On Tuesday, oil prices dropped below $103 a barrel for the first time since the beginning of August as tensions between the U.S. and the Middle East eased. "Supply-side concerns appear be diminishing. A military action against Syria looks increasingly unlikely, while the new Iranian president has signaled his willingness to negotiate over Tehran's nuclear program," said Fawad Razaqzada, Technical Analyst at GFT Global Markets. According to Commerzbank analysts, Iran is looking to have Western sanctions eased, which have cause Iran’s oil exports to fall from 2.5 million barrels in 2011 to 1.2 million.
Goodrich Petroleum Corporation (NYSE: GDP) shares traded in the range of $24.16 to $25.78 Tuesday before settling to close at $24.29, a decrease of 5.01 percent. The stock appears to be facing some resistance at the $25.17 and $27.32 levels with some support at $24.03. Shares of Goodrich Petroleum have gained approximately 160.0 percent in 2013.
More information on Goodrich Petroleum and access to the free equity report can be found at:
Petroquest Energy Inc. (NYSE: PQ) shares traded in the range of $4.00 to $4.08 Tuesday before settling to close at $4.02, a decrease of 1.47 percent. The stock appears to be facing some resistance at the $4.05 and $4.09 levels with some support at $4.01. Shares of Petroquest Energy have fallen approximately 18.0 percent year-to-date.
More information on Petroquest Energy and access to the free equity report can be found at:
Suncor Energy Inc. (NYSE: SU)(TSX: SU) shares traded in the range of $35.55 to $36.00 Tuesday before settling to close at $35.56, a decrease of 1.55 percent. The stock appears to be facing some resistance at $37.21 with some support at the $34.99 and $33.86 levels. Shares of Suncor Energy have gained approximately 7.8 percent in 2013.
More information on Suncor Energy and access to the free equity report can be found at:
Triangle Petroleum Corporation (NYSEMKT: TPLM) shares traded in the range of $9.41 to $9.79 Tuesday before settling to close at $9.46, a decrease of 2.37 percent. The stock appears to be facing some resistance at $9.98 with some support at the $8.96 and $7.76 levels. Shares of Triangle Petroleum have gained approximately 58.0 percent in 2013.
More information on Triangle Petroleum and access to the free equity report can be found at:
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