A surprise U.S. crude oil draw, including more oil removed from Oklahoma’s Cushing Hub, led Wednesday to a 2% gain in prices. Plus, concerns about global supplies after Iran called for an oil embargo on Israel pushed prices higher.
But Oklahoma energy stocks didn’t take the same path. Most recorded losses as much as 5% for the day.
West Texas Intermediate, the U.S. benchmark, went up $1.66 or 1.9% per barrel to close at $88.32 on the New York Mercantile Exchange.
Global benchmark Brent crude gained $1.60 or 1.8% to settle at $91.50 a barrel on ICE Futures Europe.
At the highest point in trading, both WTI and Brent were up more than $3 a barrel.
November natural gas fell 2 cents to $3.06 per 1,000 cubic feet.
Wednesday’s trading brought a dip in most Oklahoma energy stocks, including a 5% decline for Empire Petroleum and Matrix Service Co.
Other energy stocks recorded gains, according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 0.56 at 42.99 – change 1.31%
Cheniere (LNG) up 2.39 at 175.64 – change 1.37%
Chevron (CVX) up 1.33 at 168.92 – change 0.79%
ConocoPhillips (COP) up 1.12 at 126.59 – change 0.90%
Diamondback Energy (FANG) up 1.45 at 169.92 – change 0.86%
Energy Transfer LP (ET) up 0.09 at 13.93 – change 0.65%
Enterprise Products Partners (EPD) up 0.01 at 29.68 – change 0.03%
EOG Resources (EOG) up 1.46 at 135.76 – change 1.08%
Exxon Mobil (XOM) up 1.56 at 112.95 – change 1.40%
Kinder Morgan (KMI) down 0.19 at 17.14 – change 1.10%
Marathon Oil Corp. (MRO) up 0.22 at 28.85 – change 0.76%
NOV Inc. (NOV) down 0.24 at 20.82 – change 1.14%
Occidental Petroleum (OXY) up 0.97 at 66.50 – change 1.48%
Phillips 66 (PSX) up 2.34 at 116.25 – change 2.05%
Pioneer Natural Resources (PXD) up 3.39 at 255.23 – change 1.34%
Tellurian Inc. (TELL) down 0.02 at 0.74 – change 2.05%
Valero (VLO) up 3.31 at 134.03 – change 2.53%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.50 at 75.17 – change 0.67%
CenterPoint (CNP) down 0.26 at 27.68 – change 0.94%
Entergy (ETR) down 0.04 at 94.73 – change 0.05%