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This Week in Integrated Energy and Refining and Marketing Sectors

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This Week in Integrated Energy and Refining and Marketing Sectors PART 1 OF 6

Crude Oil Is Leading the Energy Sector This Week

Crude oil leading the rise

This week, which started on October 9, 2017, crude oil (USO) (USL) prices are leading the rise in energy commodities. Prices have increased from last week’s close of $49.29 per barrel on October 6, 2017, to $51.60 per barrel on October 11, 2017, a rise ~5.0%. Crude oil found support on its 50-day moving average and rose the first three days of the week. The majority of the gains for crude oil came on Tuesday when it rose ~3.0%. Another energy commodity that’s following crude oil on the upside is natural gas (UNG) (BOIL). As of October 11, 2017, natural gas prices rose 0.91% from last week’s close of $2.86 per mmBtu (million British thermal unit) to $2.89 per mmBtu on Wednesday.

Crude Oil Is Leading the Energy Sector This Week

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Even unleaded gasoline (UGA) prices are rising this week after two weeks of decline. Prices have increased from last week’s close of $1.56 per gallon on October 6, 2017, to $1.59 per gallon on October 11, 2017, a rise of 1.9%. On Friday, October 6, 2017, gasoline prices lost their 50-day and 200-day moving averages. However, gasoline’s 50-day moving average is above its 200-day moving average, which is a positive technical posture for gasoline prices. Gasoline and heating oil prices impact refining companies (CRAK).

Heating oil has also had a strong rise of 1.9% so far this week. As of October 11, 2017, heating oil closed at $1.79 per gallon.

Energy equities

With the robust performance from natural gas and crude oil, the energy sector is also rising this week. As of October 11, 2017, the Energy Select Sector SPDR ETF (XLE), which represents an index of stocks across the energy sector, rose 0.53%.

Stocks that are leading the rise in XLE are Chevron (CVX), Halliburton (HAL), and ConocoPhillips (COP). These stocks have risen 2.0%, 1.7%, and 1.5%, respectively, this week.

The falling stocks in XLE this week are Apache (APA), Chesapeake Energy (CHK), and Baker Hughes, a GE Company (BHGE). These stocks have fallen 7.1%, 6.0%, and 5.9%, respectively, this week.

In general, for the week starting October 9, 2017, XLE is marginally outperforming the SPDR S&P 500 ETF (SPY). As of Tuesday, October 10, 2017, SPY has risen 0.26% in the week.

In this series

Having analyzed the performance of the broader energy sector in the current week, we’ll now look at the performance of the energy subsectors. Specifically, we’ll look at the gainers and losers from the refining and marketing sector and the integrated energy sector. We’ll also try to analyze any news or developments behind the moves.

Let’s start with the refining and marketing gainers this week.

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