Weekly Trading Results Show Strong Gains
Crude oil prices finished the week’s trading with a small loss, but despite the decline, prices still ended the week more than 7% higher. It proved to be the largest weekly gain since the middle of June.
Analysts explained Friday’s drop on skepticism, which they believe entered the market as some investors are wondering about the Trump administration’s commitment to the sanctions on Russian oil.
Sanctions Impact and Market Reactions
Brent crude futures settled 5 cents, or 0.1%, lower at $65.94 a barrel, while U.S. crude futures (CLc1) finished at $61.50 a barrel, down 29 cents, or 0.5%.
It was Thursday when President Trump ordered tougher sanctions on Russia’s Rosneft and Lukoil with sanctions to pressure Russian President Vladimir Putin to end the Ukraine war. The two companies account for at least 5% of global oil output, helping make Russia the second biggest crude oil producer in the oil as of 2024.
Natural Gas and Oklahoma Energy Stocks
Natural gas prices rebounded Friday with a slight gain, settling at $3.356 MMBtu after rising $0.012 for a 0.36% increase.
A majority of Oklahoma energy stocks finished down on Friday, including a more than 4% loss for Alliance Resource Partners LP. Williams Cos., which lost 5% on Thursday, fell another 2% on Friday. Stardust Power advanced more than 3%, the largest percentage gain of the day for the Oklahoma energy stocks we follow.