On March 28, 2017, WTI (West Texas Intermediate) crude oil active futures were trading at a discount of $2.96 per barrel to Brent crude oil active futures.
The recent spike in the inventory spread has seen crude oil prices fall below the crucial $50 level.
In the past five trading sessions, crude oil and the US dollar moved in opposite directions in only one instance.
The US oil rig count reached 652 in the week ended March 24, 2017. That was a 21-rig rise over the previous week.
OECD commercial crude oil and other liquids inventory days of supply could rise in April, possibly pushing oil prices back near $40.
Many utilities (XLU) such as American Electric Power (AEP), Southern Company (SO), and Duke Energy (DUK) have a coal-dominated generation mix.
On March 28, President Trump took another step to repeal Obama-era climate change policies. He wants fewer regulations in the fossil fuels industry.
On March 27, 2017, natural gas futures contracts for May 2017 delivery closed at $3.13 per MMBtu (million British thermal units), ~0.6% below their previous closing price.
Between March 20, 2017, and March 27, 2017, natural gas futures contracts for May 2017 rose 1%. The commodity saw the small gain due to slightly bullish inventory data.
In this part of the series, we’ll look at the returns of an equally-weighted basket of oil stocks that operate with production mixes of at least 60.0% in crude oil (DBO) (OIIL).
On March 27, 2017, WTI (West Texas Intermediate) crude oil May futures closed at $47.73 per barrel, ~0.5% lower than their previous closing price.
In 2017, Novartis (NVS) has planned to conduct a review of its Alcon segment to evaluate the business’s growth potential.
Due to the failure of the new healthcare bill, major pharmaceutical companies witnessed a fall in their share prices from March 23, 2017, to March 27, 2017.
The healthcare bill’s failure had a negative impact on investor sentiment for health insurance carriers.
Trumpcare’s failure is considered to be a boon by hospital companies treating a significant portion of Medicaid members.
On March 24, 2017, House Speaker Paul Ryan pulled back the American Health Care Act, also known as “Trumpcare,” before votes were cast.
On March 24, 2017, EnLink Midstream Partners had a short-interest-to-equity float ratio of 10.7%—the highest among the midstream stocks in AMLP.
In the past five days, TGP stock has fallen 1.7%. During the same period, AMLP has fallen 0.4%, while the S&P 500 Index (SPY) has fallen 1.3%.
On March 24, 2017, Teekay LNG Partners (TGP) had an implied volatility of 38.7%—the highest among the midstream stocks in the Alerian MLP ETF (AMLP).
Baidu (BIDU) has launched a transcription tool called SwiftScribe. The tool uses artificial intelligence to convert audio files into text, and it does this work incredibly quickly.