Crude oil prices and OK energy stocks tumbled Monday

Global Tensions and Economic Concerns Pressure Energy Markets

Growing pessimism over global supply and demand sent crude oil prices slipping in Monday’s trading session. Analysts pointed to a mix of geopolitical tensions, sanctions, and economic strain as the leading factors behind the market’s downturn.

The continued war between Russia and Ukraine, coupled with U.S. sanctions against Russia and rising friction between the U.S. and Venezuela, deepened investor unease. The combination of these factors contributed to renewed volatility in global energy markets.

Crude Prices Slide on Market Uncertainty

WTI and Brent Both Close Lower

On the New York Mercantile Exchange, West Texas Intermediate (WTI) crude fell 63 cents to settle at $59.46 a barrel.

Brent crude, the global benchmark, matched that drop—closing 63 cents lower at $63.76 a barrel.

Energy analysts said the declines reflect investor uncertainty about future demand growth amid persistent geopolitical conflict and questions surrounding the effectiveness of sanctions in stabilizing supply flows.

Natural Gas Drops More Than 5%

Natural gas prices also tumbled, falling 5.15% to $4.331 per MMBtu, a drop of $0.235 from the previous session.

The decline was attributed to milder weather forecasts, strong storage levels, and softening industrial demand, all of which placed downward pressure on prices heading into mid-November.

Oklahoma Energy Stocks Close Mostly Lower

Stardust Power Leads Declines

Oklahoma-based energy companies followed the broader market downtrend.

• Stardust Power recorded a 12% loss for the day.

• Mammoth Energy Services and Matrix Services each dropped 5%.

Only a handful of local stocks managed to remain in positive territory, underscoring the broader weakness across the Oklahoma energy sector.

Market watchers expect volatility to continue this week as traders weigh production data, global demand signals, and geopolitical risk factors.

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