Oil, gas and OK energy stocks made gains on Tuesday

Crude oil, natural gas and Oklahoma energy stocks recorded gains in Tuesday’s trading, the result in part because of optimism about the potential end to a U.S. government shutdown along with the impact of the latest U.S. sanctions on Russian oil.

Russia’s Lukoil declared force majeure at an Iraqi oilfield it operates, sources told Reuters on Monday, marking the biggest fallout yet from the sanctions imposed last month.

Some Oklahoma energy stocks soared higher as much as 8%.

Brent crude futures settled $1.10, or 1.72%, higher to $65.16 a barrel. U.S. West Texas Intermediate crude climbed 91 cents, or 1.51%, to settle at $61.04 a barrel on the New York Mercantile Exchange.

Natural gas prices also rose in Tuesday’s trading, reaching $4.565 MMBtu after a gain of $0.227 or 5.23%.

Most Oklahoma energy stocks recorded gains on Tuesday with Vital Energy topping the list at a strong 8%. LSB Industries had a more than 6% increase for the day.

On the other end of the spectrum,  Stardust Power experienced a 13% drop in the value of its shares.