Oil Up Past $96 on Higher Price Forecast

Source: Associated Press, Pablo Gorondi and Alex Kennedy (7/5/11)

"Oil prices bounced back."

Associated Press, Pablo Gorondi and Alex Kennedy

Oil prices bounced back above $95 a barrel Tuesday on the back of forecasts for more expensive crude in 2012, though gains were limited by the dollar's rise and doubts about global demand.

By early afternoon in Europe, benchmark oil for August delivery was up 51 cents to $95.45 a barrel in electronic trading on the New York Mercantile Exchange. Crude last settled down 48 cents at $94.94 on Friday. Financial markets in the U.S. were closed Monday for the Independence Day holiday.

In London, Brent crude for August delivery added 89 cents to $112.28 a barrel on the ICE Futures exchange.

Weighing on oil prices was a stronger U.S. dollar, which makes crude more expensive for investors with other currencies.

The euro fell to $1.4468 Tuesday from $1.4541 late Monday while the dollar rose to 81.12 yen from 80.75.

Crude fell to near $90 early last week after the International Energy Agency announced the gradual release of 60 million barrels of oil from strategic reserves.

But oil prices have rebounded to where they were before the IEA announcement as the dollar weakened against the euro after the Greek parliament approved austerity measures, averting a debt default.

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.