Investors apparently aren’t as concerned that the fighting in Gaza will cause a great disruption of oil production in the Middle East. Crude price on Tuesday dropped every so slightly as data was also released showing gains in crude oil production from OPEC and the U.S.
Between WTI and Brent, WTI had the biggest decline of the day.
West Texas Intermediate crude for December delivery dropped $1.29 or 1.6% to $81.02 a barrel on the New York Mercantile Exchange. January delivery of WTI fell $1.18 to $80.50 a barrel.
Brent crude for December, considered the global benchmark, closed down 4 cents at $87.41 a barrel on ICE Futures Europe. Its more heavily traded January contract went down $1.33 or 1.4% to $85..02.
December natural gas rose 22 cents to $3.58 per 1,000 cubic feet.
Some losses were mixed in with the day’s moderate gains recorded by Oklahoma energy stocks.
APA Corp. (Apache) (APA) up 0.04 at 39.72 – change 0.10%
Cheniere (LNG) down 0.43 at 166.42 – change 0.26%
Chevron (CVX) down 0.36 at 145.72 – change 0.25%
ConocoPhillips (COP) up 0.66 at 118.80 – change 0.55%
Diamondback Energy (FANG) up 1.89 at 160.32 – change 1.19%
Energy Transfer LP (ET) unchanged at 13.15 – change 0.00%
Enterprise Products Partners (EPD) down 0.40 at 26.04 – change 1.52%
EOG Resources (EOG) up 0.80 at 126.25 – change 0.63%
Exxon Mobil (XOM) down 0.03 at 105.85 – change 0.03%
Kinder Morgan (KMI) up 0.07 at 16.20 – change 0.43%
Marathon Oil Corp. (MRO) up 0.15 at 27.31 – change 0.55%
NOV Inc. (NOV) up 0.17 at 19.96 – change 0.85%
Occidental Petroleum (OXY) up 0.14 at 61.81 – change 0.22%
Phillips 66 (PSX) up 1.63 at 114.07 – change 1.44%
Pioneer Natural Resources (PXD) up 0.09 at 239.00 – change 0.03%
Tellurian Inc. (TELL) up 0.03 at 0.69 – change 5.05%
Valero (VLO) up 2.76 at 127.00 – change 2.22%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.13 at 75.64 – change 0.17%
CenterPoint (CNP) down 0.01 at 26.88 – change 0.04%
Entergy (ETR) up 0.82 at 95.59 – change 0.86%