Nearly all Oklahoma energy stocks were in positive territory Tuesday as crude oil prices rose more than $1 a barrel just one day after they had started the week down.
At least one Oklahoma energy stock gained 10% while others were 6% and 8% higher. The price gains came after new U.S. sanctions against Iran sparked increases in crude oil prices.
West Texas Intermediate crude whose contract for May expired Tuesday, gained $1.23 or 2% to finish the day at $64.32 a barrel on the New York Mercantile Exchange. The more actively traded WTI June contract also gained 2% to settle at $63.47, according to Reuters.
Brent crude, the global standard went up $1.18 or 1.8% and closed at $67.44 per barrel.
Natural gas down 0.01 at $3.01 – change 0.30%
It was a strong performance day for Oklahoma energy stocks as only two firms recorded losses. Mammoth Energy shot up 10% while Empire Petroleum recorded an 8% gain. Devon Energy ended up 6% for the day.
Alliance Resource Partners LP