Oil Prices Jump Above $106

Source: CNN Money, Ben Rooney (3/31/11)

"USD weakness, turmoil in the Middle East continued to stoke supply concerns. The different approaches to monetary policy could set the stage for a period of prolonged dollar weakness, traders said"

Oil prices jumped Thursday, rising above $106 a barrel, as the U.S. dollar weakened and turmoil in the Arab world continued to stoke supply concerns.

The main U.S. oil contract, West Texas Intermediate, for May delivery was up $2.07 to $106.34 a barrel. Brent crude, the European benchmark, rose $1.90 to $117.03 a barrel.

The rally came as the dollar slumped 0.4% against the euro on speculation the European Central Bank is poised to raise interest rates to ward off rising inflation.

Eurostat, the European Union's statistics agency, estimated Thursday that euro area inflation rose 2.6% in March, up from 2.4% in February.

While inflation has also ticked higher in the United States, the Federal Reserve is not expected to raise interest rates soon, even as the central bank signals an end to its asset purchase program.

The different approaches to monetary policy could set the stage for a period of prolonged dollar weakness, traders said, since it would revive the so-called carry trade.

The carry trade is when investors use the currency of a country with low interest rates to fund investments in countries with higher rates. It tends to push the target currency, in this case the dollar, lower in the market.

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.