Crude prices fell after Gaza ceasefire deal and anticipated end to Houthi attacks in the Red Sea

 

After two days of gains, crude oil prices slipped in Thursday’s trading, mostly because of an anticipated halt in rocket and missile attacks by Yemen’s Houthi militia on ships in the Red Sea.

As Reuters reported, maritime security officials said they were expecting the Houthi militia to announce a halt in its attacks on ships in the Red Sea, after a ceasefire deal in the war in Gaza between Israel and the militant Palestinian group Hamas.

West Texas Intermediate crude, the U.S. benchmark, fell $1.36 or 1.7% to $78.68 a barrel after climbing above the $80 mark for a 3.3% gain on Wednesday on the New York Mercantile Exchange.

Global standard, Brent crude, dropped 74 cents or 0.9% at $81.29 a barrel. It had risen 2.6% in Wednesday’s trading reaching the highest price since late July.

Natural gas prices finished up 17 cents for a 4.29% gain at $4.26.

Oklahoma energy stocks finished split on Thursday.  Matrix Service had the largest gain at nearly 7% while the biggest loss, more than 4%, was incurred by Canoo Inc.

 

Alliance Resource Partners, L.P.
28.04 USD+0.46 
Canoo Inc
1.51 USD−0.070 
Coterra Energy Inc
29.83 USD+0.77 
Devon Energy Corp
38.42 USD−0.010 
Empire Petroleum Corp
6.93 USD−0.070 
Expand Energy Corp
107.78 USD+2.54 
Gulfport Energy Corp
193.39 USD+0.81 
Helmerich and Payne Inc
36.70 USD−0.015 
LSB Industries Inc
9.14 USD−0.0100 
Mach Natural Resources LP
17.61 USD+0.010 
Mammoth Energy Services Inc
3.17 USD−0.11 
Matrix Service Co
14.34 USD+0.91 
NGL Energy Partners LP Unit
5.35 USD−0.040 
OGE Energy Corp
42.37 USD+1.29 
ONE Gas Inc
72.59 USD+1.70 
ONEOK Inc
108.66 USD+1.78 
Ovintiv Inc
45.91 USD+0.17 
PHX Minerals Inc
4.00 USD−0.010 
SandRidge Energy Inc
12.61 USD−0.060 
Unit Corp
29.81 USD−0.16 
Vital Energy Inc
36.53 USD+0.46 
Williams Companies Inc
59.18 USD+1.17