News from the Peoples Bank of China that a package of measures are aimed at boosting the country’s economy helped oil prices advance Monday.
West Texas Intermediate crude increased by 1.7% to settle at $71.56 a barrel.
Brent crude for November also added 1.7% to settle at $75.17 a barrel.
The price moves were supported by signs that algorithm-based traders were unwinding bearish positions, according to RigZone.com.
The Chinese banking moves are that country’s strongest effort to hit this year’s annual growth target. Concerns about the Chinese economy have been a major factor in oil prices falling by about 12% this quarter.
Oklahoma results for Tuesday:
Alliance Resource Partners, L.P.
24.56 USD +0.37 (+1.53%)
Canoo Inc
0.94 USD -0.04 (-3.62%)
Chesapeake Energy Corp
80.09 USD -0.17 (-0.21%)
Coterra Energy Inc
23.76 USD -0.22 (-0.92%)
Devon Energy Corp
41.01 USD -0.11 (-0.27%)
Empire Petroleum Corp
4.95 USD -0.03 (-0.06%)
Gulfport Energy Corp
149.90 USD -1.10 (-0.73%)
Helmerich and Payne Inc
32.86 USD -0.13 (-0.39%)
LSB Industries Inc
7.89 USD +0.26 (+3.41%)
Mach Natural Resources LP
16.35 USD -0.17 (-1.03%)
Mammoth Energy Services Inc
3.99 USD +0.00 (+0.00%)
Matrix Service Co
11.51 USD +0.09 (+0.79%)
NGL Energy Partners LP
4.91 USD -0.08 (-1.60%)
OGE Energy Corp
40.77 USD -0.22 (-0.54%)
ONE Gas Inc
74.24 USD -0.05 (-0.07%)
ONEOK Inc
95.23 USD -0.04 (-0.04%)
Ovintiv Inc
40.70 USD -0.52 (-1.26%)
PHX Minerals Inc
3.41 USD +0.01 (+0.29%)
SandRidge Energy Inc
12.17 USD +0.05 (+0.41%)
Southwestern Energy Co
6.86 USD -0.02 (-0.29%)
Unit Corp
31.35 USD +0.16 (+0.51%)
Vital Energy Inc
29.53 USD -0.72 (-2.38%)
Williams Companies Inc
46.03 USD -0.19 (-0.41%)