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 17, crude oil opened on a stronger note and traded with strength above the opening prices in the early hours.
From October 9–16, 2017, our list of natural gas–weighted stocks fell 2.4% compared to a 4.0% rise in natural gas’s (GASL) (GASX) November futures.
Most of these natural gas–weighted stocks had higher correlations with oil prices compared to natural gas.
On October 16, 2017, natural gas November futures fell 1.8% and closed at $2.94 per MMBtu (million British thermal unit).
From October 9–16, 2017, our list of oil-weighted stocks fell 0.70% compared to a 4.6% rise in US crude oil (DBO) (USL) November futures.
On October 16, 2017, US crude oil November futures rose 0.80% and closed at $51.87 per barrel, the highest closing price since September 28, 2017.
November US natural gas (UNG)(GASL) futures were above their 20-day moving averages of $2.99 per MMBtu on October 13.
US natural gas consumption rose by 7.3 Bcf (billion cubic feet) per to 70.37 Bcf per day in July 2017 compared to August 2017.
US dry natural gas production rose by 3 Bcf (billion cubic feet) per day to 75.9 Bcf per day in July 2017—compared with the previous month.
Baker Hughes (BHI) published its weekly US natural gas rig count report on October 13. Rigs fell by two to 185 from October 6 to 13—the lowest level since September 1.
On October 13, the US Energy Information Administration (or EIA) released its weekly US natural gas inventory report.
November natural gas (UGAZ)(DGAZ) futures contracts fell 1.13% to $2.96 per MMBtu (million British thermal units) in NYMEX electronic trading at 2:05 AM EST on October 16.
US natural gas (UNG)(DGAZ) futures contracts for November delivery rose 0.67% to $3 per MMBtu (million British thermal units) on October 13.
Precious metal mining companies gave a mixed reaction on Thursday, October 12.
Among these four miners, AngloGold has the lowest correlation with gold so far this year, while Coeur Mining has the highest correlation YTD.
Most precious metals had a down day on Tuesday, October 10, despite the recent overall upward movement in precious metals.
Much of the discussion surrounding another interest rate hike in December has been about how inflation numbers have remained low.
During the FOMC (Federal Open Market Committee) meeting in September, many officials showed interest in another rate hike in 2017—and more in 2018.