Crude oil splits while Trump restores oil pressure on Iran

Trump to Target Iran's Oil Trade in Renewed 'Maximum Pressure' Campaign - GV Wire

 

Crude oil benchmarks went different ways at the end of Tuesday’s trading in the middle of the tariff skirmishes ensued by the Trump administration.

While tariffs against Mexico and Canada were paused for 30 days, the President resumed his first-term pressure on Iran in yet another effort to drive Iranian oil exports to zero. Reuters reported Trump signed the presidential memorandum ahead of his meeting with Israeli Prime Minister Benjamin Netanyahu, ordering the U.S. Treasury secretary to impose “maximum economic pressure” on Iran, including sanctions and enforcement mechanisms.

The Trump administration’s tariff of 10% on Chinese imports also went into effect Tuesday and Beijing responded with its own tariffs against the U.S. At one point U.S. crude prices were down more than 3%.

As a result, global benchmark Brent crude rose 24 cents or 0.32% and settled at $76.20 a barrel.

The US benchmark, West Texas Intermediate crude closed down 46 cents or 0.63% to $72.70 a barrel on the New York Mercantile Exchange.

Natural gas finished down 13 cent for a 3.94% decline to settle at $3.22.

A majority of Oklahoma energy stocks finished in positive territory on Tuesday with Vital Energy jumping more than 6%, Mammoth Energy finishing up 5% and Helmerich & Payne plus Ovintiv more than 4%.

 

Alliance Resource Partners, L.P.
27.98 USD+0.38 
Coterra Energy Inc
28.03 USD−0.010 
Devon Energy Corp
34.42 USD+0.67 
Empire Petroleum Corp
5.93 USD+0.080 
Expand Energy Corp
103.95 USD+1.08 
Gulfport Energy Corp
184.87 USD+3.68 
Helmerich and Payne Inc
32.59 USD+1.39 
LSB Industries Inc
8.50 USD+0.28 
Mach Natural Resources LP
17.45 USD−0.100 
Mammoth Energy Services Inc
3.05 USD+0.15 
Matrix Service Co
14.12 USD+0.52 
NGL Energy Partners LP Unit
5.62 USD+0.21 
OGE Energy Corp
42.37 USD+0.070 
 ONE Gas Inc
70.26 USD−0.57 
ONEOK Inc
97.02 USD−0.64 
Ovintiv Inc
43.71 USD+1.76 
PHX Minerals Inc
3.89 USD+0.13 
SandRidge Energy Inc
12.14 USD+0.23 
Unit Corp
28.42 USD+0.070 
Vital Energy Inc
32.63 USD+1.96 
Williams Companies Inc
55.72 USD−0.48