Crude prices settled lower on Friday amid speculation of Gaza ceasefire

Instead of going off like Thursday’s fireworks on Independence Day, crude oil prices did the opposite on Friday, falling about 1%.

Some analysts, according to Reuters, contended that crude prices dropped because of optimism of a ceasefire in Gaza and the optimism outweighed concern that Gulf of Mexico hurricanes would disrupt supplies.

West Texas Intermediate crude dropped 72 cents or 0.9% to finish at $83.16 a barrel on the New York Mercantile Exchange.

Brent crude, the global benchmark finished down 89 cents or 1.02% to $86.54 a barrel on ICE Futures Europe.

August natural gas fell 10 cents to $2.32 per 1,000 cubic feet.

Oklahoma energy stocks fizzled on Friday like dud fireworks that were supposed to go off on July 4th. Only a few recorded gains while some, such as Matrix Service Co. dropped 5% and Mammoth Energy fell 4%.

Other energy stocks also fizzled in Friday’s trading, according to the Texas Energy Report.

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APA Corp. (Apache) (APA) down 0.83 at 28.60 – change 2.83%

Cheniere (LNG) up 0.11 at 174.18 – change 0.06%

Chevron (CVX) down 2.40 at 154.31 – change 1.54%

ConocoPhillips (COP) down 2.23 at 112.55 – change 1.94%

Diamondback Energy (FANG) down 3.40 at 203.53 – change 1.65%

Energy Transfer LP (ET) down 0.15 at 16.18 – change 0.92%

Enterprise Products Partners (EPD) down 0.05 at 29.01 – change 0.18%

EOG Resources (EOG) down 1.83 at 124.94 – change 1.45%

Exxon Mobil (XOM) down 1.39 at 113.37 – change 1.22%

Kinder Morgan (KMI) down 0.08 at 19.89 – change 0.36%

Marathon Oil Corp. (MRO) down 0.59 at 28.18 – change 2.06%

NOV Inc. (NOV) down 0.48 at 18.02 – change 2.60%

Occidental Petroleum (OXY) down 0.53 at 61.79 – change 0.86%

Phillips 66 (PSX) down 1.97 at 138.40 – change 1.41%

Tellurian Inc. (TELL) down 0.05 at 0.64 – change 5.85%

Valero (VLO) down 0.02 at 157.96 – change 0.02%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.30 at 87.86 – change 0.34%

CenterPoint (CNP) up 0.16 at 30.49 – change 0.52%

Entergy (ETR) down 0.18 at 105.37 – change 0.18%