Crude oil prices plunged nearly 5% to a five-week low in Tuesday’s trading and Oklahoma energy prices slide as well, some tumbling 6% and nearly 7%.
Concerns about the economy brought prices down in the U.S. as politicians debated how to avoid a debt default.
West Texas Intermediate fell $4 a barrel or 5.3% and ended the day at $71.66 on the New York Mercantile Exchange.
The global benchmark, Brent crude, dropped $3.99 or 5% and settled at $75.32 a barrel on ICE Futures Europe.
It was the lowest close for WTI and Brent since March 24 and also was their biggest one-day percentage drop since early January.
Natural gas closed up one cent for a 0.23% gain to $2.22.
Some Oklahoma energy stocks suffered badly including Vital Energy and Empire Petroleum Corp. with nearly 7% falls, Devon Energy and Helmerich and Payne down 5%, Ovintiv 6%, and Mammoth Energy 4%.
APA Corp. (Apache) (APA) down 2.54 at 34.36 – change 6.89%
Cheniere (LNG) down 3.71 at 149.29 – change 2.43%
Chevron (CVX) down 7.20 at 160.04 – change 4.31%
ConocoPhillips (COP) down 3.89 at 98.64 – change 3.80%
Diamondback Energy (FANG) down 6.88 at 135.05 – change 4.85%
Energy Transfer LP (ET) down 0.22 at 12.69 – change 1.71%
Enterprise Products Partners (EPD) down 0.19 at 26.11 – change 0.73%
EOG Resources (EOG) down 7.03 at 111.61 – change 5.93%
ExxonMobil (XOM) down 4.57 at 110.10 – change 3.99%
Kinder Morgan (KMI) down 0.42 at 16.68 – change 2.46%
Marathon Oil Corp. (MRO) down 1.30 at 22.74 – change 5.41%
NOV Inc. (NOV) down 1.15 at 15.57 – change 6.88%
Occidental Petroleum (OXY) down 1.13 at 60.04 – change 1.85%
Phillips 66 (PSX) down 3.67 at 94.73 – change 3/73%
Pioneer Natural Resources (PXD) down 7.48 at 209.51 – change 3.45%
Tellurian Inc. (TELL) down 0.13 at 1.24 – change 9.49%
Valero (VLO) down 4.63 at 110.78 – change 4.02%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 1.37 at 91.28 – change 1.48%
CenterPoint (CNP) down 0.63 at 30.05 – change 2.06%
Entergy (ETR) down 0.98 at 106.43 – change 0.92%