As crude oil prices dropped Monday by more than 1.5%, Oklahoma energy stocks were mixed in trading. But some firms saw up to a 7% gain for the day.
What brought about the drop in crude? Weaker than expected Chinese economic growth. It produced doubts over the strength of demand by the world’s second biggest oil consumer.
West Texas Intermediate, the U.S. benchmark, closed down $1.27 or 1.7% to $74.15 on the New York Mercantile Exchange.
Global benchmark Brent crude finished down $1.37 or 1.7% to close at $78.50 a barrel on ICE Futures Europe.
It was the second straight day of losses for both contracts.
August natural gas fell 3 cents to $2.51 per 1,000 cubic feet.
Mixed trading was the order of the day for Oklahoma energy stocks. Matrix Service gained more than 7% while Ovintiv Inc. saw a 3% increase. But OGE recorded a 2% loss.
APA Corp. (Apache) (APA) down 0.31 at 36.33 – change 0.85%
Cheniere (LNG) up 1.09 at 154.99 – change 0.70%
Chevron (CVX) down 0.15 at 153.44 – change 0.10%
ConocoPhillips (COP) down 0.65 at 106.44 – change 0.61%
Diamondback Energy (FANG) down 0.19 at 135.47 – change 0.15%
Energy Transfer LP (ET) up 0.07 at 12.97 – change 0.54%
Enterprise Products Partners (EPD) up 0.14 at 26.68 – change 0.52%
EOG Resources (EOG) down 0.25 at 118.68 – change 0.22%
ExxonMobil (XOM) up 0.44 at 101.38 – change 0.43%
Kinder Morgan (KMI) down 0.08 at 17.13 – change 0.47%
Marathon Oil Corp. (MRO) down 0.12 at 23.96 – change 0.50%
NOV Inc. (NOV) up 0.27 at 18.16 – change 1.50%
Occidental Petroleum (OXY) down 0.09 at 59.29 – change 0.16%
Phillips 66 (PSX) down 1.42 at 99.04 – change 1.42%
Pioneer Natural Resources (PXD) down 1.92 at 207.00 – change 0.92%
Tellurian Inc. (TELL) up 0.12 at 1.51 – change 8.63%
Valero (VLO) up 0.23 at 113.71 – change 0.20%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 1.74 at 85.48 – change 2.00%
CenterPoint (CNP) down 0.44 at 29.68 – change 1.47%
Entergy (ETR) down 1.14 at 98.74 – change 1.15%