On Friday, Shares of EXCO Resources Inc. (NYSE:XCO), lost -19.87% to $1.21, hitting its lowest level, as oil prices dipped slightly on Friday as the U.S. dollar edged up from its overnight lows, while forecast higher production by U.S. shale oil producers this year added to lingering worries over demand.
U.S. crude futures for July shed 7 cents to $60.38 a barrel as of 0009 GMT after closing up 53 cents in the previous session.
EXCO Resources, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of onshore oil and natural gas properties with a focus on shale resource plays in the United States.
Shares of Hecla Mining Co. (NYSE:HL), declined -1.98% to $2.97, during its last trading session, as World oil prices fell Friday as traders took their direction from the dollar, which rose against the euro on the back of the Greek crisis.
US benchmark West Texas Intermediate for July delivery lost 89 cents to $59.56 a barrel contrast with Thursday’s close.
Hecla Mining Company, together with its auxiliaries, discovers, acquires, develops, produces, and markets precious and base metal deposits worldwide. The company offers unrefined gold and silver bullion bars to precious metals traders; and lead, zinc, and bulk concentrates to custom smelters and brokers.
Finally, Marathon Oil Corporation (NYSE:MRO), ended its last trade with -2.30% loss, and closed at $25.92, as oil futures took a hit on Friday to tally a loss for the week as traders bet on a further rise in Saudi crude output, worried about energy demand on the heels of Greece’s ongoing debt drama and monitored negotiations over Iran’s nuclear program.
On the New York Mercantile Exchange, July crude slumped 84 cents, or 1.4%, to settle at $59.61 a barrel. Tracking the most-active contracts, prices saw a weekly decline of 0.6%. MarketWatch Reports.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
