Crude oil, gas and OK energy stocks suffered more losses Thursday

Another day and another drop in crude oil prices. This time, it was a 1% drop and the fall came after news that President Trump said he will meet soon with Russia’s Vladimir Putin in Hungary to talk about ending the war in Ukraine.

Any talk of an end to the war creates uncertainty about global energy supuplies and it’s what happened Thursday. The date of the summit was not provided.

Global benchmark Brent crude futures settled 85 cents, or 1.37%, lower at $61.06 a barrel. U.S. West Texas Intermediate futures closed 81 cents, or 1.39%, lower at $57.46. Those were the lowest settlements for both benchmarks since May 5.

Natural gas prices took a drop too, falling nearly 3% for the day, settling at $2.930 MMBtu after a decline of $0.086 or 2.85%.

It was another negative day for Oklahoma energy stocks as some suffered some major declines in the values of their stocks. For instance, Stardust Power dropped 14% and Empire Petroleum took a 10% hit for the day. Expand Energy finished down more than 4%.