Crude oil prices plunged nearly 5% in Tuesday’s trading and hit their lowest levels since December of last year and Oklahoma energy stocks suffered losses ranging from 3% to 9%.
What brought down crude to their lowest levels in nearly nine months? Mostly it was because of the dispute that stopped Libyan crude production and exports due to a standoff between political factions over who’s in control of the central bank and oil revenue.
West Texas Intermediate crude dropped $3.21 or 4.4% to $70.34 a barrel on the New York Mercantile Exchange, the lowest level since December.
Brent crude, the global standard, fell $3.77 or 4.9% and settled at $73.75 a barrel, the lowest price since Dec. 12, 2023.
Oklahoma energy stocks suffered in Tuesday’s trading as most recorded losses including Empire Petroleum a more than 9% drop for the day, Vital plunged 7%, LSB Industries dropped 6% and 5% losses were recorded by Mammoth Energy Services and Matrix Service Co.
23.30 USD−0.62
1.56 USD+0.040
72.19 USD−2.30
23.92 USD−0.41
43.02 USD−1.76
5.37 USD−0.54
139.55 USD−5.51
31.75 USD−0.88
7.47 USD−0.46
19.10 USD−0.22
3.62 USD−0.20
9.42 USD−0.54
3.98 USD−0.13
39.70 USD+0.14
69.52 USD+0.58
92.24 USD−0.12
41.31 USD−1.52
3.40 USD−0.060
13.00 USD−0.28
6.17 USD−0.21
32.48 USD−0.57
33.46 USD−2.43
45.55 USD−0.22
Other energy stocks were hurting as well at the end of Tuesday’s trading, according to the Texas Energy Report.
APA Corp. (Apache) (APA) down 1.75 at 26.74 – change 6.15%
Cheniere (LNG) down 2.38 at 182.88 – change 1.29%
Chevron (CVX) down 3.29 at 144.66 – change 2.23%
ConocoPhillips (COP) down 3.94 at 109.85 – change 3.47%
Diamondback Energy (FANG) down 7.63 at 187.48 – change 3.92%
Energy Transfer LP (ET) down 0.08 at 16.03 – change 0.44%
Enterprise Products Partners (EPD) down 0.19 at 29.15 – change 0.65%
EOG Resources (EOG) down 5.19 at 123.63 – change 4.03%
Exxon Mobil (XOM) down 2.46 at 115.48 – change 2.09%
Kinder Morgan (KMI) down 0.01 at 21.56 – change 0.05%
Marathon Oil Corp. (MRO) down 0.94 at 27.71 – change 3.29%
NOV Inc. (NOV) down 0.59 at 17.18 – change 3.33%
Occidental Petroleum (OXY) down 1.58 at 55.40 – change 2.78%
Phillips 66 (PSX) down 5.31 at 135.00 – change 3.79%
Tellurian Inc. (TELL) unchanged at 0.93 – change 0.00%
Valero (VLO) down 5.96 at 141.37 – change 3.66%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.29 at 101.57 – change 1.28%
CenterPoint (CNP) up 0.19 at 27.49 – change 0.69%
Entergy (ETR) up 1.49 at 122.18 – change 1.23%
