Crude Oil Prices Edge Lower

Source: UPI (4/19/11)

"Oil dropped under $107/barrel as the People's Bank of China moved to tighten lending."

Crude oil prices edged lower Tuesday morning in New York, dropping under $107 per barrel as the People's Bank of China moved to tighten lending.

China's central bank said it would raise the reserve requirements for lenders in the latest of a series of steps meant to curb inflation.

Oil traders also reacted to Monday's report from Standard & Poor's that lowered the U.S. credit rating from AAA with a stable outlook to AAA with a negative outlook, warning that lawmakers in Washington were unlikely to make substantial progress on the U.S. deficit until after the 2012 national election.

On the New York Mercantile Exchange, May delivery West Texas Intermediate crude oil shed 45 cents to $106.67 per barrel. Home heating oil lost 4.63 cents to $3.1365 per gallon. Reformulated blendstock gasoline lost 4.88 cents to $3.204 per gallon.

Henry Hub natural gas prices headed higher, adding 7.9 cents to $4.217 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.835 per gallon from Monday's $3.833, AAA said.

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.