Monday was a day of falling prices—-crude oil, natural gas and Oklahoma energy stocks.
Crude oil because of disruptions tied to the growing U.S. and Venezuelan tensions and the impact of a potential Russia-Ukraine peace deal. Venezuela’s oil exports have fallen sharply since the U.S. seized a tanker last week and imposed fresh sanctions on shipping companies and vessels doing business with the Latin American oil producer, according to shipping data, documents and maritime sources.
Both contracts slid more than 4% last week.
West Texas Intermediate crude finished down 62 cents or 1.08% at $56.82 a barrel on the New York Mercantile Exchange.
Brent crude fell 56 cents or 0.92% and closed at $60.56 a barrel.
Natural gas prices continued their fall on Monday with a drop of more than 2%, settling at $4.013 MMBtu after a decline of $0.100 or 2.43%.
All but four of our Oklahoma energy stocks finished the day in negative territory with Stardust Power plummeting more than 9%. Devon Energy dropped 3% while NGL Energy Partners rose 3%.