A Tuesday rally by crude oil sent prices up more than a dollar a barrel andd most Oklahoma energy stocks had the same kind of day.
What caused the oil price increase? The value of the dollar weakened and investors worried openly about what Hurricane Idalia might do to energy supply once it hits Florida. The U.S. dollar index (.DXY) dropped on Tuesday after data showed that U.S. job openings, a measure of labor demand, fell in July.
West Texas Intermediate crude rose $1.06 or 1.3% to settle at $81.86 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude went up $1.07 or 1.3% to finish at $85.49 a barrel on ICE Futures Europe.
September natural gas fell 2 cents to $2.56 per 1,000 cubic feet.
For most Oklahoma energy stocks, it was a day of gains, including Empire Petroleum Inc. with a 5% increase.
Most other energy stocks were also up for the day, according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 0.67 at 43.57 – change 1.56%
Cheniere (LNG) up 1.14 at 163,69 – change 0.70%
Chevron (CVX) down 0.25 at 159.96 – change 0.16%
ConocoPhillips (COP) up 0.14 at 117.66 – change 0.11%
Diamondback Energy (FANG) up 0.51 at 151.19 – change 0.33%
Energy Transfer LP (ET) up 0.11 at 13.52 – change 0.82%
Enterprise Products Partners (EPD) up 0.28 at 26.81 – change 1.05%
EOG Resources (EOG) up 0.43 at 127.85 – change 0.33%
ExxonMobil (XOM) up 0.65 at 109.81 – change 0.59%
Kinder Morgan (KMI) up 0.09 at 17.45 – change 0.51%
Marathon Oil Corp. (MRO) up 0.22 at 26.14 – change 081%
NOV Inc. (NOV) up 0.25 at 20.93 – change 1.20%
Occidental Petroleum (OXY) up 0.16 at 62.40 – change 0.25%
Phillips 66 (PSX) down 0.44 at 112.69 – change 0.39%
Pioneer Natural Resources (PXD) up 1.34 at 237.76 – change 0.56%
Tellurian Inc. (TELL) up 0.04 at 1.19 – change 3.47%
Valero (VLO) down 0.21 at 131.38 – change 0.16%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.43 at 79.63 – change 0.54%
CenterPoint (CNP) down 0.09 at 28.13 – change 0.32%
Entergy (ETR) up 2.70 at 97.98 – change 2.83%