 at 92.87 – change 0.22%
CenterPoint (CNP) up 0.10 at 29.84 – change 0.33%
Entergy (ETR) down 1.02 at 107.69 – change 0.94%
Exelon Corp. (EXC) up 0.06 at 41.75 – change 0.14%