Crude oil prices slipped Monday

  • May 20, 2024

 

Crude oil prices backed off their recent gains and slipped less than 1% in Monday’s trading as the Fed indicated it is waiting for more signs that inflation is declining before it starts making any cuts in interest rates. Lower interest rates might boost economic growth and a demand for more crude oil.
West Texas Intermediate dropped 26 cents or 0.3% to settle at $79.80 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude fell 27 cents or 0.3% and finished at $83.71 a barrel on ICE Futures Europe.
Reuters reported it kept the premium of Brent over WTI close to its lowest level since March for a third consecutive day.
June natural gas rose 12 cents to $2.75 per 1,000 cubic feet.
Monday’s trading produced gains for most Oklahoma energy stocks including a 4% jump for Unit Corporation and a 3% boost for Vital Energy.
Alliance Resource Partners, L.P.
23.06 USD+0.24 
Canoo Inc
2.73 USD−0.050 
Chesapeake Energy Corp
91.60 USD−0.090 
Coterra Energy Inc
28.43 USD+0.24 
Devon Energy Corp
50.02 USD+0.40 
Empire Petroleum Corp
6.59 USD+0.15 
Gulfport Energy Corp
160.32 USD+2.39 
Helmerich and Payne Inc
38.74 USD+0.25 
 LSB Industries Inc
9.83 USD+0.13 
Mach Natural Resources LP
20.55 USD−0.15 
Mammoth Energy Services Inc
3.74 USD−0.0100 
Matrix Service Co
11.40 USD+0.19 
NGL Energy Partners LP
5.66 USD−0.040 
OGE Energy Corp
36.98 USD+0.020 
ONE Gas Inc
63.90 USD+0.18 
ONEOK Inc
82.71 USD+0.080 
Ovintiv Inc
49.81 USD+0.020 
PHX Minerals Inc
3.25 USD+0.050 
 SandRidge Energy Inc
13.91 USD+0.28 
Southwestern Energy Co
7.55 USD+0.020 
Unit Corp
37.75 USD+1.54 
Vital Energy Inc
50.91 USD+1.38 
Williams Companies Inc
41.44 USD+0.17 
According to the Texas Energy Report, other energy stocks had a mixed day in trading.

APA Corp. (Apache) (APA) up 0.02 at 30.90 – change 0.06%

Cheniere (LNG) down 0.36 at 159.80 – change 0.23%

Chevron (CVX) down 1.53 at 161.13 – change 0.95%

ConocoPhillips (COP) down 0.82 at 120.89 – change 0.68%

Diamondback Energy (FANG) up 0.16 at 197.83 – change 0.08%

Energy Transfer LP (ET) up 0.17 at 16.13 – change 1.06%

Enterprise Products Partners (EPD) up 0.09 at 28.65 – change 0.31%

EOG Resources (EOG) down 0.08 at 129.86 – change 0.07%

Exxon Mobil (XOM) down 0.97 at 118.67 – change 0.82%

Kinder Morgan (KMI) up 0.14 at 19.84 – change 0.71%

Marathon Oil Corp. (MRO) up 0.25 at 26.46 – change 0.95%

NOV Inc. (NOV) down 0.08 at 18.98 – change 0.42%

Occidental Petroleum (OXY) up 0.16 at 63.57 – change 0.25%

Phillips 66 (PSX) down 2.66 at 144.41 – change 1.81%

Tellurian Inc. (TELL) up 0.08 at 0.60 – change 16.41%

Valero (VLO) down 2.28 at 163.78 – change 1.38%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.08 at 92.59 – change 0.09%

CenterPoint (CNP) down 0.09 at 29.99 – change 0.30%

Entergy (ETR) down 0.23 at 112.80 – change 0.21%

 

 

Jerry Bohnen