Crude oil prices hit high levels as OPEC+ continues production cuts

 

A dollar-a-barrel jump in crude oil prices on Thursday came aftr OPEC+ indicated it would continue with production cuts. But adding to the increase were continued attacks on Russia’s oil refineries and a drop in the U.S. rig count.

It also led to gains for Oklahoma energy stocks.

West Texas Intermediate crude, considered the U.S. benchmark, rose $1.82 or 2.2% to finish the day at $83.17 a barrel on the New York Mercantile Exchange.

Brent crude, the global benchmark, gained $1.39 or 1.6% and settled at $87.48 a barrel, its highest mark since the end of October 2023.

For the week, WTI gained nearly 3.2% while Brent rose 2.4%.

May natural gas rose 4 cents to $1.76 per 1,000 cubic feet.
Oklahoma energy stocks recorded mostly gains in Thursday’s trading—some as much as 3% to 4%.
Alliance Resource Partners, L.P.
20.05 USD−0.14 
Canoo Inc
3.57 USD+0.32 
Chesapeake Energy Corp
88.83 USD+1.10 
Coterra Energy Inc
27.88 USD+0.020 
 Devon Energy Corp
50.18 USD+0.72 
Empire Petroleum Corp
5.11 USD+0.14 
Gulfport Energy Corp
160.12 USD+0.24 
Helmerich and Payne Inc
42.06 USD−0.17 
LSB Industries Inc
8.78 USD+0.26 
Mach Natural Resources LP
19.30 USD+0.26 
Mammoth Energy Services Inc
3.64 USD+0.0100 
Matrix Service Co
13.03 USD−0.34 
NGL Energy Partners LP
5.76 USD+0.010 
OGE Energy Corp
34.30 USD−0.030 
ONE Gas Inc
64.53 USD+1.07 
ONEOK Inc
80.17 USD+0.57 
Ovintiv Inc
51.90 USD+0.54 
PHX Minerals Inc
3.41 USD+0.090 
SandRidge Energy Inc
14.57 USD+0.060 
Southwestern Energy Co
7.58 USD+0.070 
Unit Corp
37.00 USD+0.34 
Vital Energy Inc
52.54 USD+1.78 
Williams Companies Inc
38.97 USD+0.43 
Other energy stocks finished up for the day. Here’s the Texas Energy Report listing.

APA Corp. (Apache) (APA) up 0.67 at 34.38 – change 1.98%

Cheniere (LNG) up 0.14 at 161.28 – change 0.08%

Chevron (CVX) up 1.39 at 157.74 – change 0.88%

ConocoPhillips (COP) up 0.44 at 127.28 – change 0.34%

Diamondback Energy (FANG) up 1.64 at 198.17 – change 0.83%

Energy Transfer LP (ET) up 0.19 at 15.73 – change 1.22%

Enterprise Products Partners (EPD) up 0.13 at 29.18 – change 0.44%

EOG Resources (EOG) up 1.45 at 127.84 – change 1.14%

Exxon Mobil (XOM) up 1.27 at 116.24 – change 1.10%

Kinder Morgan (KMI) up 0.19 at 18.34 – change 1.04%

Marathon Oil Corp. (MRO) up 0.63 at 28.34 – change 2.27%

NOV Inc. (NOV) up 0.32 at 19.52 – change 1.56%

Occidental Petroleum (OXY) up 0.79 at 64.98 – change 1.23%

Phillips 66 (PSX) up 4.38 at 163.34 – change 2.75%

Pioneer Natural Resources (PXD) up 2.50 at 262.50 – change 0.96%

Tellurian Inc. (TELL) up 0.06 at 0.66 – change 11.40%

Valero (VLO) up 2.88 at 170.69 – change 1.71%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 1.30 at 86.10 – change 1.53%

CenterPoint (CNP) up 0.20 at 28.49 – change 0.70%

Entergy (ETR) up 0.80 at 105.68 – change 0.76%