Crude prices respond to Saudi Arabia’s oil cuts with a jump on Wednesday

 

U.S. crude prices rose 3% or $2 a barrel on Wednesday but Oklahoma energy stocks didn’t experience the same kind of gains.

The crude gains were in response to supply cuts announced earlier in the week by Saudi Arabia and Russia.

West Texas Intermediate crude managed a 2.9% or $2 a barrel gain to settle at $71.79 on the New York Mercantile Exchange.

Global benchmark Brent crude finished up 40 cents or 0.5% at $76.65 a barrel on ICE Futures Europe. The slight gain came after Brent rose $1.60 a barrel on Tuesday’s trading while there was no trading of WTI due to the July 4 holiday.

August natural gas fell 5 cents to $2.66 per 1,000 cubic feet.

Oklahoma energy stocks recorded mostly losses in Wednesday’s trading with Mammoth Energy and Unit Corporation falling 3%. On the flip side, SandRidge Energy gained 2.50% for the day.

Alliance Resource Partners, L.P.
19.11 USD+0.25 
Canoo Inc
0.55 USD+0.0098 
Chesapeake Energy Ord Shs
83.31 USD−0.48 
Coterra Energy Inc
25.19 USD+0.020 
Devon Energy Corp
48.50 USD−0.33 
Empire Petroleum Corp
8.60 USD+0.14 
Gulfport Energy Corp
105.08 USD+1.04 
 Helmerich & Payne, Inc.
35.25 USD−0.74 
LSB Industries Inc
9.88 USD−0.10 
Magellan Midstream Partners LP
62.09 USD−0.46 
Mammoth Energy Services Inc
4.56 USD−0.14 
Matrix Service Co
5.66 USD−0.18 
NGL Energy Partners LP
4.09 USD+0.10 
OGE Energy Corp
36.53 USD+0.31 
ONE Gas Inc
76.87 USD−0.18 
ONEOK, Inc.
61.59 USD−0.81 
Ovintiv Inc
37.92 USD+0.37 
PHX Minerals Inc
3.03 USD−0.050 
SandRidge Energy Inc
15.61 USD+0.38 
Unit Corp
47.05 USD−1.24 
Vital Energy Inc
45.75 USD−0.19 
Williams Companies Inc
32.46 USD−0.26 

It also turned out to be a weak trading day for other energy stocks, according to the Texas Energy Report.

APA Corp. (Apache) (APA) up 0.28 at 34.35 – change 0.85%

Cheniere (LNG) down 1.88 at 151.84 – change 1.23%

Chevron (CVX) down 0.90 at 156.31 – change 0.58%

ConocoPhillips (COP) down 0.21 at 104.02 – change 0.21%

Diamondback Energy (FANG) down 1.35 at 130.60 – change 1.03%

Energy Transfer LP (ET) down 0.01 at 12.84 – change 0.08%

Enterprise Products Partners (EPD) unchanged at 26.54 – change 0.00%

EOG Resources (EOG) down 0.41 at 114.29 – change 0.36%

ExxonMobil (XOM) down 0.56 at 106.91 – change 0.52%

Kinder Morgan (KMI) down 0.17 at 17.07 – change 0.99%

Marathon Oil Corp. (MRO) down 0.10 at 22.90 – change 0.44%

NOV Inc. (NOV) down 0.15 at 16.10 – change 0.93%

Occidental Petroleum (OXY) down 0.32 at 58.89 – change 0.55%

Phillips 66 (PSX) up 0.47 at 96.13 – change 0.49%

Pioneer Natural Resources (PXD) down 0.21 at 207.53 – change 0.11%

Tellurian Inc. (TELL) down 0.01 at 1.35 – change 0.74%

Valero (VLO) down 0.68 at 116.75 – change 0.58%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.48 at 85.80 – change 0.56%

CenterPoint (CNP) up 0.18 at 29.63 – change 0.61%

Entergy (ETR) up 1.02 at 99.16 – change 1.03%