Crude oil prices gained a dollar a barrel in Wednesday’s trading while Oklahoma energy stocks recorded some moderate gains, based largely on anticipated poor corn and soybean harvests.
Crude rose as US corn and soybean prices increased to multi-month highs because of dry conditions in the Midwest and anticipated lower crops, something that could lower biofuels blending and increase oil demand.
The US benchmark, West Texas Intermediate increased $1.34 or 1.9% per barrel and settled at $72.53 on the New York Mercantile Exchange.
Brent crude, the global benchmark, went up $1.22 or 1.6% per barrel and finished at $77.12 on ICE Futures Europe.
July natural gas rose 11 cents to $2.60 per 1,000 cubic feet.
Some Oklahoma energy firms recorded gains in Wednesday’s trading including Vital Energy with a 5% boost for the day. PHX Minerals suffered a loss by the same percentage.
Most other energy stocks recorded gains for the day, according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 0.71 at 34.21 – change 2.11%
Cheniere (LNG) up 1.21 at 150.13 – change 0.81%
Chevron (CVX) up 1.20 at 154.88 – change 0.78%
ConocoPhillips (COP) up 1.67 at 103.70 – change 1.63%
Diamondback Energy (FANG) up 0.70 at 127.67 – change 0.55%
Energy Transfer LP (ET) up 0.03 at 12.78 – change 0.23%
Enterprise Products Partners (EPD) up 0.10 at 26.21 – change 0.38%
EOG Resources (EOG) up 0.54 at 110.87 – change 0.48%
ExxonMobil (XOM) up 1.14 at 103.87 – change 1.11%
Kinder Morgan (KMI) down 0.02 at 16.64 – change 0.13%
Marathon Oil Corp. (MRO) up 0.22 at 23.04 – change 0.96%
NOV Inc. (NOV) up 0.23 at 15.65 – change 1.49%
Occidental Petroleum (OXY) up 0.24 at 57.47 – change 0.41%
Phillips 66 (PSX) down 0.20 at 93.28 – change 0.22%
Pioneer Natural Resources (PXD) up 1.43 at 203.27 – change 0.70%
Tellurian Inc. (TELL) down 0.08 at 1.33 – change 5.00%
Valero (VLO) up 0.66 at 111.62 – change 0.59%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.91 at 85.45 – change 1.07%
CenterPoint (CNP) up 0.35 at 29.43 – change 1.20%
Entergy (ETR) up 1.06 at 100.59 – change 1.06%