PEMA Professional Energy Marketers Association
Crude oil prices dropped Thursday to six-month lows as global benchmark Brent crude fell closer to $70 a barrel rather than $80. Investors are reported to be worried about sluggish energy demand in the US and China, even though output in this country is near record highs.
Brent dropped 25 cents and settled at $74.05 a barrel on ICE Futures Europe.
US benchmark West Texas Intermediate crude slipped 4 cents to $69.34 a barrel on the New York Mercantile Exchange.
Both Brent and WTI are at their lowest levels since late June.
January natural gas rose 2 cents to $2.59 per 1,000 cubic feet.
Losses ruled the day for Oklahoma energy stocks with PHX Minerals dropping nearly 3%. But at least a few firms recorded gains…nearly 4% for LSB Industries, 3% for Mammoth Energy and 2% for NGL Energy Partners.
Alliance Resource Partners, L.P.
The post Thursday brought more falling crude oil prices and they’re down to a six-month low first appeared on Oklahoma Energy Today.
