The first public trading of crude oil following the weekend capture of Venezuelan dictator Nicolas Maduro by U.S. troops prompted a $1 a barrel gain for crude oil prices. But natural gas dropped nearly 10% and Oklahoma energy stocks recorded mostly losses for the day.
Investors considered the impact of Maduro’s capture as leader of the country with the world’s largest oil reserves and the fact the U.S. will take control of the OPEC member. Reuters reported the Trump administration did not consult with oil companies Exxon Mobil ConocoPhillips or Chevron Corp about Venezuela before or after U.S. forces captured Maduro, according to four oil industry executives familiar with the matter, but meetings are now planned for later this week.
Brent crude futures settled up $1.01 or 1.66%, at $61.76 a barrel . U.S. West Texas Intermediate crude settled up $1 or 1.74%, to $58.32 on the New York Mercantile Exchange.
Natural gas prices took a nearly 10% drop in Monday’s trading. Prices fell $0.383 or 9.84% to settle at $3.511 MMBtu.
Monday proved to be a down day for most Oklahoma energy stocks and Gulfport Energy led those with losses after a nearly 9% fall for the day. SandRidge Energy dropped more than 5%.
Of those with gains, Matrix Service Co. jumped 5% and Stardust Power did the same.