Oklahoma’s oil and gas regulator plans to shut some disposal wells and reduce the volume of others as its initial response to Sunday’s earthquake near the oil hub of Cushing. “Other plans are being developed that will encompass larger areas” and more details are coming tomorrow, the Oklahoma Corporation Commission said Monday in an e-mailed advisory. The commission said the plan covered 700 square miles. It didn’t say how many wells were affected. When a quake of similar magnitude hit the state in September, the agency ordered 37 wells shut in a 500-square-mile area. The commission in 2015 established a “volume reduction area” covering 11,000 square miles, or about one-sixth of the state. Cushing is the delivery point for West Texas Intermediate crude futures. WTI for December delivery rose 82 cents to settle at $44.89 a barrel on the New York Mercantile Exchange. “It’s definitely a long-term negative development […]