Natural Gas: Important Bearish and Bullish Drivers
On February 22, 2017, active natural gas (UNG) (FCG) (BOIL) (GASL) futures are trading at a discount of $0.65 to the futures contracts 12 months ahead.
From February 15, 2017, to February 22, 2017, natural gas April futures fell 11.1%. The US dollar (UUP) (UDN) (USDU) didn’t change during that period.
According to data from the EIA, natural gas (UNG) (GASX) (UGAZ) inventories fell by 114 Bcf (billion cubic feet) during the week ending February 10, 2017.
The oil rig count will be important to watch alongside natural gas prices this week. It could be a bearish catalyst for natural gas.
In the past four trading sessions, natural gas April futures fell 11.1% and closed at ~$2.70 per MMBtu on February 22—0.4% higher than the previous session.
AT&T plans to offer a single-line unlimited data plan at $100 per month compared to $80 per month for Verizon and $60 per month for Sprint (S).
Sprint and T-Mobile, which are smaller than Verizon and AT&T, have aggressively promoted unlimited data plans in an effort to steal market share.
T-Mobile’s (TMUS) postpaid subscriber growth significantly outpaced that of its peers in the saturated US wireless space.
Verizon (VZ) is close to a revised deal to buy Yahoo’s core Internet business for about $300 million less than the original price of $4.8 billion.
Verizon’s (VZ) unlimited data plan has a 22 GB soft cap, similar to its competitors’ offerings.
After eliminating unlimited wireless data plans nearly five years ago, Verizon (VZ) reintroduced its Unlimited offering, with four-line pricing largely matching AT&T’s (T) pricing.
Targeting user experience space So far in this series, we’ve discussed what to expect from Salesforce’s (CRM) upcoming fiscal 4Q17 earnings announcement. Let’s discuss the company’s recent buyout of Sequence.…
Tidewater’s (TDW) short interest-to-equity float ratio is 44.5%—the highest among the OFS stocks that are part of the VanEck Vectors Oil Services ETF (OIH).
In the last four quarters, CARBO Ceramics’ revenue fell 48.8%. Its adjusted operating loss was $27.8 million in 4Q16—compared to $32.3 million in 4Q15.
On February 21, 2017, Seadrill (SDRL) had the highest implied volatility among the OFS companies that are part of the VanEck Vectors Oil Services ETF (OIH).
Periods of strong crude oil prices coincided with the backwardation structure. Crude oil active futures closed at $145.29 per barrel on July 3, 2008.
On February 21, WTI crude oil (USO) (USL) (OIIL) (SCO) active futures traded at a discount of $2.6 per barrel compared to Brent crude oil active futures.
US crude oil futures contracts for April delivery rose 1.6% between February 14 and February 21, 2017. The US Dollar Index didn’t change during that period.
US commercial crude oil inventories rose by ~9.5 MMbbls (million barrels) in the week ending on February 10, 2017—compared to the previous week.
The US oil rig count was 597 in the week ending February 17—a rise of six rigs compared to the previous week, according to data released by Baker Hughes.