Another tough day for crude oil prices as they dropped more than 5% or $4 a barrel in Wednesday’s trading largely because of the global economy and rising COVID-19 cases in China.
Oklahoma energy prices on the other hand, rebounded from Tuesday’s tough day. One local stock soared 22%.
West Texas Intermediate crude for February delivery fell $4.09 a barrel, or 5.3% to settle at $72.84 on the New York Mercantile Exchange
Global benchmark Brent crude suffered a drop of $4.26 or 5.2% to close at $77.84. Combined with the 4% drop on Tuesday, Brent has fallen 9.4% marking the greatest two-day loss at the start of a new year since 1991.
February natural gas rose 18 cents to $4.17 per 1,000 cubic feet.
Following a nearly disastrous day on Tuesday, Oklahoma energy stocks recorded gains in Wednesday’s trading. NGL Energy Partners recorded the biggest jump with a 22% increase.
APA Corp. (Apache) (APA) down 1.47 at 42.15 – change 3.38%
Cheniere (LNG) up 4.16 at 144.69 – change 2.96%
Chevron (CVX) down 1.85 at 172.14 – change 1.07%
ConocoPhillips (COP) up 0.22 at 113.34 – change 0.19%
Diamondback Energy (FANG) down 0.76 at 130.62 – change 0.58%
Energy Transfer LP (ET) up 0.04 at 11.66 – change 0.34%
Enterprise Products Partners (EPD) up 0.11 at 24.34 – change 0.45%
EOG Resources (EOG) down 0.09 at 124.36 – change 0.08%
ExxonMobil (XOM) up 0.31 at 106.82 – change 0.29%
Kinder Morgan (KMI) up 0.22 at 18.23 – change 1.22%
Marathon Oil Corp. (MRO) down 0.32 at 25.32 – change 1.25%
NOV Inc. (NOV) up 0.31 at 20.16 – change 1.56%
Occidental Petroleum (OXY) up 0.06 at 61.11 – change 0.09%
Phillips 66 (PSX) down 0.35 at 100.68 – change 0.35%
Pioneer Natural Resources (PXD) up 2.80 at 223.05 – change 1.27%
Tellurian Inc. (TELL) up 0.14 at 1.74 – change 9.75%
Valero (VLO) down 0.42 at 119.62 – change 0.35%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.65 at 95.52 – change 0.68%
CenterPoint (CNP) up 0.09 at 29.65 – change 0.30%
Entergy (ETR) up 0.08 at 109.21 – change 0.07%