While President Trump held talks with China’s leaders, another ship was attacked and another seized by Iran in the Strait of Hormuz, moves that caused only a little movement in crude oil prices.
Iran’s state media claimed nearly 30 ships had been allowed to pass through the strait but the attack that sank one ship left nervous investors wondering about the flow of oil during the war.
Brent crude rose only 9 cents or 0.09% to close at $105.72 a barrel. Earlier in the trading, it had reached a high of $107.13 a barrel. The small gain came after a loss of more than $2 a barrel on Wednesday.
West Texas Intermediate crude gained 15 cents or 0.15% to finish at $101.17 a barrel on the New York Mercantile Exchange. WTI rebounded after falling more than $1 the previous day.
Natural gas prices also recorded a small gain, settling at $2.907 MMBtu with an increase of $0.043 or 1.50%.
All but two of our Oklahoma energy stocks recorded gains on Thursday. NGL Energy Partners led with a more than 4% boost for the day while Matrix Service Co. finished just under 4%.