Crude oil prices recorded another day of gains on Tuesday while Oklahoma energy stocks ended mixed.
Oil prices finished up after the U.S. Energy Information Administration raised its global oil demand growth forecast for the year. At the same time, OPEC stayed with its forecast for relativelly strong growth in 2024. The EIA raised its 2024 world oil demand growth forecast to 1.10 million barrels per day from a previous estimate for a rise of 900,000 bpd.
West Texas Intermediate, the US benchmark finished up 16 cents or 0.2% to settle at $77.90 a barrel on the New York Mercantile Exchange.
Brent crude, the global benchmark, closed up 29 cents or 0.4% at $81.92 a barrel on ICE Futures Europe. It displayed a strong recovery since closing last week at $77.52, its lowest mark since February.
July natural gas rose 22 cents to $3.13 per 1,000 cubic feet.
Oklahoma energy stocks were mixed for the day. About half recorded gains and the other half experiences losses including LSB Industries with a 6% drop for the day. Empire Petroleum’s 2% gain was the strongest on Tuesday.
Alliance Resource Partners, L.P.
Mach Natural Resources LP
Mammoth Energy Services Inc
NGL Energy Partners LP Unit
Other energy stocks finished down for the day, according to the Texas Energy Report.
APA Corp. (Apache) (APA) up 0.22 at 29.69 – change 0.74%
Cheniere (LNG) down 0.60 at 157.37 – change 0.58%
Chevron (CVX) down 0.25 at 156.49 – change 0.16%
ConocoPhillips (COP) up 0.33 at 113.63 – change 0.29%
Diamondback Energy (FANG) down 0.30 at 193.67 – change 0.16%
Energy Transfer LP (ET) down 0.13 at 15.57 – change 0.83%
Enterprise Products Partners (EPD) down 0.12 at 28.42 – change 0.43%
EOG Resources (EOG) up 0.44 at 122.03 – change 0.36%
Exxon Mobil (XOM) down 0.91 at 112.17 – change 0.81%
Kinder Morgan (KMI) down 0.01 at 19.79 – change 0.06%
Marathon Oil Corp. (MRO) up 0.09 at 28.37 – change 0.31%
NOV Inc. (NOV) up 0.22 at 17.82 – change 1.24%
Occidental Petroleum (OXY) up 0.13 at 60.61 – change 0.21%
Phillips 66 (PSX) up 0.17 at 138.29 – change 0.12%
Tellurian Inc. (TELL) up 0.01 at 0.88 – change 1.28%
Valero (VLO) down 0.99 at 153.60 – change 0.65%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.15 at 88.41 – change 0.16%
CenterPoint (CNP) up 0.39 at 30.82 – change 1.28%
Entergy (ETR) up 0.10 at 108.16 – change 0.09%
