Thursday’s trading resulted in a turn-around for crude oil prices as they settled up 2% on growing worries of steep cuts to Russian oil production in March. As a result, Oklahoma energy stocks also recorded significant gains for the day.
West Texas Intermediate crude rose $1.44 per barrel or 2% to settle at $75.39 on the New York Mercantile Exchange. The gain ended a sixth session losing streak.
Global benchmark Brent crude also recorded a 2% gain on a $1.61 a barrel increase to close at $82.21 on ICE Futures Europe. A year ago on the eve of Russia’s invasion of Ukraine, Brent crude hit $98 a barrel.
March natural gas rose 14 cents to $2.31 per 1,000 cubic feet.
For many Oklahoma energy stocks, Thursday’s trading prompted gains including a 7% increase for Vital Energy, 6% for Coterra Energy and 5% for LSB Industries.
APA Corp. (Apache) (APA) up 1.26 at 39.11 – change 3.32%
Cheniere (LNG) up 13.96 at 161.82 – change 9.44%
Chevron (CVX) up 1.58 at 161.93 – change 0.98%
ConocoPhillips (COP) up 1.35 at 105.43 – change 1.29%
Diamondback Energy (FANG) up 4.30 at 141.60 – change 3.13%
Energy Transfer LP (ET) up 0.01 at 13.01 – change 0.07%
Enterprise Products Partners (EPD) up 0.10 at 25.95 – change 0.38%
EOG Resources (EOG) up 1.96 at 119.53 – change 1.66%
ExxonMobil (XOM) up 1.01 at 110.74 – change 0.92%
Kinder Morgan (KMI) up 0.16 at 17.48 – change 0.92%
Marathon Oil Corp. (MRO) up 0.37 at 25.48 – change 1.47%
NOV Inc. (NOV) up 0.46 at 21.76 – change 2.15%
Occidental Petroleum (OXY) up 0.80 at 59.22 – change 1.36%
Phillips 66 (PSX) up 0.88 at 100.35 – change 0.88%
Pioneer Natural Resources (PXD) down 0.21 at 205.06 – change 0.11%
Tellurian Inc. (TELL) up 0.14 at 1.63 – change 9.35%
Valero (VLO) up 1.74 at 132.43 – change 1.33%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.11 at 90.71 – change 0.13%
CenterPoint (CNP) down 0.06 at 28.79 – change 0.21%
Entergy (ETR) down 0.29 at 107.22 – change 0.27%