Possible ceasefire in Gaza sent crude prices down on Friday

The possibility of a ceasefire in Gaza resulted in weaker crude benchmarks on Friday. But as Reuters reported, the shrinking U.S. rig count cushioned the fall.

Observers believe if peace talks are successful, it might convince Yemen’s Houthi rebels to allow oil tankers to pass unharmed through the Red Sea.

West Texas Intermediate crude fell 44 cents to $80.63 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude dropped 35 cents a barrel and settled at $85.43 on ICE Futures Europe.

April natural gas fell 2 cents to $1.68 per 1,000 cubic feet.

Friday saw losses for most Oklahoma energy stocks including a 5% drop for Mammoth Energy Services.

As for other energy stocks, many finished down for the day, according to the Texas Energy Report.

APA Corp. (Apache) (APA) down 0.45 at 33.46 – change 1.33%

Cheniere (LNG) up 0.04 at 159.72 – change 0.02%

Chevron (CVX) down 0.20 at 154.66 – change 0.13%

ConocoPhillips (COP) down 0.48 at 123.03 – change 0.39%

Diamondback Energy (FANG) up 0.30 at 194.70 – change 0.15%

Energy Transfer LP (ET) down 0.03 at 15.56 – change 0.20%

Enterprise Products Partners (EPD) up 0.07 at 28.86 – change 0.24%

EOG Resources (EOG) down 1.24 at 124.84 – change 0.99%

Exxon Mobil (XOM) unchanged at 113.49 – change 0.00%

Kinder Morgan (KMI) down 0.05 at 18.05 – change 0.28%

Marathon Oil Corp. (MRO) down 0.10 at 27.10 – change 0.37%

NOV Inc. (NOV) down 0.24 at 19.11 – change 1.25%

Occidental Petroleum (OXY) down 0.12 at 63.81 – change 0.19%

Phillips 66 (PSX) up 0.37 at 159.44 – change 0.23%

Pioneer Natural Resources (PXD) up 0.10 at 255.53 – change 0.03%

Tellurian Inc. (TELL) down 0.09 at 0.55 – change 13.83%

Valero (VLO) down 1.34 at 169.74 – change 0.69%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.15 at 82.95 – change 0.19%

CenterPoint (CNP) down 0.16 at 27.83 – change 0.58%

Entergy (ETR) down 0.20 at 103.17 – change 0.20%