Oil prices made slight gains Tuesday but Oklahoma energy stocks suffered losses after the U.S. Energy Information Administration predicted record global petroleum consumption next year.
Global consumption of liquid fuels is forecast to reach 102.2 million barrels per day in 2024, driven primarily by growth in countries like India and China, reflecting trends in economic activity, the U.S. Energy Information Administration said in its Short-Term Energy Outlook.
West Texas Intermediate crude for February delivery rose 49 cents or 0.6% to $75.12 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for March delivery went up 45 cents or 0.6% to settle at $80.10 a barrel on ICE Futures Europe.
February natural gas fell 27 cents to $3.64 per 1,000 cubic feet.
Many Oklahoma stocks suffered losses in Tuesday’s trading while a few made gains including Empire Petroleum, Gulfport Energy and Helmerich & Payne at more than 3%.
Moderate gains were recorded by several other energy stocks according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 0.13 at 43.24 – change 0.30%
Cheniere (LNG) up 3.02 at 146.51 – change 2.10%
Chevron (CVX) up 0.86 at 176.04 – change 0.49%
ConocoPhillips (COP) up 0.72 at 118.08 – change 0.61%
Diamondback Energy (FANG) up 0.46 at 141.94 – change 0.32%
Energy Transfer LP (ET) up 0.08 at 12.39 – change 0.64%
Enterprise Products Partners (EPD) up 0.05 at 25.37 – change 0.19%
EOG Resources (EOG) down 0.15 at 127.61 – change 0.11%
ExxonMobil (XOM) up 1.62 at 110.09 – change 1.49%
Kinder Morgan (KMI) up 0.03 at 18.73 – change 0.16%
Marathon Oil Corp. (MRO) down 0.02 at 27.01 – change 0.08%
NOV Inc. (NOV) down 0.03 at 22.84 – change 0.14%
Occidental Petroleum (OXY) up 0.07 at 64.15 – change 0.10%
Phillips 66 (PSX) down 0.44 at 101.57 – change 0.44%
Pioneer Natural Resources (PXD) up 1.00 at 231.16 – change 0.43%
Tellurian Inc. (TELL) unchanged at 1.86 – change 0.00%
Valero (VLO) up 3.43 at 132.01 – change 2.16%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.67 at 97.28 – change 0.69%
CenterPoint (CNP) up 0.09 at 30.56 – change 0.29%
Entergy (ETR) down 0.73 at 107.73 – change 0.68%
