Monday brought about higher crude oil prices as Russia and Saudi Arabia reaffirmed their pledge to make extra voluntary oil supply reductions through the end of the year.
But the higher prices didn’t help Oklahoma energy stocks as some fell 8% in the day’s trading.
West Texas Intermediate crude, the U.S. benchmark, rose 31 cents or 0.4% to close at $80.82 a barrel on the New York Mercantile Exchange.
Brent crude, considered the global benchmark, finished up 29 cents or 0.34% at $85.18 a barrel on ICE Futures Europe.
On Sunday, Saudi Arabia confirmed it would continue making cuts of 1 million barrels a day in December, keeping the country’s output at 9 million barrels a day.
December natural gas fell 26 cents to $3.26 per 1,000 cubic feet.
If Monday were a road, it was a rocky one for Oklahoma energy stocks. For example, Empire Petroleum dropped 6% and LSB Industries fell 8%/
Chesapeake Energy
Other energy stocks also finished with losses, according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 0.66 at 39.29 – change 1.66%
Cheniere (LNG) down 2.53 at 171.06 – change 1.46%
Chevron (CVX) down 0.61 at 147.00 – change 0.42%
ConocoPhillips (COP) down 1.28 at 118.47 – change 1.07%
Diamondback Energy (FANG) down 1.96 at 160.13 – change 1.21%
Energy Transfer LP (ET) down 0.15 at 13.51 – change 1.10%
Enterprise Products Partners (EPD) down 0.23 at 26.41 – change 0.87%
EOG Resources (EOG) down 1.74 at 126.42 – change 1.36%
Exxon Mobil (XOM) down 1.91 at 105.87 – change 1.78%
Kinder Morgan (KMI) down 0.20 at 16.67 – change 1.19%
Marathon Oil Corp. (MRO) down 0.85 at 26.61 – change 3.10%
NOV Inc. (NOV) down 0.38 at 19.96 – change 1.87%
Occidental Petroleum (OXY) down 1.26 at 61.75 – change 2.00%
Phillips 66 (PSX) up 0.06 at 116.85 – change 0.05%
Pioneer Natural Resources (PXD) down 4.62 at 239.07 – change 1.90%
Tellurian Inc. (TELL) down 0.10 at 0.51 – change 15.64%
Valero (VLO) down 0.61 at 125.82 – change 0.49%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.47 at 79.25 – change 0.59%
CenterPoint (CNP) down 0.15 at 27.24 – change 0.55%
Entergy (ETR) down 0.11 at 98.07 – change 0.12%