Investors will be hoping for improvements in crude oil prices and energy stocks as the new trading week begins. Oil prices closed down 2% on Friday and experienced a big weekly loss. Oklahoma energy stocks also recorded losses on Friday.
Weaker than expected U.S. jobs data in August played a role in the drops.
West Texas Intermediate crude dropkped $1.48 or 2.14% and settled at $67.67 a barrel on the New York Merecantile Exchange—their lowest level since June of 2023. For the week, WTI finished down 8%.
Brent crude finished down $1.63 or 2.24% to $71.06 a barrel on ICE Futures Europe. It was Brent’s lowest level since December 2021. For the week, Brent fell 10%.
Oklahoma energy stocks finished the week with losses…4% for Mach Natural Resources and LSB Industries and 3% for SandRidge Energy and Empire Petroleum, on Friday.
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