Crude oil prices gained Wednesday following drop in US crude supplies

Before taking a day off during the July 4th holiday, crude oil prices gained nearly 1% in Wednesday’s trading.

A larger-than-expected draw in U.S. crude oil stocks sparked the gain but there were still some existing concerns about increasing inventories around the rest of the world. (see elsewhere in OK Energy Today for report on crude stocks)

West Texas Intermediate crude, the U.S. benchmark, gained $1.07 or 1.3% and settled at $83.88 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude went up $1.10 or 1.3% and finished at $87.34 barrel on Wednesday on ICE Futures Europe.

August natural gas fell 2 cents to $2.42 per 1,000 cubic feet.

The majority of Oklahoma energy stocks recorded gains on Wednesday, the day before July 4th holiday.

Many had gains of 1% and 2% while a few suffered losses, including a 3% drop for Mammoth Energy Services.

Most other energy stocks also recorded gains on Wednesday, according to the Texas Energy Report.

APA Corp. (Apache) (APA) up 0.07 at 29.43 – change 0.23%

Cheniere (LNG) down 0.38 at 174.07 – change 0.22%

Chevron (CVX) down 0.04 at 156.71 – change 0.03%

ConocoPhillips (COP) up 0.65 at 114.77 – change 0.56%

Diamondback Energy (FANG) up 2.02 at 206.73 – change 0.99%

Energy Transfer LP (ET) down 0.08 at 16.32 – change 0.43%

Enterprise Products Partners (EPD) up 0.02 at 29.06 – change 0.06%

EOG Resources (EOG) up 0.12 at 126.77 – change 0.09%

Exxon Mobil (XOM) up 0.57 at 114.76 – change 0.50%

Kinder Morgan (KMI) up 0.24 at 19.96 – change 1.21%

Marathon Oil Corp. (MRO) up 0.19 at 28.77 – change 0.66%

NOV Inc. (NOV) up 0.02 at 18.50 – change 0.10%

Occidental Petroleum (OXY) down 0.04 at 62.32 – change 0.07%

Phillips 66 (PSX) down 0.10 at 140.37 – change 0.08%

Tellurian Inc. (TELL) up 0.04 at 0.68 – change 6.93%

Valero (VLO) up 0.54 at 158.50 – change 0.34%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.06 at 87.56 – change 0.07%

CenterPoint (CNP) down 0.13 at 30.33 – change 0.43%

Entergy (ETR) down 0.34 at 105.55 – change 0.33%