Crude prices up after surprise drawdown in oil stocks in US

A surprise drawdown in U.S. crude oil storage, including at the Cushing Hub in Oklahoma, sparked a 1% gain in crude oil prices. There was also a slump in the nation’s crude output and combined with a weaker dollar, prices made the increase.

US benchmark, West Texas Intermediate rose 72 cents or an even 1% to close at $75.09 a barrel on the New York Mercantile Exchange.

Brent crude, the global benchmark, finished up 49 cents or 0.6% to settle at $80.04 a barrel on ICE Futures Europe.

February natural gas rose 19 cents to $2.64 per 1,000 cubic feet.

Most Oklahoma energy stocks recorded gains in Wednesday’s trading including a 3% jump for Gulfport Energy Corp. and 2% increases for merging companies Chesapeake Energy and Southwestern Energy.

Other energy stocks also recorded gains for the day. Here’s the Texas Energy Report.

APA Corp. (Apache) (APA) up 0.52 at 31.37 – change 1.68%

Cheniere (LNG) up 2.86 at 165.33 – change 1.76%

Chevron (CVX) up 2.83 at 144.91 – change 1.99%

ConocoPhillips (COP) up 1.68 at 109.67 – change 1.55%

Diamondback Energy (FANG) up 1.73 at 153.19 – change 1.14%

Energy Transfer LP (ET) up 0.13 at 14.07 – change 0.93%

Enterprise Products Partners (EPD) up 0.06 at 27.12 – change 0.22%

EOG Resources (EOG) up 1.72 at 112.09 – change 1.55%

Exxon Mobil (XOM) up 1.69 at 99.60 – change 1.72%

Kinder Morgan (KMI) down 0.19 at 16.89 – change 1.12%

Marathon Oil Corp. (MRO) up 0.22 at 22.59 – change 0.98%

NOV Inc. (NOV) up 0.80 at 20.90 – change 3.98%

Occidental Petroleum (OXY) up 0.57 at 57.31 – change 1.02%

Phillips 66 (PSX) up 2.56 at 133.66 – change 1.95%

Pioneer Natural Resources (PXD) up 3.82 at 222.96 – change 1.74%

Tellurian Inc. (TELL) down 0.05 at 0.51 – change 7.30%

Valero (VLO) up 1.04 at 130.15 – change 0.80%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 1.13 at 76.98 – change 1.44%

CenterPoint (CNP) down 0.36 at 27.14 – change 1.31%

Entergy (ETR) down 1.13 at 97.20 – change 1.15%