Not only did crude oil prices turn lower on Monday but so did Oklahoma energy stocks as some fell 3% to 4% in the day’s trading.
The cause? The U.S. dollar grew stronger and there are lingering concerns that there will be a possible interest rate hike by the U.S. Federal Reserve in May.
West Texas Intermediate crude dropped 2.1% on a $1.69 a barrel tumble as it settled at $80.83 on the New York Mercantile Exchange.
Brent crude, which is considered the global benchmark, fell $1.55 or 1.8% before closing at $84.76 a barrel on ICE Futures Europe.
Most Oklahoma energy stocks recorded losses in Monday’s trading with Vital Petroleum dropping by 4% and Empire Petroleum falling more than 3%.
APA Corp. (Apache) (APA) down 1.29 at 39.49 – change 3.17%
Cheniere (LNG) down 2.64 at 150.16 – change 1.73%
Chevron (CVX) down 1.52 at 170.92 – change 0.89%
ConocoPhillips (COP) down 2.89 at 105.61 – change 2.67%
Diamondback Energy (FANG) down 2.14 at 144.60 – change 1.46%
Energy Transfer LP (ET) up 0.04 at 12.88 – change 0.31%
Enterprise Products Partners (EPD) down 0.05 at 26.93 – change 0.19%
EOG Resources (EOG) down 0.83 at 120.78 – change 0.69%
ExxonMobil (XOM) down 1.35 at 114.70 – change 1.17%
Kinder Morgan (KMI) down 0.03 at 17.78 – change 0.17%
Marathon Oil Corp. (MRO) down 0.93 at 24.80 – change 3.62%
NOV Inc. (NOV) down 0.15 at 18.68 – change 0.75%
Occidental Petroleum (OXY) down 1.54 at 62.94 – change 2.39%
Phillips 66 (PSX) down 2.34 at 103.92 – change 2.21%
Pioneer Natural Resources (PXD) down 1.78 at 228.22 – change 0.28%
Tellurian Inc. (TELL) up 0.01 at 1.57 – change 0.64%
Valero (VLO) down 3.56 at 128.30 – change 2.70%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.79 at 93.29 – change 0.85%
CenterPoint (CNP) up 0.24 at 30.64 – change 0.78%
Entergy (ETR) up 1.29 at 108.93 – change 1.19%