Wednesday brought a big drop in crude oil prices and for Oklahoma energy stocks. The tumble came after a few days of gains.
Benchmark U.S. crude, West Texas Intermediate for February delivery, dropped $1.46 or 1.9% to $74.11 a barrel in trading on the New York Mercantile Exchange.
World benchmark Brent crude for February delivery fell $1.42 or 2.13% to $79.65 a barrel on ICE Futures Europe.
Bloomberg reported the two benchmarks formed a bearish “death cross” where the 50-day moving average crosses below the 200-day for the first time since September 2022.
January natural gas rose 7 cents to $2.62 per 1,000 cubic feet.
Most Oklahoma energy stocks recorded losses for the day, including a 6% fall for Empire Petroleum.
Other energy stocks suffered losses as well, according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 0.12 at 37.17 – change 0.33%
Cheniere (LNG) up 0.03 at 171.36 – change 0.01%
Chevron (CVX) down 0.50 at 151.91 – change 0.33%
ConocoPhillips (COP) down 0.53 at 118.49 – change 0.45%
Diamondback Energy (FANG) down 0.91 at 158.09 – change 0.58%
Energy Transfer LP (ET) up 0.01 at 13.79 – change 0.07%
Enterprise Products Partners (EPD) up 0.01 at 26.21 – change 0.03%
EOG Resources (EOG) down 0.03 at 124.27 – change 0.03%
Exxon Mobil (XOM) down 0.48 at 101.66 – change 0.47%
Kinder Morgan (KMI) down 0.08 at 17.77 – change 0.45%
Marathon Oil Corp. (MRO) down 0.30 at 25.85 – change 1.20%
NOV Inc. (NOV) down 0.04 at 20.76 – change 0.20%
Occidental Petroleum (OXY) down 0.40 at 61.04 – change 0.66%
Phillips 66 (PSX) down 1.02 at 134.69 – change 0.76%
Pioneer Natural Resources (PXD) down 1.16 at 228.83 – change 0.51%
Tellurian Inc. (TELL) up 0.06 at 0.94 – change 7.55%
Valero (VLO) down 1.37 at 131.82 – change 1.03%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.08 at 80.81 – change 0.09%
CenterPoint (CNP) down 0.12 at 28.38 – change 0.43%
Entergy (ETR) down 0.04 at 100.31 – change 0.04%