While crude oil prices fell less than half-a-percent on Monday, Oklahoma energy stocks recorded a day with gains.
Trading was reported to be “thin” ahead of the Christmas holiday, according to Reuters which reported there remain concerns about a supply surplus in the coming year. Some analysts predict such a surplus will hold Brent prices to an average of $70.50 a barrel, down from the average this year of $79.64.
US benchmark, West Texas Intermediate crude eased down 22 cents or 0.32% to $69.24 a barrel on the New York Mercantile Exchange.
Global standard Brent crude slid 31 cents or 0.43% and finished the trading day at $72.63 a barrel.
Oklahoma energy stocks recorded more gains than losses on Monday. Empire Petroleum had a more than 3% gain for the day. Of the few firms with losses, the biggest, nearly 8%, was Canoo.