Oil futures settled at a one-month high Tuesday as the government forecasted lower-than-expect production numbers for 2014 and 2015. Light, sweet crude for May delivery closed at $102.56 a barrel on the New York Mercantile Exchange. The U.S. Energy Information Administration expects to U.S. to produce 8.37 million barrels a day of crude oil in 2014, down from its previous forecast of 8.39 million barrels a day. Here is how some Oil & Gas stocks reacted Tuesday:
Basic Energy Services, Inc. (NYSE: BAS) shares traded in the range of $25.60 to $27.00 Tuesday before settling to close at $26.88, an increase of 6.92 percent. The stock appears to be facing some resistance at the $27.66 and $28.91 levels with some support at $26.17 and $24.03. Shares of Basic Energy Services are up approximately 70.0 percent year-to-date.
More information on Basic Energy Services and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BAS
Gran Tierra Energy Inc. (NYSEMKT: GTE) shares traded in the range of $7.16 to $7.50 Tuesday before settling to close at $7.50, an increase of 4.90 percent. The stock appears to be facing some resistance at the $7.51 and $7.56 levels with some support at $7.34 and $7.12. Shares of Gran Tierra Energy have gained approximately 3.0 percent year-to-date.
More information on Gran Tierra Energy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GTE
Swift Energy Company (NYSE: SFY) shares traded in the range of $10.31 to $10.79 Tuesday before settling to close at $10.72, an increase of 4.48 percent. The stock appears to be facing some resistance at the $10.81 and $11.05 levels with some support at $10.56 and $10.20. Shares of Swift Energy are down approximately 20.0 percent year-to-date.
More information on Swift Energy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SFY
Triangle Petroleum Corporation (NYSEMKT: TPLM) shares traded in the range of $8.02 to $8.47 Tuesday before settling to close at $8.42, an increase of 4.99 percent. The stock appears to be facing some resistance at the $8.69 and $8.99 levels with some support at $8.32 and $7.85. Shares of Triangle Petroleum are up approximately 34.0 percent year-to-date.
More information on Triangle Petroleum and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TPLM
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