On Monday, crude oil prices fell below $94.00 a barrel as China’s economic growth slowed in the last quarter. , China's National Bureau of Statistics reported its economy grew 7.7 percent in the fourth quarter of 2013, slightly lower than the 7.8 percent seen in the previous quarter. Additionally, Libyan officials have stated that they expect to regain control of oil facilities in the east which would add to global stockpiles and increase downward pressure on oil prices. "The prospect of a growing oil supply is continuing to weigh on prices," said a research note from Commerzbank in Frankfurt. "Any seizure of the oil terminals by force would mean escalating the crisis and make it more difficult — if not impossible — to find any permanent solution to it."
Cobalt International Energy, Inc. (NYSE: CIE) shares traded in the range of $16.25 to $16.66 Friday before settling to close at $16.52, an increase of 0.36 percent. The stock appears to be facing some resistance at the $18.24 and $20.09 levels with some support at $16.36. Shares of Cobalt International Energy have fallen approximately 33.0 percent in the past year.
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Denbury Resources Inc. (NYSE: DNR) shares traded in the range of $16.25 to $16.59 Friday before settling to close at $16.26, a decrease of 1.22 percent. The stock appears to be facing some resistance at the $16.37 and $16.80 levels with some support at $15.98. Shares of Denbury Resources have fallen approximately 10.0 percent in the past year.
More information on Denbury Resources and access to the free equity report can be found at:
Forest Oil Corporation (NYSE: FST) shares traded in the range of $3.27 to $3.44 Friday before settling to close at $3.28, a decrease of 3.24 percent. The stock appears to be facing some resistance at the $3.46, $3.73 and $3.88 levels. Shares of Forest Oil have fallen approximately 50.0 percent in the past year.
More information on Forest Oil and access to the free equity report can be found at:
Pengrowth Energy Corp. (NYSE: PGH)(TSX: PGF) shares traded in the range of $6.21 to $6.55 Friday before settling to close at $6.53, an increase of 5.66 percent. The stock appears to be facing some resistance at $6.94 with some support at the $6.47 and $6.16 levels. Shares of Pengrowth Energy have gained approximately 33.0 percent in the past year.
More information on Pengrowth Energy and access to the free equity report can be found at:
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