Reading the Impact of Oil Prices on Your Energy Investments

1 2 3 4 5
Reading the Impact of Oil Prices on Your Energy Investments PART 1 OF 5

Can Oil’s U-turn Persist?

US Crude oil

On October 5, 2017, US crude oil (USO) (DBO) (USL) November futures closed at $50.79 per barrel—a jump of 1.6% from its last closing price. On the same day, US oil prices regained the $50 mark.

US crude oil prices rose as the diplomatic ties between Russia and Saudi Arabia reached a new high. Both these countries are among the top oil producers in the world. There was no official announcement that directly related to oil prices, but oil traders saw this as a positive development for oil prices.

Can Oil&#8217;s U-turn Persist?

Interested in UNG? Don't miss the next report.

Receive e-mail alerts for new research on UNG

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

The oil rig count data and the OPEC (Organization of the Petroleum Exporting Countries) Monthly Oil Market Report, scheduled to release on October 6 and October 11, respectively, could provide an important road map for oil prices.

Between September 28 and October 5, 2017, US crude oil prices fell 1.5%. During this period, the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) rose 1.7% and 1.8%, respectively.

Natural gas

In the trailing week, natural gas (UNG) (BOIL) November futures fell 3.1%. On October 5, 2017, natural gas futures fell 0.6% after the EIA (US Energy Information Administration) released its inventory data.

In the week ended September 29, 2017, natural gas inventories rose 42 Bcf (billion cubic feet), or 14 Bcf lower than the market expected inventories to rise. The bearish weather forecast could be behind this latest fall in natural gas prices.


Please select a profession that best describes you: