The strife in the Middle East and a poptential peace settlement in Ukraine sent crude oil prices tumbling more than $2 a barrel on Friday and Oklahoma energy stocks followed suit.
Investors also considered the growth of U.S. crude oil stockpiles in what sent prices downward.
West Texas Intermediate crude dropped $2.08 or 2.87% a barrel to close at $70.40 on the New York Mercantile Exchange.
Global benchmark Brent crude fell $2.05 or 2.68% to settle at $74.43 a barrel. For the week, Brent lost 0.4% and U.S. crude futures fell 0.5%.
Most of the Oklahoma energy stocks trading on Friday experienced negative territorty including 7% losses for Vital Energy and Matrix Service Inc.
26.70 USD−0.29 (1.07%)
28.14 USD−0.64 (2.22%)
37.49 USD−1.06 (2.75%)
6.36 USD−0.020 (0.31%)
104.14 USD−2.01 (1.89%)
185.15 USD−6.13 (3.20%)
26.25 USD−0.83 (3.06%)
7.59 USD−0.28 (3.56%)
16.02 USD−0.31 (1.90%)
2.69 USD−0.13 (4.61%)
13.08 USD−0.95 (6.77%)
4.77 USD−0.12 (2.45%)
98.10 USD−0.54 (0.55%)
43.31 USD−2.23 (4.90%)
4.14 USD−0.060 (1.43%)
12.20 USD−0.31 (2.48%)
28.76 USD−2.14 (6.93%)
57.44 USD−1.01 (1.73%)