A bigger-than-expected increase in U.S. crude inventories sent crude oil prices tumbling more than 1.5% on Wednesday. Mounting worries about demand in Asia were also said to be responsible for the price plunge.
West Texas Intermediate crude fell $1.60 or 2% a barrel to settle at $76.66 on the New York Mercantile Exchange.
Global benchmark Brent crude finished down $1.29 or 1.6% at $81.18 a barrel on ICE Futures Europe.
WTI also ended up in contango, with the front month contract lower than the second month, meaning investors believe prices in the coming months will be higher than current prices.
December natural gas rose 8 cents to $3.19 per 1,000 cubic feet.
Oklahoma energy stocks were mixed with Empire Petroleum falling more than 6% a day after it shot up by 22% while Mammoth Energy rose 4% for the day.
APA Corp. (Apache) (APA) down 0.26 at 37.31 – change 0.70%
Cheniere (LNG) down 0.43 at 171.29 – change 0.25%
Chevron (CVX) up 0.51 at 145.56 – change 0.35%
ConocoPhillips (COP) down 0.51 at 115.03 – change 0.45%
Diamondback Energy (FANG) unchanged at 155.79 – change 0.00%
Energy Transfer LP (ET) up 0.05 at 13.36 – change 0.37%
Enterprise Products Partners (EPD) up 0.02 at 26.24 – change 0.07%
EOG Resources (EOG) down 2.05 at 123.07 – change 1.64%
Exxon Mobil (XOM) down 0.63 at 103.66 – change 0.61%
Kinder Morgan (KMI) up 0.12 at 16.92 – change 0.71%
Marathon Oil Corp. (MRO) down 0.19 at 25.41 – change 0.75%
NOV Inc. (NOV) down 0.21 at 19.66 – change 1.06%
Occidental Petroleum (OXY) down 0.43 at 61.30 – change 0.70%
Phillips 66 (PSX) up 0.47 at 115.49 – change 0.40%
Pioneer Natural Resources (PXD) down 1.71 at 235.20 – change 0.73%
Tellurian Inc. (TELL) up 0.01 at 0.60 – change 2.20%
Valero (VLO) up 0.62 at 126.70 – change 0.49%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.88 at 76.53 – change 1.14%
CenterPoint (CNP) down 0.04 at 27.43 – change 0.15%
Entergy (ETR) down 0.03 at 98.32 – change 0.04%
