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China’s decision to relax COVID-19 restrictions sent crude oil prices up in Monday’s trading while Oklahoma energy stocks fell—some as much as 7 and 8%.
West Texas Intermediate crude rose a little more than 1% or 90 cents to $75.19 in trading on the New York Mercantile Exchange.
Brent crude, the global benchmark, gained 76 cents or more than 1% and settled at $79.80 a barrel on ICE Futures Europe.
January natural gas fell more than 11% on a 75 cent drop to $5.85 per 1,000 cubic feet.
Analysts said optimism over China’s COVID moves was far more than the fears of a global recession.
The majority of Oklahoma energy stocks recorded losses for the day, including an 8% fall for PHX Minerals. A nearly 7% tumble was recorded by Empire Petroleum.
Apache (APA) up 0.05 at 43.84 – change 0.11%
Cheniere (LNG) down 5.34 at 152.27 – change 3.39%
Chevron (CVX) up 1.15 at 169.88 – change 0.68%
ConocoPhillips (COP) up 0.03 at 110.41 – change 0.03%
Diamondback Energy (FANG) down 0.74 at 133.58 – change 0.56%
Energy Transfer LP (ET) down 0.10 at 11.56 – change 0.86%
Enterprise Products Partners (EPD) down 0.32 at 23.48 – change 1.35%
EOG Resources (EOG) down 0.24 at 125.53 – change 0.20%
ExxonMobil (XOM) up 0.47 at 105.57 – change 0.44%
Kinder Morgan (KMI) down 0.18 at 17.51 – change 1.02%
Marathon Oil Corp. (MRO) down 0.30 at 27.03 – change 1.10%
NOV Inc. (NOV) down 0.26 at 19.59 – change 1.31%
Occidental Petroleum (OXY) down 0.12 at 62.41 – change 0.20%
Phillips 66 (PSX) down 0.03 at 100.61 – change 0.03%
Pioneer Natural Resources (PXD) down 0.85 at 218.07 – change 0.39%
Tellurian Inc. (TELL) down 0.62 at 1.80 – change 25.62%
Valero (VLO) down 0.34 at 119.71 – change 0.28%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.57 at 94.00 – change 0.61%
CenterPoint (CNP) down 0.03 at 29.98 – change 0.10%
Entergy (ETR) down 1.31 at 113.14 – change 1.15%
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