X
<

Has Your Energy Portfolio Captured Oil’s Gain?

PART:
1 2 3 4 5
Has Your Energy Portfolio Captured Oil’s Gain? PART 1 OF 5

What to Expect from Crude Oil Prices

US crude oil

On November 9, 2017, US crude oil (USO) (USL) active futures rose 0.6% and closed at $57.17 per barrel. Geopolitical concerns in the Middle East could have helped crude oil’s rise.

What to Expect from Crude Oil Prices

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

Receive e-mail alerts for new research on USO

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.

On November 2–9, 2017, US crude oil futures rose 4.8%. During this period, the S&P 500 Index (SPY) rose 0.2%, while the Dow Jones Industrial Average Index (DIA) fell 0.2%.

However, in the week ending November 3, 2017, US crude oil production rose to 9.62 million barrels per day—the highest weekly figure since 1983. It’s likely that higher oil prices might bring back the lost oil rigs since the week ending August 11, 2017. The recovery in the oil rig count could boost US crude oil production. A rise in US crude oil production could hamper global supply-demand dynamics and limit the upside in oil prices.

Natural gas

On November 9, 2017, natural gas (UNG) active futures rose 0.8% and closed at $3.2 per MMBtu (million British thermal units). On the same day, the U.S. Energy Information Administration reported natural gas inventory data. For the week ending November 3, 2017, natural gas inventories rose by 15 Bcf (billion cubic feet)—at par with the market’s expected rise.

On November 2–9, 2017, natural gas futures rose 9%. The bullish weather data could be behind the rise in natural gas.

X

Please select a profession that best describes you: