Anxiety over high interest rates leads to 4 straight days of crude oil price declines

 

Make it four consecutive days of losses for crude oil prices as they dropped nearly 1% on word U.S. interest rates will be around longer than many hoped. Oklahoma energy stocks recorded drops as well.

Prices fell to multi-month lows as analysts and investors fear the continued high interest rates will result in lower demand growth in the oil markets.

West Texas Intermediate in the U.S. fell 70 cents or 0.9% to settle at $76.87 a barrel on the New York Mercantile Exchange. It turned out to be a three-month low for WTI, the US benchmark.
Brent crude, the world benchmark, dropped 54 cents or 0.7% to finish at $81.36 a barrel on ICE Futures Europe. The closing was the lowest since January.
June natural gas fell 19 cents to $2.66 per 1,000 cubic feet.
Oklahoma energy stocks recorded mostly losses including 4% falls for Mammoth Energy and ONE Gas while OGE dropped 3%.
Alliance Resource Partners, L.P.
23.06 USD−0.10 
 Canoo Inc
2.36 USD−0.20 
Chesapeake Energy Corp
89.11 USD−0.64 
Devon Energy Corp
48.23 USD−0.57 
Empire Petroleum Corp
7.39 USD+0.42 
Gulfport Energy Corp
155.09 USD−0.59 
Helmerich and Payne Inc
37.10 USD−0.35 
LSB Industries Inc
9.70 USD−0.26 
Mach Natural Resources LP
20.16 USD−0.070 
Mammoth Energy Services Inc
3.55 USD−0.14 
Matrix Service Co
11.10 USD−0.24 
NGL Energy Partners LP
5.52 USD−0.12 
 OGE Energy Corp
35.62 USD−0.95 
ONE Gas Inc
60.37 USD−2.36 
ONEOK Inc
80.19 USD−1.47 
Ovintiv Inc
48.28 USD−0.44 
PHX Minerals Inc
3.25 USD−0.020 
SandRidge Energy Inc
13.48 USD−0.19 
Southwestern Energy Co
7.31 USD−0.050 
Unit Corp
36.50 USD0.00 
Vital Energy Inc
47.55 USD−0.94 
Williams Companies Inc
40.11 USD−0.61 
According to the Texas Energy Report, other energy stocks across the country finished down for the day.

APA Corp. (Apache) (APA) down 0.61 at 29.52 – change 2.03%

Cheniere (LNG) down 1.78 at 157.11 – change 1.13%

Chevron (CVX) down 0.63 at 156.94 – change 0.40%

ConocoPhillips (COP) down 0.54 at 117.65 – change 0.46%

Diamondback Energy (FANG) down 0.38 at 191.96 – change 0.20%

Energy Transfer LP (ET) down 0.32 at 15.41 – change 2.04%

Enterprise Products Partners (EPD) down 0.22 at 28.21 – change 0.78%

EOG Resources (EOG) down 2.02 at 124.03 – change 1.61%

Exxon Mobil (XOM) down 1.97 at 113.51 – change 1.71%

Kinder Morgan (KMI) down 0.31 at 19.07 – change 1.60%

Marathon Oil Corp. (MRO) down 0.11 at 25.77 – change 0.43%

NOV Inc. (NOV) up 0.01 at 18.25 – change 0.05%

Occidental Petroleum (OXY) down 0.70 at 61.96 – change 1.12%

Phillips 66 (PSX) down 0.71 at 142.19 – change 0.50%

Tellurian Inc. (TELL) down 0.02 at 0.52 – change 2.65%

Valero (VLO) up 0.56 at 162.56 – change 0.34%


CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 2.21 at 89.28 – change 2.41%

CenterPoint (CNP) down 0.71 at 29.35 – change 2.37%

Entergy (ETR) down 3.30 at 109.40 – change 2.93%