On October 13, 2017, Brent crude oil prices settled at $57.17 per barrel, 3% higher than $55.60 reported during the previous week.
On October 16, the November US natural gas futures contract price was reported as $2.95 per MMBtu.
According to the EIA, the natural gas inventory for the week ended October 6 was 3,595 Bcf (billion cubic feet). The storage amount is higher than the previous week’s 3,508 Bcf.
Baker Hughes (BHI) published its weekly US oil and gas count report on October 13. US oil rigs fell by five to 743 from October 6 to 13.
The market anticipates that crude oil inventories at Cushing rose from October 6 to 13. Cushing inventories rose for the ninth time in the last ten weeks.
The US benchmark, WTI (or West Texas Intermediate) crude oil (UWT)(DBO) prices, hit $54.45 per barrel on February 23.
The US Dollar Index rose 0.22% to 93.14 on October 16. It’s near a one-week high. The US dollar (UUP) rose due to the rise in US Treasury yields.
November WTI (West Texas Intermediate) crude oil (USO)(USL) futures contracts fell 0.1% and were trading at $51.78 per barrel in NYMEX in electronic trading at 2:15 AM EST today.
November US crude oil (UWT)(USL) futures contracts rose 0.8% and closed at $51.87 per barrel on October 16. The global benchmark, Brent crude oil (BNO) futures, rose 1.1% to $57.82 per barrel.
On October 13, 2017, the short interest ratio for Whiting Petroleum (WLL) stock was ~19.5%. At the beginning of the year, it was ~12.6%.
About 36.1% of analysts tracking Whiting Petroleum (WLL) stock have given it a “buy” rating, while 55.5% of them have rated it a “hold.”
The current implied volatility for Whiting Petroleum (WLL) stock is ~63.0%, which is ~2.3% lower than its 15-day average of ~64.5%.
Whiting Petroleum (WLL) stock regained its upward momentum last week, rising ~3.7% compared to a 5.0% fall in the previous week.
Short interest in Phillips 66 (PSX) expressed as a percentage of outstanding shares has fallen from 1.6% at the end of August to the current level of 1.4%.
Phillips 66 has been rated by 19 analysts. Of those, eight analysts (or 42.0%) have assigned the stock a “buy” or “strong buy” rating.
Implied volatility in Phillips 66 has fallen from 17.9% on July 3, 2017, to the current level of 15.9%. PSX stock rose 13.3% in the same period.
On July 3, 2017, Phillips 66’s (PSX) 50-day moving average was below its 200-day moving average. Its 50-day moving average broke below its 200-day moving average in 1Q17.
Since July 3, 2017, Phillips 66 stock has risen 13.3%. By comparison, the SPDR S&P 500 ETF (SPY) has risen 5.3%.
In 2Q17, Phillips 66’s (PSX) total adjusted net income of $569.0 million rose 14% YoY (year-over-year).
Phillips 66 (PSX) is expected to post its 3Q17 results on October 27, 2017. In 2Q17, its adjusted EPS (earnings per share) of $1.09 surpassed estimates of $1.01.