Oklahoma energy stocks soared as a 2% gain was recorded by crude oil prices on Friday and for the week, they increased more than 8%, after Russia said it planned to reduce oil production in the coming month because the West put price caps on Russian crude and fuel.
West Texas Intermediate crude rose 2.1% or $1.66 per barrel to settle at $79.72 on the New York Mercantile Exchange.
Global benchmark Brent crude went up 2.2% or $1.89 a barrel and finished at $86.39 on ICE Futures Europe.
March natural gas rose 8 cents to $2.51 per 1,000 cubic feet.
Friday proved to be one of the strongest days in weeks for Oklahoma energy stocks including a whopping 24% gain, you read right, for NGL Energy Partners. Vital Energy gained 7% and 6% gains were recorded by Helmerich & Payne, Ovintiv and PHX Minerals.
Other energy stocks made 5 and 6% gains for the day according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 2.50 at 43.56 – change 6.11%
Cheniere (LNG) up 4.49 at 151.97 – change 3.04%
Chevron (CVX) up 3.53 at 171.97 – change 2.09%
ConocoPhillips (COP) up 5.13 at 115.06 – change 4.66%
Diamondback Energy (FANG) up 7.82 at 149.29 – change 5.52%
Energy Transfer LP (ET) up 0.08 at 12.84 – change 0.62%
Enterprise Products Partners (EPD) up 0.56 at 26.37 – change 2.20%
EOG Resources (EOG) up 6.98 at 134.13 – change 5.48%
ExxonMobil (XOM) up 4.82 at 119.17 – change 4.21%
Kinder Morgan (KMI) up 0.37 at 18.36 – change 2.05%
Marathon Oil Corp. (MRO) up 1.62 at 27.75 – change 6.19%
NOV Inc. (NOV) up 1.01 at 24.04 – change 4.38%
Occidental Petroleum (OXY) up 2.43 at 65.63 – change 3.84%
Phillips 66 (PSX) up 5.27 at 107.38 – change 5.16%
Pioneer Natural Resources (PXD) up 10.07 at 231.39 – change 4.54%
Tellurian Inc. (TELL) up 0.02 at 1.81 – change 1.11%
Valero (VLO) up 8.11 at 140.72 – change 6.11%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 2.06 at 90.55 – change 2.33%
CenterPoint (CNP) up 0.66 at 29.31 – change 2.30%
Entergy (ETR) up 2.38 at 105.79 – change 2.30%