A third consecutive day of losses hit crude oil prices on Monday as both Brent and WTI recorded declines of 1%. Investors are reported to be worried about a drop in demand and aren’t sure what to expect about just how deep the OPEC+ production cuts will be.
West Texas Intermediate crude fell $1.03 or 1.39% to settle at $73.04 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude closed down 85 cents or 1.08% to $78.03 a barrel on ICE Futures Europe.
The losses for both benchmarks were on top of the 2% tumble they experienced last week.
January natural gas fell 12 cents to $2.69 per 1,000 cubic feet.
By a slim margin, the majority of Oklahoma energy stocks experienced losses for the day. Chesapeake Energy lost 3% but a few stocks recorded gains, including a 3% gain for Mammoth Energy.
Other energy stocks recorded losses in Monday’s trading, according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 0.38 at 35.82 – change 1.05%
Cheniere (LNG) down 7.44 at 174.17 – change 4.10%
Chevron (CVX) up 0.06 at 144.87 – change 0.04%
ConocoPhillips (COP) down 0.70 at 114.53 – change 0.61%
Diamondback Energy (FANG) down 0.41 at 153.86 – change 0.27%
Energy Transfer LP (ET) unchanged at 13.89 – change 0.00%
Enterprise Products Partners (EPD) down 0.08 at 26.83 – change 0.30%
EOG Resources (EOG) down 0.60 at 123.00 – change 0.49%
Exxon Mobil (XOM) down 0.57 at 102.43 – change 0.77%
Kinder Morgan (KMI) down 0.10 at 17.85 – change 0.56%
Marathon Oil Corp. (MRO) down 0.38 at 25.06 – change 1.50%
NOV Inc. (NOV) down 0.09 at 19.03 – change 0.48%
Occidental Petroleum (OXY) down 0.97 at 57.86 – change 1.65%
Phillips 66 (PSX) down 1.26 at 128.44 – change 0.98%
Pioneer Natural Resources (PXD) down 1.80 at 230.35 – change 0.78%
Tellurian Inc. (TELL) down 0.03 at 0.62 – change 3.37%
Valero (VLO) up 0.08 at 126.46 – change 0.06%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.38 at 80.13 – change 0.48%
CenterPoint (CNP) up 0.06 at 28.85 – change 0.20%
Entergy (ETR) down 0.64 at 101.39 – change 0.63%
