Tuesday’s slight drop in crude oil prices came as a result of increased crude output in the US while supplies increased in Libya and Norway.
North Dakota, whose oil production had plummeted 700,000 barrels a day because of recent frigid and nasty winter weather saw a return in output but remained down about 300,000 bpd.
US benchmark, West Texas Intermediate crude slipped 39 cents or 0.5% to $74.37 a barrel on the New York Mercantile Exchange.
The slide was larger for global benchmark Brent crude as it fell 51 cents or 0.6% to $79.55 a barrel on ICE Futures Europe.
February natural gas rose 3 cents to $2.45 per 1,000 cubic feet.
Oklahoma energy stocks split their day in trading with about half recording losses and the other half recording gains for the day. LSB Industries had a more than 4% gain while Canoo, the EV maker, dropped more than 6%.
Alliance Resource Partners, L.P.
Chesapeake Energy Ord Shs
Mach Natural Resources LP
Mammoth Energy Services Inc
NGL Energy Partners 9 Cumulative Redeemable Perpetual Pref Shs Unit Class B
Many other energy stocks experienced losses for the day. That’s according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 0.14 at 30.85 – change 0.45%
Cheniere (LNG) up 0.17 at 162.47 – change 0.10%
Chevron (CVX) down 0.40 at 142.09 – change 0.29%
ConocoPhillips (COP) down 0.08 at 107.99 – change 0.07%
Diamondback Energy (FANG) down 0.47 at 151.47 – change 0.31%
Energy Transfer LP (ET) up 0.06 at 13.94 – change 0.43%
Enterprise Products Partners (EPD) up 0.04 at 27.06 – change 0.14%
EOG Resources (EOG) down 0.27 at 110.37 – change 0.25%
Exxon Mobil (XOM) up 1.09 at 97.91 – change 1.12%
Kinder Morgan (KMI) down 0.08 at 17.07 – change 0.47%
Marathon Oil Corp. (MRO) up 0.09 at 22.37 – change 0.40%
NOV Inc. (NOV) up 0.13 at 20.10 – change 0.65%
Occidental Petroleum (OXY) down 0.01 at 56.73 – change 0.02%
Phillips 66 (PSX) up 1.45 at 131.11 – change 1.11%
Pioneer Natural Resources (PXD) up 2.65 at 219.14 – change 1.22%
Tellurian Inc. (TELL) down 0.05 at 0.55 – change 7.32%
Valero (VLO) down 0.01 at 129.11 – change 0.01%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.85 at 78.11 – change 1.10%
CenterPoint (CNP) up 0.03 at 27.50 – change 0.10%
Entergy (ETR) down 0.01 at 98.33 – change 0.02%
