Crude oil futures finished down on Monday with word that OPEC+ might increase its output in August. Plus, investors didn’t have as many concerns about Middle East risks as things have quieted down somewhat between Israel and Iran.
The 12-days of exchanging bombs and missiles initially sent crude oil prices to more than $80 a barrel before they returned to $67.
Still, crude oil had their biggest weekly declines since March of 2023 last week. For the month, prices gained 6% and 7%.
Global benchmark Brent futures finished down 16 cents or 0.2% to $67.61 a barrel.
West Texas Intermediate crude finished down 41 cents or 0.6% to $65.11 a barrel on the New York Mercantile Exchange.
Monday brought another round of losses for many Oklahoma energy stocks.
Empire Energy led with a 4% drop and Vital Energy followed with a 3% loss for the day.
Alliance Resource Partners LP
25.38 USD−0.22 (0.86%)
31.81 USD−0.43 (1.32%)
5.28 USD−0.24 (4.35%)
116.94 USD−2.02 (1.70%)
201.17 USD−3.43 (1.68%)
15.16 USD−0.24 (1.56%)
7.80 USD−0.060 (0.76%)
Mach Natural Resources LP
14.44 USD−0.020 (0.14%)
Mammoth Energy Services Inc
2.80 USD−0.080 (2.78%)
13.51 USD−0.39 (2.81%)
NGL Energy Partners LP Unit
4.27 USD−0.065 (1.50%)
38.05 USD−0.36 (0.94%)
10.82 USD−0.28 (2.52%)
0.20 USD−0.0010 (0.51%)
16.09 USD−0.45 (2.72%)