Not only did crude oil prices jump more than $2 a barrel or nearly 3% in Tuesday’s trading but Oklahoma energy stocks gained as well with a few seeing 6% and 7% boosts for the day.
Crude prices rose on an anticipation that OPEC+ will maintain crude supply restrictions when members meet June 2. The start of the U.S. summer driving season and a weaker dollar also played a role in boosting crude prices.
West Texas Intermediate crude rose $2.11 or 2.7% from Friday’s close on the New York Mercantile Exchange while Brent crude futures for July went up $1.12 or 1.4% at $84.22 a barrel.
WTI had not seen a settlement since last Friday because of the Memorial Day weekend.
June natural gas rose 7 cents to $2.59 per 1,000 cubic feet.
Tuesday, the first trading day of the week, produced gains for a majority of Oklahoma energy stocks including a 7% shot in the arm for Empire Petroleum and a strong 6% gain for Mammoth Energy.
Alliance Resource Partners, L.P.
Mach Natural Resources LP
Mammoth Energy Services Inc
Many other energy stocks fnished the day with gains, according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 0.47 at 29.83 – change 1.60%
Cheniere (LNG) down 0.80 at 156.18 – change 0.51%
Chevron (CVX) up 1.29 at 159.04 – change 0.81%
ConocoPhillips (COP) up 1.71 at 118.96 – change 1.45%
Diamondback Energy (FANG) up 4.30 at 197.76 – change 2.22%
Energy Transfer LP (ET) up 0.05 at 15.49 – change 0.32%
Enterprise Products Partners (EPD) down 0.12 at 28.09 – change 0.43%
EOG Resources (EOG) up 2.58 at 125.85 – change 2.09%
Exxon Mobil (XOM) up 1.44 at 114.86 – change 1.26%
Kinder Morgan (KMI) unchanged at 19.07 – change 0.00%
Marathon Oil Corp. (MRO) up 0.89 at 26.45 – change 3.48%
NOV Inc. (NOV) up 0.31 at 18.55 – change 1.69%
Occidental Petroleum (OXY) up 0.26 at 62.21 – change 0.41%
Phillips 66 (PSX) up 0.08 at 142.76 – change 0.05%
Tellurian Inc. (TELL) up 0.04 at 0.56 – change 8.40%
Valero (VLO) up 1.14 at 163.57 – change 0.70%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.35 at 88.62 – change 0.40%
CenterPoint (CNP) up 0.03 at 29.54 – change 0.10%
Entergy (ETR) down 1.61 at 107.53 – change 1.48%
