For a second straight session this week, crude oil prices finished lower in trading. Plus, Oklahoma energy stocks finished deep in negative territory.
Analysts explained it was a sign the market is ignoring President Trump’s threats of more sanctions against Russia and countries that buy oil from it.
West Texas Intermediate crude fell 0.7% to close at $66.52 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude finished down 0.7% and closed at $68.71 a barrel on Tuesday.
How bad was the trading for Oklahoma energy stocks? Pretty bad. Only two of the energy stocks we follow on a daily basis showed a gain of any kind. All of the others recorded losses such as the 13% drop for Stardust Power and 6% falls for Vital Energy, Empire Petroleum, and Helmerich & Payne.