A larger than expected drop in crude oil and gasoline inventories gave a shot in the arm Wednesday to crude oil prices.
They might have risen more but were restricted by some minimal supply disruptions from Hurricane Beryl.
West Texas Intermediate crude rose 69 cents or 0.85% to finish at $82.10 a barrel on the New York Mercantile Exchange.
The global benchmark, Brent crude gained 42 cents or 0.5% and closed at $85.08 a barrel on ICE Futures Europe.
Reuters reported that WTI rose by as much as $1 during the session, after the U.S. Energy Information Administration reported that
U.S. crude inventories fell by 3.4 million barrels to 445.1 million barrels in the week ended July 5, far exceeding analysts’ expectations in a
Reuters poll for a 1.3 million-barrel draw.
August natural gas fell 1 cent to $2.33 per 1,000 cubic feet.
A day after Oklahoma energy stocks retreated on Tuesday, they rebounded with mostly gains on Wednesday. Mammoth Energy scored a 6% increase and PHX Minerals finished up 3%.
Alliance Resource Partners, L.P.
Mach Natural Resources LP
Mammoth Energy Services Inc
NGL Energy Partners LP Unit
ONEOK Inc
Many other energy stocks also enjoyed a day of gains, according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 0.02 at 28.77 – change 0.07%
Cheniere (LNG) down 1.06 at 174.92 – change 0.61%
Chevron (CVX) up 2.15 at 155.13 – change 1.40%
ConocoPhillips (COP) up 1.34 at 112.53 – change 1.20%
Diamondback Energy (FANG) down 0.21 at 202.39 – change 0.11%
Energy Transfer LP (ET) up 0.16 at 16.28 – change 0.99%
Enterprise Products Partners (EPD) down 0.03 at 29.16 – change 0.11%
EOG Resources (EOG) up 0.55 at 126.22 – change 0.43%
Exxon Mobil (XOM) up 0.98 at 111.92 – change 0.88%
Kinder Morgan (KMI) up 0.11 at 20.10 – change 0.55%
Marathon Oil Corp. (MRO) up 0.27 at 28.16 – change 0.96%
NOV Inc. (NOV) up 0.09 at 17.79 – change 0.50%
Occidental Petroleum (OXY) up 0.39 at 61.41 – change 0.63%
Phillips 66 (PSX) up 1.15 at 133.97 – change 0.87%
Tellurian Inc. (TELL) up 0.04 at 0.64 – change 6.66%
Valero (VLO) down 1.40 at 144.90 – change 0.96%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.56 at 88.25 – change 0.63%
CenterPoint (CNP) down 0.04 at 29.59 – change 0.14%
Entergy (ETR) up 0.97 at 105.92 – change 0.92%
