Hurricane Milton’s strike on Florida sent crude oil prices up nearly 4% on Thursday while at the same time worries grew about Middle East oil supplies. The day’s trading also saw many Oklahoma energy stocks recording losses for the day.
Investors and analysts say there is still major concerns that demand for energy might grow in the U.S. and China. In Florida, nearly a quarter of the gas stations were out of fuel and power was lost to 3.4 million homes and businesses.
West Texas Intermediate crude went up $2.61 or 3.6% and settled at $75.85 a barrel on the New York Mercantile Exchange.
Brent crude, the global benchmark, grew $2.82 or 3.7% per barrel to close at $79.40 a barrel on ICE Futures Europe.
A majority of Oklahoma energy stocks experienced losses in Thursday’s trading. Still, one company, LSB Industries, recorded a monster gain of nearly 15%.
I
25.24 USD−0.010
0.93 USD−0.026
24.51 USD+0.15
42.87 USD+0.93
5.10 USD−0.060
86.61 USD−0.42
149.48 USD+1.54
35.14 USD+0.60
9.55 USD+1.21
16.83 USD−0.070
4.66 USD−0.10
11.37 USD−0.020
4.75 USD−0.055
39.65 USD−0.30
70.80 USD−0.61
94.69 USD−0.060
42.78 USD+0.69
3.47 USD0.00
12.37 USD−0.040
32.89 USD+0.41
29.67 USD+0.61
49.47 USD−0.11