A 2% jump in crude oil prices was recorded Monday due to tightening supplies and increasing U.S. gasoline demand, while Oklahoma energy stocks rebounded as well with at least one firm seeing a 6% gain for the day.
Crude prices reached nearly a three-month high according to Reuters.
West Texas Intermediate rose $1.67 or 2.1% per barrel to close at $78.74 on the New York Mercantile Exchange.
Global benchmark Brent futures also increased $1.67 or 2.1% a barrel, settling at $82.74 on ICE Futures Europe. It was the highest close for Brent since April 19 and the highest for WTI since April 24.
August natural gas fell 3 cents to $2.69 per 1,000 cubic feet.
Monday brought renewed interest in some Oklahoma energy stocks, including a 6% gain for Vital Energy and 3% boosts for Helmerich & Payne and NGL Energy Partners.
Alliance Resource Partners, L.P.
APA Corp. (Apache) (APA) up 0.64 at 3928 – change 1.65%
Cheniere (LNG) up 1.37 at 159.55 – change 0.86%
Chevron (CVX) up 3.13 at 161.82 – change 1.97%
ConocoPhillips (COP) up 1.83 at 114.72 – change 1.62%
Diamondback Energy (FANG) up 3.21 at 144.44 – change 2.27%
Energy Transfer LP (ET) up 0.13 at 13.28 – change 0.98%
Enterprise Products Partners (EPD) up 0.23 at 27.07 – change 0.85%
EOG Resources (EOG) up 1.54 at 126.15 – change 1.23%
ExxonMobil (XOM) up 1.63 at 105.52 – change 1.56%
Kinder Morgan (KMI) up 0.31 at 18.11 – change 1.74%
Marathon Oil Corp. (MRO) up 0.35 at 25.64 – change 1.38%
NOV Inc. (NOV) up 0.36 at 18.80 – change 1.95%
Occidental Petroleum (OXY) up 1.58 at 62.32 – change 1.60%
Phillips 66 (PSX) up 1.12 at 106.85 – change 1.05%
Pioneer Natural Resources (PXD) up 2.18 at 218.03 – change 1.00%
Tellurian Inc. (TELL) up 0.06 at 1.62 – change 3.84%
Valero (VLO) up 2.72 at 125.71 – change 2.21%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.33 at 87.60 – change 0.38%
CenterPoint (CNP) down 0.04 at 30.87 – change 0.13%
Entergy (ETR) up 0.47 at 104.46 – change 0.35%