Trump’s energy emergency declaration sent crude prices down on Tuesday

 

A day after President Trump declared a national energy emergency, crude oil prices reacted Tuesday by falling 1% internationally and nearly 3% in the U.S.

The declaration is part of Trump’s plan to boost domestic production and at the same time, Macquarie predicts a larger drawdown in weekly domestic supplies.

West Texas Intermediate for February delivery fell $1.99 or 2.6% to $75.89 on the New York Mercantile Exchange.

Brent crude futures finished down 86 cents or 1.1% to $79.29 per barrel.

Natural gas prices closed down 19 cents or 4.86% to $3.76.

As for Oklahoma energy stocks, they split the day. Bankrupt Canoo led the way with a 73% fall in shares followed by Devon Energy with a more than 3% tumble and Unit Corporation recording a nearly 4% drop on Tuesday.

Alliance Resource Partners, L.P.
28.43 USD+0.57 
Canoo Inc
0.37 USD−0.98 
Coterra Energy Inc
29.15 USD−0.32 
Devon Energy Corp
36.73 USD−1.22 
Empire Petroleum Corp
6.67 USD+0.050 
Expand Energy Corp
106.80 USD+0.44 
Gulfport Energy Corp
196.29 USD+1.17 
Helmerich and Payne Inc
36.38 USD+0.010 
LSB Industries Inc
9.31 USD+0.24 
Mach Natural Resources LP
17.84 USD+0.19 
Mammoth Energy Services Inc
3.42 USD+0.085 
Matrix Service Co
15.26 USD+0.38 
NGL Energy Partners LP Unit
5.36 USD+0.100 
OGE Energy Corp
43.36 USD+0.79 
ONE Gas Inc
72.16 USD−0.59 
ONEOK Inc
109.84 USD+0.88 
Ovintiv Inc
45.42 USD−0.32 
PHX Minerals Inc
3.99 USD−0.065 
SandRidge Energy Inc
12.38 USD−0.095 
Unit Corp
29.56 USD−1.20 
Vital Energy Inc
34.67 USD−1.27 
Williams Companies Inc
60.63 USD+1.49