Crude oil prices hit a three-month high in Monday’s trading, marking their steepest monthly gains since January 2022, largely because of a growing tightening global supply of oil.
Oklahoma energy prices also recorded gains with one firm hitting a 6% increase for the day.
West Texas Intermediate crude rallied for a $1.22 or 1.5% gain per barrel to settle at $81.80 on the New York Mercantile Exchange.
October Brent crude futures rose $1.02 or 1.2% and finished the day at $85.43 a barrel on ICE Futures Europe. Reuters reported the September Brent contract, which expired on Monday, increased 0.7% to close at $85.56 a barrel.
Both Brent and WTI hit their highest since late April for a third consecutive session on Monday, after notching their fifth straight weekly gains on Friday.
September natural gas fell 1 cent to $2.63 per 1,000 cubic feet.
Most Oklahoma energy stocks recorded gains in Monday’s trading including a 6% increase for NGL Energy Partners.
Canoo, the EV maker, recorded a 19% gain for the day, reaching 65 cents a share.
APA Corp. (Apache) (APA) up 0.34 at 40.49 – change 0.84%
Cheniere (LNG) up 2.35 at 161.86 – change 1.47%
Chevron (CVX) up 4.79 at 163.66 – change 3.01%
ConocoPhillips (COP) up 1.79 at 117.72 – change 1.54%
Diamondback Energy (FANG) up 1.68 at 147.32 – change 1.15%
Energy Transfer LP (ET) up 0.04 at 13.29 – change 0.30%
Enterprise Products Partners (EPD) up 0.06 at 26.51 – change 0.22%
EOG Resources (EOG) up 1.83 at 132.53 – change 1.40%
ExxonMobil (XOM) up 3.08 at 107.24 – change 2.95%
Kinder Morgan (KMI) up 0.14 at 17.71 – change 0.79%
Marathon Oil Corp. (MRO) up 0.17 at 26.27 – change 0.65%
NOV Inc. (NOV) up 0.73 at 20.07 – change 3.77%
Occidental Petroleum (OXY) up 1.05 at 63.13 – change 1.69%
Phillips 66 (PSX) up 1.20 at 111.55 – change 1.08%
Pioneer Natural Resources (PXD) up 2.27 at 225.67 – change 1.01%
Tellurian Inc. (TELL) up 0.09 at 1.72 – change 5.52%
Valero (VLO) down 0.16 at 128.91 – change 0.13%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.68 at 84.74 – change 0.80%
CenterPoint (CNP) down 0.01 at 30.09 – change 0.04%
Entergy (ETR) down 0.57 at 102.70 – change 0.56%