Suggestion of interest rate cut sent crude prices up more than 2% on Friday

Crude oil finished the week with a more than 2% gain on Friday, thanks to a strong hint from U.S. Federal Reserve Chair Jerome Powell that the central bank would likely cut interest rates.

West Texas Intermediate crude closed up $1.82 or 2.49% at $74.83 a barrel on the New York Mercantile Exchange.

Brent crude gained $1.80 or 2.33% and finished at $79.02 a barrel on ICE Futures Europe.

Oklahoma energy stocks finished the trading week on Friday with strong gains including Chesapeake Energy up 3%, Empire Petroleum and Mammoth Energy with a 4% boost and LSB Industries up 6%.

Other energy stocks also recorded gains on Friday, according to the Texas Energy Report.

APA Corp. (Apache) (APA) up 0.55 at 28.47 – change 1.96%

Cheniere (LNG) up 2.04 at 183.96 – change 1.12%

Chevron (CVX) up 1.89 at 147.62 – change 1.29%

ConocoPhillips (COP) up 1.43 at 111.40 – change 1.30%

Diamondback Energy (FANG) up 3.49 at 195.22 – change 1.82%

Energy Transfer LP (ET) up 0.20 at 16.14 – change 1.25%

Enterprise Products Partners (EPD) up 0.20 at 29.29 – change 0.68%

EOG Resources (EOG) up 1.68 at 126.90 – change 1.34%

Exxon Mobil (XOM) up 1.59 at 116.32 – change 1.38%

Kinder Morgan (KMI) up 0.28 at 21.28 – change 1.33%

Marathon Oil Corp. (MRO) up 0.42 at 28.09 – change 1.51%

NOV Inc. (NOV) up 0.54 at 18.00 – change 3.09%

Occidental Petroleum (OXY) up 1.13 at 57.24 – change 2.03%

Phillips 66 (PSX) up 2.21 at 135.37 – change 1.65%

Tellurian Inc. (TELL) up 0.02 at 0.93 – change 2.19%

Valero (VLO) up 2.44 at 145.87 – change 1.70%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.04 at 98.25 – change 0.05%

CenterPoint (CNP) down 0.17 at 26.77 – change 0.64%

Entergy (ETR) unchanged at 118.80 – change 0.00%