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A pledge by China’s President Xi Jinping to promote growth sent crude oil prices up by 2% or more than $1 a barrel on Thursday. Oklahoma energy stocks started the new year in positive territory.
It was the first day for investors in 2025 and they reacted to the pledge with optimism. Reuters reported Xi said in his New Year’s address on Tuesday that China would implement more proactive policies to promote growth in 2025.
West Texas Intermediate crude rose $1.41 or 2% to close at $73.13 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude increased $1.29 or 1.7% and finished at $75.93 a barrel.
Natural gas finished up 2 cents or 0.41% to reach $3.65 per MMbtu.
Natural gas up 0.02 at $3.65 – change 0.41%
Oklahoma energy stocks started the first trading day of 2025 in the US with gains. NGL Energy Partners rose 4% for the day while Helmerich & Payne had a strong 3% boost.
