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:
Anadarko Petroleum Corporation (NYSE: APC) shares traded in the range of $90.19 to $91.92 Tuesday before settling to close at $90.88, a decrease of 0.15 percent. The stock appears to be facing some resistance at the $91.49 and $92.85 levels with some support at $89.46. Shares of Anadarko Petroleum have gained approximately 6.0 percent in 2013.
More information on Anadarko Petroleum and access to the free equity report can be found at:
www.WallStreetFundamentals.com/APC
Key Energy Services, Inc. (NYSE: KEG) shares traded in the range of $6.68 to $6.90 Tuesday before settling to close at $6.83, a decrease of 1.59 percent. The stock appears to be facing some resistance at the $7.15 and $7.37 levels with some support at $6.75. Shares of Key Energy Services have fallen approximately 1.7 percent year-to-date.
More information on Key Energy Services and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KEG
Marathon Oil Corporation (NYSE: MRO) shares traded in the range of $32.83 to $33.75 Tuesday before settling to close at $33.38, an increase of 0.18 percent. The stock appears to be facing some resistance at the $33.92 and $34.82 levels with some support at $33.34. Shares of Marathon Oil have gained approximately 8.8 percent year-to-date.
More information on Marathon Oil and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MRO
Whiting Petroleum Corp. (NYSE: WLL) shares traded in the range of $50.20 to $51.63 Tuesday before settling to close at $50.61, a decrease of 0.47 percent. The stock appears to be facing some resistance at the $51.12 and $51.94 levels with some support at $50.20. Shares of Whiting Petroleum have gained approximately 16.0 percent in 2013.
More information on Whiting Petroleum and access to the free equity report can be found at:
www.WallStreetFundamentals.com/WLL
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