Crude oil prices made a slight gain in Thursday’s trading but Oklahoma energy stocks suffered with some firms losing 6% and 7% for the day.
What prompted the small gain for crude oil was an OPEC forecast for demand growth along with information showing an easing of the labor market in the U.S. Combine that with indications of a slowing inflation and you have higher crude prices.
The U.S. benchmark, West Texas Intermediate crude finished up 12 cents or 0.2% at $78.62 a barrel on the New York Mercantile Exchange.
The overseas benchmark, Brent crude, gained 15 cents or 0.2% and closed at $82.75 a barrel on ICE Futures Europe.
The small gains for both Brent and WTI came after they recorded 1% increases on Wednesday.
July natural gas fell 9 cents to $2.96 per 1,000 cubic feet.
It proved to be a weak day for Oklahoma energy stocks as most suffered losses including the 7% drop for NGL Energy Partners and the 6% tumble for Empire Energy.
Alliance Resource Partners, L.P.
Mach Natural Resources LP
Mammoth Energy Services Inc
NGL Energy Partners LP Unit
According to the Texas Energy Report, many other energy stocks fnished down for the day.
APA Corp. (Apache) (APA) down 0.76 at 28.57 – change 2.60%
Cheniere (LNG) up 0.76 at 159.22 – change 0.47%
Chevron (CVX) down 1.38 at 152.84 – change 0.90%
ConocoPhillips (COP) down at 1.30 at 110.89 – change 1.26%
Diamondback Energy (FANG) down 3.30 at 190.35– change 1.71%
Energy Transfer LP (ET) down 0.18 at 15.30 – change 1.17%
Enterprise Products Partners (EPD) down 0.08 at 28.32 – change 0.29%
EOG Resources (EOG) down 1.83 at 119.10 – change 1.52%
Exxon Mobil (XOM) down 0.89 at 110.04 – change 0.81%
Kinder Morgan (KMI) down 0.12 at 19.76 – change 0.61%
Marathon Oil Corp. (MRO) down 0.35 at 27.68 – change 1.25%
NOV Inc. (NOV) down 0.16 at 17.89 – change 0.89%
Occidental Petroleum (OXY) down 0.50 at 59.80 – change 0.83%
Phillips 66 (PSX) up 1.66 at 137.66 – change 1.22%
Tellurian Inc. (TELL) up 0.04 at 0.80 – change 5.69%
Valero (VLO) up 1.44 at 149.82 – change 0.97%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.06 at 87.90 – change 0.07%
CenterPoint (CNP) down 0.09 at 30.90 – change 0.30%
Entergy (ETR) down 0.26 at 107.10 – change 0.25%
