Crude oil prices reached their highest mark on Friday in 7 months as both WTI and Brent crude rose nearly $2 a barrel, ending a two-week losing streak, because of expectations of tightening supplies.
West Texas Intermediate crude went up $1.92 to $85.55 a barrel on the New York Mercantile Exchange, the highest since November 2022.
Brent crude gained $1.72 to close at $88.55 a barrel on ICE Futures Europe.
For the week, WTI moved up 7.2%, the biggest weekly gain since March while Brent rose 4.8%, the most in a week since late July.
October natural gas was unchanged at $2.77 per 1,000 cubic feet.
Friday proved to be a strong day for Oklahoma energy stocks, with at least three firms, Devon Energy Corp., Gulfport Energy Corp. and Helmerich & Payne recording 4% gains.
APA Corp. (Apache) (APA) up 1.24 at 45.08 – change 2.82%
Cheniere (LNG) up 4.13 at 167.34 – change 2.53%
Chevron (CVX) up 3.20 at 164.30 – change 1.98%
ConocoPhillips (COP) up 3.11 at 122.14 – change 2.61%
Diamondback Energy (FANG) up 2.88 at 154.66 – change 1.89%
Energy Transfer LP (ET) up 0.15 at 13.62 – change 1.11%
Enterprise Products Partners (EPD) up 0.10 at 26.71 – change 0.37%
EOG Resources (EOG) up 2.36 at 130.97 – change 1.83%
ExxonMobil (XOM) up 2.33 at 113.52 – change 2.09%
Kinder Morgan (KMI) down 0.08 at 17.14 – change 0.47%
Marathon Oil Corp. (MRO) up 0.76 at 27.11 – change 2.88%
NOV Inc. (NOV) up 0.47 at 21.60 – change 2.22%
Occidental Petroleum (OXY) up 1.78 at 64.56 – change 2.83%
Phillips 66 (PSX) up 3.01 at 117.17 – change 2.63%
Pioneer Natural Resources (PXD) up 3.73 at 241.66 – change 2.56%
Tellurian Inc. (TELL) up 0.02 at 1.13 – change 1.78%
Valero (VLO) up 3.68 at 133.58 – change 2.83%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.88 at 77.52 – change 1.13%
CenterPoint (CNP) down 0.24 at 27.65 – change 0.87%
Entergy (ETR) down 0.91 at 94.34 – change 0.96%