Energy stocks in Oklahoma slipped Wednesday and crude oil prices did the same as OPEC+ indicated it might speed up its oil output increases in June. As a result, it has been an up and down week for oil prices.
But analysts indicated the losses weren’t as great after President Trump hinted he might reduce the tariffs on Chinese imports.
West Texas Intermediate crude fell $1.40 or 2.2% to finish the day at $62.27 a barrel on the New York Mercantile Exchange.
Brent crude closed down $1.32 or 1.96% at $66.12 a barrel. Earlier in the day, Brent hit a session high of $68.65, the highest mark since April 4.
Natural gas prices rose 2 cents for a 0.50% gain to $3.02 per MMBtu.
Oklahoma energy stocks split, just a day after nearly every one of them had recorded gains on Tuesday. Four percent gains were recorded by Matrix Services and NGL Energy Partners. Stardust Power finished with a 4% loss for the day.
