Tuesday , May 14 2024

$1 a barrel tumble by crude oil prices

 

Growing U.S. oil inventories sent crude oil prices sliding by a dollar a barrel in Wednesday’s trading. Investors fear the growing crude inventory could result in less demand for oil in the nation.

West Texas Intermediate, the US benchmark, dropped $1.23 or 1.6% to settle at $76.64 a barrel on the New York Mercantile Exchange.
Brent crude, the world benchmark, fell $1.17 or 1.4% per barrel and finished at $81.60 on ICE Futures Europe.
Reuters reported U.S. crude inventories jumped by 12 million barrels to 439.5 million barrels last week, the Energy Information Administration said, far exceeding analysts’ expectations in a Reuters poll for a 2.6 million-barrel rise as refining dropped to its lowest levels since December 2022.
March natural gas fell 8 cents to $1.69 per 1,000 cubic feet.
Oklahoma energy stocks ended up mixed for the day as some like Mammoth Energy Services gained 6% while Mach Natural Resources and Williams Cos. fell 3%.
Alliance Resource Partners, L.P.
19.75 USD−0.15 
Canoo Inc
0.14 USD−0.0024 
Chesapeake Energy Ord Shs
75.85 USD−0.58 
Coterra Energy Inc
23.91 USD−0.17 
Devon Energy Corp
41.84 USD−0.060 
 Empire Petroleum Corp
6.13 USD+0.18 
Gulfport Energy Corp
128.50 USD+1.52 
Helmerich and Payne Inc
36.93 USD+0.46 
LSB Industries Inc
7.75 USD+0.030 
Mach Natural Resources LP
17.14 USD−0.54 
Mammoth Energy Services Inc
3.60 USD+0.19 
Matrix Service Co
11.92 USD−0.15 
NGL Energy Partners Shs Unit Class B
31.97 USD−0.090 
OGE Energy Corp
32.44 USD+0.13 
ONE Gas Inc
59.82 USD+0.66 
ONEOK Inc
69.11 USD−0.37 
Ovintiv Inc
42.40 USD+0.32 
PHX Minerals Inc
3.04 USD+0.040 
SandRidge Energy Inc
12.29 USD+0.060 
Southwestern Energy Co
6.34 USD−0.060 
Unit Corp
43.15 USD+0.75 
Vital Energy Inc
43.92 USD+0.27 
Williams Companies Inc
33.05 USD−0.99 
It was a mixed day of trading for others too, according to the Texas Energy Report.

APA Corp. (Apache) (APA) up 0.17 at 29.80 – change 0.57%

Cheniere (LNG) down 1.89 at 155.59 – change 1.21%

Chevron (CVX) up 0.41 at 151.01 – change 0.27%

ConocoPhillips (COP) up 0.35 at 110.12 – change 0.31%

Diamondback Energy (FANG) up 4.26 at 169.86 – change 2.57%

Energy Transfer LP (ET) up 0.15 at 14.11 – change 1.07%

Enterprise Products Partners (EPD) up 0.30 at 26.69 – change 1.13%

EOG Resources (EOG) down 0.02 at 111.01 – change 0.02%

Exxon Mobil (XOM) down 0.50 at 100.84 – change 0.50%

Kinder Morgan (KMI) unchanged at 16.57 – change 0.00%

Marathon Oil Corp. (MRO) up 0.06 at 22.39 – change 0.26%

NOV Inc. (NOV) up 0.28 at 17.28 – change 1.64%

Occidental Petroleum (OXY) down 0.31 at 57.30 – change 0.54%

Phillips 66 (PSX) up 0.05 at 145.21 – change 0.03%

Pioneer Natural Resources (PXD) down 1.46 at 225.35 – change 0.65%

Tellurian Inc. (TELL) up 0.07 at 0.70 – change 11.83%

Valero (VLO) down 0.53 at 141.04 – change 0.38%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.02 at 78.80 – change 0.02%

CenterPoint (CNP) up 0.11 at 27.35 – change 0.40%

Entergy (ETR) down 0.17 at 98.08 – change 0.18%

The post $1 a barrel tumble by crude oil prices first appeared on Oklahoma Energy Today.

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