After 4% losses on Wednesday, crude oil prices enjoyed a small rebound in Thursday’s trading following an announcement by a top Russian official who said global oil markets were balanced.
The comments by Russian Deputy Prime Minister Alexander Novak caused a 46 gain for West Texas Intermediate Crude which settled at $74.76 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude rose 68 cents to finish at $78.37 a barrel on ICE Futures Europe.
What made Novak’s comments to important is that Russia is part of t he OPEC+ group and he said it does not see the need for any more oil cuts.
Natural gas finished up $0.05 at $2.36 for a 2.17% gain.
The day brought gains for some Oklahoma energy stocks including strong 3% increases for Gulfport Energy and NGL Energy Partners. On the opposite side, Helmerich & Payne lost nearly 4%.
APA Corp. (Apache) (APA) up 0.28 at 35.65 – change 0.81%
Cheniere (LNG) up 1.21 at 151.61 – change 0.80%
Chevron (CVX) up 0.97 at 166.95 – change 0.58%
ConocoPhillips (COP) up 0.76 at 101.23 – change 0.75%
Diamondback Energy (FANG) up 1.12 at 138.06 – change 0.82%
Energy Transfer LP (ET) up 0.31 at 12.79 – change 2.48%
Enterprise Products Partners (EPD) up 0.16 at 26.30 – change 0.61%
EOG Resources (EOG) up 0.18 at 115.84 – change 0.15%
ExxonMobil (XOM) up 1.38 at 116.83 – change 1.19%
Kinder Morgan (KMI) up 0.11 at 17.32 – change 0.63%
Marathon Oil Corp. (MRO) up 0.19 at 23.48 – change 0.81%
NOV Inc. (NOV) down 1.46 at 16.55 – change 8.11%
Occidental Petroleum (OXY) up 0.32 at 60.58 – change 0.53%
Phillips 66 (PSX) down 1.53 at 97.74 – change 1.55%
Pioneer Natural Resources (PXD) down 9.67 at 212.81 – change 4.35%
Tellurian Inc. (TELL) up 0.07 at 1.37 – change 5.38%
Valero (VLO) down 2.00 at 114.64 – change 1.72%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.56 at 92.81 – change 0.60%
CenterPoint (CNP) up 0.47 at 30.82 – change 1.54%
Entergy (ETR) up 2.13 at 107.18 – change 2.02%