Crude oil prices dropped on Friday

Crude oil prices fell on Friday and Oklahoma energy stocks dropped as well.

Investors were reportedly worried that global oil demand growth might be a victim of a strong U.S. dollar and negative economic news from around the world. The price decline came despite signs of improving U.S. oil demand and falling fuel inventories.

West Texas Intermediate crude fell 56 cents or 0.7% to $80.73 a barrel on the New York Mercantile Exchange.

Brent crude dropped 47 cents or 0.6% and settled at $85.24 a barrel on ICE Futures Europe.

Reuters reported the price decline pushed WTI out of technically overbought territory for the first time in four days, while Brent futures remained overbought for a fourth day in a row for the first time since early April.

July natural gas fell 4 cents to $2.71 per 1,000 cubic feet.

Oklahoma energy stocks experienced losses on Friday including Empire Petroleum with a more than 6% drop for the day.

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Other energy stocks were also down for the day, according to the Texas Energy Report.

APA Corp. (Apache) (APA) down 0.21 at 28.09 – change 0.75%

Cheniere (LNG) up 0.99 at 164.92 – change 0.60%

Chevron (CVX) down 1.36 at 155.28 – change 0.87%

ConocoPhillips (COP) up 0.01 at 111.34 – change 0.01%

Diamondback Energy (FANG) down 1.85 at 190.88 – change 0.96%

Energy Transfer LP (ET) up 0.02 at 15.72 – change 0.12%

Enterprise Products Partners (EPD) down 0.01 at 28.57 – change 0.04%

EOG Resources (EOG) up 0.06 at 122.05 – change 0.04%

Exxon Mobil (XOM) down 0.98 at 110.76 – change 0.08%

Kinder Morgan (KMI) down 0.09 at 19.71 – change 0.46%

Marathon Oil Corp. (MRO) down 0.08 at 27.76 – change 0.26%

NOV Inc. (NOV) down 0.15 at 18.01 – change 0.83%

Occidental Petroleum (OXY) down 1.52 at 60.92 – change 2.44%

Phillips 66 (PSX) up 0.13 at 138.09 – change 0.09%

Tellurian Inc. (TELL) down 0.02 at 0.62 – change 1.67%

Valero (VLO) down 2.26 at 150.21 – change 1.49%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.83 at 87.05 – change 0.95%

CenterPoint (CNP) down 0.29 at 31.00 – change 0.90%

Entergy (ETR) down 0.48 at 105.81 – change 0.46%