The murderous attacks by Hamas that led Israel to declare war sparked major gains in crude oil prices on Monday and Oklahoma energy stocks recorded jumps of 5% and 6%.
The gains resulted in crude oil to recover from last week’s steep losses where Brent fell about 11% and WTI dropped 8%. Prices rose on fears that the deadly fighting could affect oil supplies in the Middle East.
West Texas Intermediate crude, the U.S. benchmark, rose $3.59 per barrel or 4.3% and closed at $86.38 on the New York Mercantile Exchange.
Brent crude finished up $3.57 or 4.2% at $88.15 a barrel on ICE Futures Europe.
November natural gas rose 4 cents to $3.38 per 1,000 cubic feet.
Oklahoma energy stocks recorded strong gains in the midst of the terrorism and bloodshed in Israel. Gains of 6% were made by Helmerich & Payne and Ovintiv while a few others, Devon Energy, LSB Industries, and SandRidge had 5% increases for the day.
APA Corp. (Apache) (APA) up 1.58 at 39.17 – change 4.20%
Cheniere (LNG) up 5.41 at 168.76 – change 3.31%
Chevron (CVX) up 4.49 at 166.72 – change 2.76%
ConocoPhillips (COP) up 6.49 at 121.82 – change 5.62%
Diamondback Energy (FANG) up 5.24 at 156.47 – change 3.46%
Energy Transfer LP (ET) up 0.23 at 13.69 – change 1.70%
Enterprise Products Partners (EPD) up 0.13 at 27.09 – change 0.48%
EOG Resources (EOG) up 6.56 at 127.24 – change 5.43%
Exxon Mobil (XOM) up 3.75 at 110.92 – change 3.49%
Kinder Morgan (KMI) up 0.50 at 16.76 – change 3.07%
Marathon Oil Corp. (MRO) up 1.63 at 26.22 – change 6.62%
NOV Inc. (NOV) up 1.02 at 19.98 – change 5.37%
Occidental Petroleum (OXY) up 2.78 at 64.18 – change 4.52%
Phillips 66 (PSX) up 2.02 at 111.21 – change 1.84%
Pioneer Natural Resources (PXD) down 1.81 at 235.62 – change 0.77%
Tellurian Inc. (TELL) up 0.04 at 1.06 – change 3.92%
Valero (VLO) up 0.42 at 126.95 – change 0.33%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.47 at 73.66 – change 2.03%
CenterPoint (CNP) up 0.42 at 27.29 – change 1.56%
Entergy (ETR) up 1.03 at 93.02 – change 1.11%
