Not only did crude oil prices fall more than 4% in Tuesday’s trading after the long Memorial Day Holiday weekend, but Oklahoma energy stocks fell as much.
Growing doubts whether Congress will pass the U.S. debt ceiling package were one of the causes while there were concerns over messages from major producers regarding the OPEC+ meeting this weekend.
West Texas Intermediate crude dropped 4.4% or $3.21 a barrel to $69.46 on the New York Mercantile Exchange..
Global benchmark Brent crude finished down 4.6% or $3.53 at 473.54 a barrel on ICE Futures Europe.
July natural gas fell 9 cents to $2.33 per 1,000 cubic feet.
Most Oklahoma energy stocks were down in Tuesday’s trading with some at 4%, including Empire Petroleum and SandRidge Energy. Some were at 3% down for the day including Alliance Resource Partners, Chesapeake Energy, Coterra Energy and Mammoth Energy.
APA Corp. (Apache) (APA) down 1.17 at 32.24 – change 3.51%
Cheniere (LNG) down 1.15 at 137.75 – change 0.83%
Chevron (CVX) down 0.96 at 153.12 – change 0.63%
ConocoPhillips (COP) down 0.65 at 101.20 – change 0.64%
Diamondback Energy (FANG) down 1.50 at 129.49 – chan1.ge 1.15%
Energy Transfer LP (ET) down 0.16 at 12.49 – change 27%
Enterprise Products Partners (EPD) down 0.16 at 25.32 – change 0.63%
EOG Resources (EOG) down 1.31 at 108.81 – change 1.19%
ExxonMobil (XOM) down 0.93 at 104.04 – change 0.89%
Kinder Morgan (KMI) down 0.06 at 16.14 – change 0.38%
Marathon Oil Corp. (MRO) down 0.42 at 22.84 – change 1.81%
NOV Inc. (NOV) down 0.44 at 14.61 – change 2.93%
Occidental Petroleum (OXY) down 0.35 at 58.59 – change 0.60%
Phillips 66 (PSX) down 1.32 at 93.59 – change 1.40%
Pioneer Natural Resources (PXD) down 1.63 at 206.30 – change 0.79%
Tellurian Inc. (TELL) down 0.06 at 1.21 – change 4.73%
Valero (VLO) down 2.16 at 111.66 – change 1.90%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.46 at 81.79 – change 0.56%
CenterPoint (CNP) down 0.16 at 28.18 – change 0.57%
Entergy (ETR) down 0.08 at 96.73 – change 0.08%