A 1% slide for crude oil prices was recorded in Wednesday’s trading while Oklahoma energy stocks felt the pain of losses for the day, including one firm with a 9% fall.
Crude prices made early gains but they were lost later in the day over growing thoughts of a U.S. recession.
West Texas Intermediate crude fell 70 cents or 0.9% to close at $79.48 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude dropped 1.1% on a 94-cent fall to $84.98 a barrel on ICE Futures Europe.
The session high for both benchmarks was the highest since Dec. 5. For WTI, Wednesday was the first time in nine sessions that the contract settled down reported Reuters.
February natural gas fell 28 cents to $3.31 per 1,000 cubic feet.
It was a tough day for Oklahoma energy stocks as only two managed slight gains for the day. The others recorded losses including a 9% drop for Mammoth Energy Services and a 6% fall for PHX Minerals.
The same kind of “down” day was experienced by other energy stocks according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 1.08 at 44.06 – change 2.40%
Cheniere (LNG) up 1.31 at 151.19 – change 0.88%
Chevron (CVX) down 3.29 at 177.20 – change 1.83%
ConocoPhillips (COP) down 1.72 at 118.52 – change 1.44%
Diamondback Energy (FANG) down 1.63 at 144.10 – change 1.12%
Energy Transfer LP (ET) down 0.12 at 12.50 – change 0.92%
Enterprise Products Partners (EPD) down 0.41 at 25.15 – change 1.57%
EOG Resources (EOG) down 1.28 at 128.79 – change 0.98%
ExxonMobil (XOM) down 2.33 at 110.60 – change 2.07%
Kinder Morgan (KMI) down 0.47 at 18.36 – change 2.45%
Marathon Oil Corp. (MRO) up 0.08 at 26.88 – change 0.31%
NOV Inc. (NOV) down 0.78 at 22.79 – change 3.29%
Occidental Petroleum (OXY) down 0.29 at 64.44 – change 0.44%
Phillips 66 (PSX) up 0.21 at 102.73 – change 0.21%
Pioneer Natural Resources (PXD) down 4.09 at 233.82 – change 1.72%
Tellurian Inc. (TELL) down 0.17 at 1.90 – change 7.98%
Valero (VLO) down 2.06 at 135.56 – change 1.49%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 2.41 at 92.45 – change 2.55%
CenterPoint (CNP) down 0.69 at 30.39 – change 2.23%
Entergy (ETR) up 0.60 at 107.52 – change 0.57%