Crude oil dropped more than 2% in Monday’s trading and Oklahoma energy stocks suffered—some with 5 to 6% losses.
The collapse of Silicon Valley Bank left equities markets stirred and fears grew again of a fresh financial crisis.
West Texas Intermediate crude fell $1.88 a barrel or 2.5% to close at $74.80 on the New York Mercantile Exchange. At one point in trading, WTI dropped to $72.30, lowest price since December.
Global benchmark Brent crude finished down $2.01 or 2.4% to $80.77 a barrel on ICE Futures Europe. It dropped at one point to $78.34, the lowest level sine early January.
April natural gas rose 18 cents to $2.61 per 1,000 cubic feet.
It was a tough Monday for Oklahoma energy stocks as most recorded losses including Mammoth Energy at 6%, Helmerich & Payne at more than 5%, and Vital Energy at nearly 5%.
APA Corp. (Apache) (APA) down 1.43 at 34.52 – change 3.98%
Cheniere (LNG) down 0.29 at 153.94 – change 0.19%
Chevron (CVX) down 0.96 at 158.71 – change 0.61%
ConocoPhillips (COP) down 3.54 at 100.68 – change 3.40%
Diamondback Energy (FANG) down 4.37 at 131.54 – change 3.22%
Energy Transfer LP (ET) down 0.34 at 12.26 – change 2.70%
Enterprise Products Partners (EPD) down 0.20 at 25.40 – change 0.79%
EOG Resources (EOG) down 3.08 at 109.10 – change 2.75%
ExxonMobil (XOM) down 1.24 at 106.54 – change 1.16%
Kinder Morgan (KMI) up 0.08 at 16.85 – change 0.47%
Marathon Oil Corp. (MRO) down 1.02 at 22.95 – change 4.26%
NOV Inc. (NOV) down 0.96 at 19.23 – change 4.76%
Occidental Petroleum (OXY) down 0.71 at 59.15 – change 1.19%
Phillips 66 (PSX) down 5.70 at 95.52 – change 5.64%
Pioneer Natural Resources (PXD) down 3.42 at 195.36 – change 1.73%
Tellurian Inc. (TELL) down 0.05 at 1.18 – change 4.07%
Valero (VLO) down 4.05 at 128.11 – change 3.07%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.85 at 89.38 – change 2.11%
CenterPoint (CNP) up 0.65 at 28.21 – change 2.35%
Entergy (ETR) up 1.23 at 101.85 – change 1.22%