Trump’s tariff on Venezuelan oil sends crude prices up 1%

The move by President Donald Trump to hit countries that buy oil and gas from Venezuela with a 25% tariff sent crude oil prices up by 1% in Monday’s trading. At the same time, most Oklahoma energy stocks recorded gains of 5% and 6% for the day.

West Texas Intermediate rose 83 cents for a 1.22% gain to settle at $69.11 a barrel on the New York Mercantile Exchange.

Brent crude, the global standard, finished up 94 cents or 1.30% to close at $73.10 a barrel.

Natural gas closed for the day with a 7 cent increase or 1.66% gain to $3.91 per MMBtu.

Monday proved to be a positive day for Oklahoma energy stocks. Matrix Service Co. gained 6% and Vital Energy rose 5% in the day’s trading while others improved their stocks by 2% and 3%.