Oil futures reached an eighteen-month high Tuesday as concerns of a potential military strike in Syria has raised supply concerns. October crude futures closed at $109.01 a barrel on the New York Mercantile Exchange, while Brent futures gained 3.2 percent to close at $114.28. Although Syria is not considered a major oil producer, it is located near major pipelines and sea routes. "This is the largest geo-political risk since the start of the Iraq war," said Mike O'Rourke, chief market strategist at US-based Jones Trading. Here is how some Energy stocks reacted Wednesday:
Bill Barrett Corporation (NYSE: BBG) shares traded in the range of $21.33 to $21.95 Tuesday before settling to close at $21.69, an increase of 0.14 percent. The stock appears to be facing some resistance at the $21.76 and $22.58 levels with some support at $21.19. Shares of Bill Barrett have gained approximately 22.0 percent in 2013.
More information on Bill Barrett and access to the free equity report can be found at:
Gulfport Energy Corporation (NASDAQ: GPOR) shares traded in the range of $57.30 to $58.53 Tuesday before settling to close at $57.42, a decrease of 0.31 percent. The stock appears to have some support at the $57.21, $55.06 and $53.96 levels. Shares of Gulfport Energy have gained approximately 50.0 percent year-to-date.
More information on Gulfport Energy and access to the free equity report can be found at:
Nabors Industries Ltd. (NYSE: NBR) shares traded in the range of $15.38 to $15.77 Tuesday before settling to close at $15.38, a decrease of 2.84 percent. The stock appears to be facing some resistance at the $15.59 and $15.99 levels with some support at $14.86. Shares of Nabors Industries have gained approximately 6.0 percent in 2013.
More information on Nabors Industries and access to the free equity report can be found at:
Seadrill Ltd. (NYSE: SDRL) shares traded in the range of $43.72 to $44.25 Tuesday before settling to close at $43.73, a decrease of 0.52 percent. The stock appears to be facing some resistance at the $43.77 and $45.38 levels with some support at $42.10. Shares of Seadrill have gained approximately 18.0 percent in 2013.
More information on Seadrill and access to the free equity report can be found at:
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