Crude oil prices rose more than 2% on Monday while most Oklahoma energy stocks recorded losses for the day. The crude price gains came as new supply cuts in OPEC+ production are expected when the member countries meet early next week.
West Texas Intermediate crude finished up $1.71 or 2.3% at $77.60 a barrel on the New York Mercantile Exchange.
Brent crude rose $1.71 or 2.1% and closed at $82.32 a barrel on ICE Futures Europe.
The OPEC+ countries are to meet Nov. 26 to consider making more supply cuts.
December natural gas fell 8 cents to $2.88 per 1,000 cubic feet.
A few Oklahoma energy stocks recorded some gains in Monday’s trading but most suffered losses including 2% drops for Mammoth Energy and ONE Gas.
Many other energy stocks also recorded losses, according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 0.13 at 37.00 – change 0.35%
Cheniere (LNG) up 0.22 at 173.72 – change 0.12%
Chevron (CVX) down 0.08 at 144.38 – change 0.06%
ConocoPhillips (COP) up 0.80 at 115.39 – change 0.69%
Diamondback Energy (FANG) unchanged at 156.15 – change 0.00%
Energy Transfer LP (ET) up 0.04 at 13.56 – change 0.29%
Enterprise Products Partners (EPD) down 0.01 at 26.26 – change 0.04%
EOG Resources (EOG) up 1.23 at 125.23 – change 0.99%
Exxon Mobil (XOM) down 0.46 at 104.50 – change 0.44%
Kinder Morgan (KMI) down 0.02 at 16.94 – change 0.12%
Marathon Oil Corp. (MRO) up 0.01 at 25.57 – change 0.03%
NOV Inc. (NOV) down 0.18 at 19.27 – change 0.93%
Occidental Petroleum (OXY) up 0.18 at 61.14 – change 0.29%
Phillips 66 (PSX) up 1.74 at 118.11 – change 1.49%
Pioneer Natural Resources (PXD) down 0.79 at 237.37 – change 0.34%
Tellurian Inc. (TELL) down 0.01 at 0.53 – change 1.60%
Valero (VLO) up 0.62 at 124.73 – change 0.49%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.20 at 77.19 – change 0.26%
CenterPoint (CNP) down 0.21 at 27.59 – change 0.76%
Entergy (ETR) down 0.15 at 98.96 – change 0.16%