Crude oil prices fell more than 4% in Tuesday’s trading, reaching a three-month low because of a new U.S. inflation report and recent bank failures. Oklahoma energy stocks managed to make moderate gains a day after suffering losses.
West Texas Intermediate crude suffered a 4.6% drop on a $3.47 a barrel fall to $71.33 on the New York Mercantile Exchange.
Global benchmark Brent crude dropped 4.1% or $3.32 a barrel and settled at $77.45 on ICE Futures Europe.
Those were the lowest closes for both WTI and Brent since Dec. 9. It also was their biggest one-day percentage declines since early in January.
April natural gas fell 4 cents to $2.57 per 1,000 cubic feet.
Fortunes turned around for Oklahoma energy stocks as most recorded moderate gains in Tuesday’s trading. PHX Minerals had the biggest percentage jump with more than 3%.
APA Corp. (Apache) (APA) up 0.31 at 34.83 – change 0.89%
Cheniere (LNG) down 3.64 at 150.31 – change 2.37%
Chevron (CVX) up 2.04 at 160.76 – change 1.29%
ConocoPhillips (COP) up 0.68 at 101.36 – change 0.67%
Diamondback Energy (FANG) up 1.10 at 132.63 – change 0.83%
Energy Transfer LP (ET) up 0.08 at 12.34 – change 0.65%
Enterprise Products Partners (EPD) up 0.28 at 25.69 – change 1.14%
EOG Resources (EOG) up 0.10 at 109.20 – change 0.09%
ExxonMobil (XOM) up 0.40 at 106.94 – change 0.37%
Kinder Morgan (KMI) up 0.09 at 16.94 – change 0.53%
Marathon Oil Corp. (MRO) up 0.28 at 23.23 – change 1.22%
NOV Inc. (NOV) down 0.01 at 19.23 – change 0.06%
Occidental Petroleum (OXY) up 1.04 at 60.19 – change 1.75%
Phillips 66 (PSX) up 2.43 at 97.95 – change 2.54%
Pioneer Natural Resources (PXD) down 0.12 at 195.24 – change 0.07%
Tellurian Inc. (TELL) down 0.02 at 1.15 – change 1.70%
Valero (VLO) up 3.51 at 131.62 – change 2.73%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.87 at 90.25 – change 0.97%
CenterPoint (CNP) up 0.48 at 28.69 – change 1.70%
Entergy (ETR) up 1.84 at 103.69 – change 1.80%