Crude oil prices will start the new week after closing on Friday with losses. Oklahoma energy stocks also finished in negative territory.
What prompted the fall in oil prices? The U.S. sanctions against Russia left supplies tight in Europe, India and China and left investors and traders worried about supply disruptions.
West Texas Intermediate crude dropped 80 cents or 1% to close at $77.88 a barrel on the New York Mercantile Exchange. Despite the Friday fall, WTI still finished up 1.7% for the week.
Brent crude, the global benchmark, slipped 50 cents or 0.6% and finished at $80.79 per barrel. It too closed the week up 1.3%.
Natural gas dropped 31 cents for a 7.28% loss to $3.95.
A day of losses—it’s what Oklahoma energy stocks suffered on Friday.
Canoo dropped a whopping 11% and Empire Petroleum fell more than 4%.