Crude oil prices slipped into negative arenas on Thursday after the International Energy Agency raised its oil demand growth forecast for 2025.
Other possible affects were caused by a slight increase in US inflation for November and a jump in China crude imports in November compared to a year earlier.
West Texas Intermediate crude fell 24 cents or 0.34% to $70.05 a barrel on the New York Mercantile Exchange.
Brent crude for the February contract dropped 9 cents or 0.12% to close at $73.43 a barrel.
While oil prices slumped, natural gas prices rose 8 cents for a 2.28% gain to $3.46 per Mcf.
A majority of Oklahoma energy stocks were in negative territory on Thursday. Two firms with the biggest percentage losses were Mammoth Energy at more than 6% and Empire Petroleum more than 4%. After a few days of significant losses of more than 20%, Canoo, the EV maker recorded a nearly 35% gain for the day.
