Crude oil prices and Oklahoma energy stocks took dives in Monday’s trading—crude oil by 4% and some energy stocks by 6%.
The drop in crude came after analysts pointed to increasing global supplies and concerns about demand growth. Their worries were expressed as the U.S. Federal Reserve meets later in the week.
West Texas Intermediate crude dropped $3.05 a barrel or 4.4% to close at $67.12 on the New York Mercantile Exchange.
Brent crude, the global benchmark, fell $2.95 or 3.9% a barrel and finished at $71.84 on ICE Futures Europe.
July natural gas rose 2 cents to $2.27 per 1,000 cubic feet.
Monday was not a strong day at all for Oklahoma energy stocks. NGL Energy led the way with a 6% loss while others, Empire Petroleum, SandRidge Energy and Vital Energy dropped 4%.

Other energy stocks also suffered in Monday’s trading according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 0.35 at 33.06 – change 1.05%
Cheniere (LNG) down 2.59 at 144.55 – change 1.77%
Chevron (CVX) down 1.53 at 157.33 – change 0.97%
ConocoPhillips (COP) down 1.07 at 102.82 – change 1.03%
Diamondback Energy (FANG) down 2.54 at 129.74 – change 1.93%
Energy Transfer LP (ET) down 0.13 at 12.61 – change 1.03%
Enterprise Products Partners (EPD) down 0.06 at 25.95 – change 0.24%
EOG Resources (EOG) down 2.33 at 113.92 – change 2.01%
ExxonMobil (XOM) down 0.97 at 106.42 – change 0.91%
Kinder Morgan (KMI) down 0.15 at 16.89 – change 0.83%
Marathon Oil Corp. (MRO) down 0.30 at 23.25 – change 1.28%
NOV Inc. (NOV) down 0.15 at 15.34 – change 0.91%
Occidental Petroleum (OXY) down 0.13 at 59.19 – change 0.22%
Phillips 66 (PSX) down 1.98 at 96.78 – change 2.01%
Pioneer Natural Resources (PXD) down 3.15 at 201.65 – change 1.54%
Tellurian Inc. (TELL) down 0.08 at 1.20 – change 5.52%
Valero (VLO) down 0.31 at 113.08 – change 0.28%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.01 at 83.69 – change 0.01%
CenterPoint (CNP) up 0.17 at 29.12 – change 0.58%
Entergy (ETR) down 0.15 at 101.29 – change 0.15%