Monday’s trading resulted in a more than a dollar-a-barrel drop for crude oil prices.
New threats from President Trump for sanctions on countries buying Russian oil led to much of the decline as investors worry the sanctions will affect global supplies. He also announced new weapons for Ukraine while threatening the new sanctions unless Moscow reaches a peace deal in 50 days.
West Texas Intermediate crude dropped $1.47 or 2.15% to $66.98 a barrel on the New York Mercantile Exchange.
Brent crude, the global standard, finished down $1.15 or 1.63% to close at $69.21 a barrel.
Oklahoma energy stocks finished mixed for the day. Stardust Power soared an amazing 88%, nearly doubling the price of its stock. Those firms with sizeable losses included Vital Energy at nearly 6%, and Helmerich & Payne down more than 4%.