President Trump’s phone calls with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to end their war sent crude oil prices down more than 2% on Wednesday. Oklahoma energy stocks took the downhill road too.
Trump promised during his campaign to end the war. The fighting between the two countries was responsible for crude oil prices to make gains due to concerns over global supplies.
Global benchmark Brent crude finished down $1.82 or 2.36% at $75.18 a barrel.
US benchmark, West Texas Intermediate crude lost $1.95 or 2.66% and finished at $71.37 a barrel on the New York Mercantile Exchange.
Oil down, natural gas up. Gas prices rose 5 cents for a gain of 1.31% to settle at $3.57.
The day’s events sent nearly all of the Oklahoma energy stocks recording losses for the day. Ovintiv had the biggest percentage drop at 6%
Alliance Resource Partners, L.P.
