Oklahoma energy stocks finished Monday’s trading with gains while Brent and U.S. crude oil prices closed down for a loss, all because hopes for increased Chinese demand faded. West Texas Intermediate still finished above $80.
WTI closed down 53 cents or 0.65% at $80.72 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude, finished down 34 cents at $84.46 a barrel, for a loss of 0.4% on ICE Futures Europe.
China’s economic struggles are extending to its inability to purchase more crude oil.
“It seems that (China’s recovery) is not going to happen,” said John Kilduff, partner at Again Capital reported Reuters.
“It’s doubtful they’re going to be buying. They bought a lot of crude for storage earlier in the year. They’re sitting on a lot of crude.”
Natural gas closed up 0.08 at $2.63 – change 3.18%
Oklahoma energy stocks had a good trading day with most recording gains for the day including Vital Energy up 4% and Empire Petroleum up 3%.
On the down side were a handful of companies such as PHX Minerals with a 6% loss.
APA Corp. (Apache) (APA) down 0.32 at 43.90 – change 0.73%
Cheniere (LNG) up 0.23 at 164.13 – change 0.14%
Chevron (CVX) down 0.54 at 160.36 – change 0.34%
ConocoPhillips (COP) down 0.08 at 117.21 – change 0.07%
Diamondback Energy (FANG) up 0.41 at 148.44 – change 0.27%
Energy Transfer LP (ET) unchamged at 13.00 – change 0.00%
Enterprise Products Partners (EPD) up 0.04 at 26.55 – change 0.15%
EOG Resources (EOG) down 0.26 at 130.37 – change 0.20%
ExxonMobil (XOM) up 1.33 at 108.71 – change 1.21%
Kinder Morgan (KMI) down 0.08 at 17.36 – change 0.41%
Marathon Oil Corp. (MRO) up 0.05 at 26.44 – change 0.18%
NOV Inc. (NOV) down 0.08 at 20.55 – change 0.34%
Occidental Petroleum (OXY) down 0.34 at 63.73 – change 0.54%
Phillips 66 (PSX) down 0.91 at 113.33 – change 0.80%
Pioneer Natural Resources (PXD) down 0.57 at 237.29 – change 0.24%
Tellurian Inc. (TELL) up 0.04 at 1.31 – change 3.14%
Valero (VLO) down 2.42 at 131.16 – change 1.82%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.46 at 78.56 – change 0.59%
CenterPoint (CNP) up 0.09 at 28.28 – change 0.31%
Entergy (ETR) down 0.50 at 95.08 – change 0.53%