Crude oil prices slipped in Tuesday’s trading

  • May 7, 2024

Crude oil stocks declined slightly in Tuesday’s trading after the U.S. Energy Information Administration raised its forecasts for world oil and liquid fuels output for the year and at the same time lowered its demand expectations.
We’ll know more on Wednesday when U.S. crude stocks are released by the EIA.
West Texas Intermediate crude finished down 10 cents at $78.38 a barrel on the New York Mercantile Exchange.
Brent crude closed down 17 cents to settle at $83.16 a barrel on ICE Futures Europe.
The U.S. Energy Information Administration on Tuesday raised its forecasts for this year’s world oil and liquid fuels output and lowered its demand expectations, pointing to a well-supplied market as opposed to prior forecasts that showed under-supply.
June natural gas rose 1 cent to $2.21 per 1,000 cubic feet.
A mixed day would best describe how Oklahoma energy stocks performed on Tuesday.
While Empire Petroleum recorded a 4% gain, Mammoth Energy fell 5%.
Alliance Resource Partners, L.P.
22.48 USD−0.54 
Canoo Inc
2.58 USD−0.050 
Chesapeake Energy Corp
88.62 USD−0.46 
Coterra Energy Inc
28.08 USD−0.26 
Devon Energy Corp
50.98 USD+0.12 
 Empire Petroleum Corp
6.31 USD+0.24 
Gulfport Energy Corp
157.63 USD+1.22 
Helmerich and Payne Inc
38.59 USD+0.14 
LSB Industries Inc
8.67 USD+0.010 
Mach Natural Resources LP
20.19 USD−0.54 
Mammoth Energy Services Inc
2.98 USD−0.16 
Matrix Service Co
11.93 USD−0.030 
NGL Energy Partners LP
5.85 USD−0.075 
OGE Energy Corp
35.97 USD+0.40 
 ONE Gas Inc
64.83 USD−0.26 
ONEOK Inc
78.37 USD+0.30 
 Ovintiv Inc
52.51 USD+0.100 
PHX Minerals Inc
3.33 USD−0.060 
SandRidge Energy Inc
13.82 USD−0.12 
Southwestern Energy Co
7.38 USD+0.040 
Unit Corp
37.75 USD−0.65 
 Vital Energy Inc
53.60 USD+0.15 
Williams Companies Inc
39.11 USD+0.050 

Other energy stocks had the same kind of mixed day, according to the Texas Energy Report.

APA Corp. (Apache) (APA) up 0.34 at 30.26 – change 1.13%

Cheniere (LNG) down 0.51 at 156.31 – change 0.33%

Chevron (CVX) up 0.37 at 162.66 – change 0.22%

ConocoPhillips (COP) down 0.01 at 123.54 – change 0.01%

Diamondback Energy (FANG) down 0.51 at 203.68 – change 0.25%

Energy Transfer LP (ET) up 0.07 at 16.13 – change 0.43%

Enterprise Products Partners (EPD) down 0.02 at 28.35 – change 0.08%

EOG Resources (EOG) down 0.22 at 130.26 – change 0.17%

Exxon Mobil (XOM) down 0.58 at 116.17 – change 0.50%

Kinder Morgan (KMI) up 0.16 at 18.77 – change 0.85%

Marathon Oil Corp. (MRO) up 0.34 at 27.05 – change 1.27%

NOV Inc. (NOV) up 0.06 at 18.96 – change 0.31%

Occidental Petroleum (OXY) up 0.05 at 65.06 – change 0.07%

Phillips 66 (PSX) up 0.09 at 145.21 – change 0.06%

Tellurian Inc. (TELL) up 0.01 at 0.44 – change 4.29%

Valero (VLO) down 1.53 at 156.66 – change 0.97%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 1.06 at 89.87 – change 1.19%

CenterPoint (CNP) up 0.28 at 29.60 – change 0.95%

Entergy (ETR) up 1.56 at 110.58 – change 1.43%

Jerry Bohnen