US crude oil prices
June WTI (West Texas Intermediate) crude oil (UCO) (BNO) (VDE) futures contracts rose 0.1% and settled at $49.62 per barrel on April 26, 2017. US crude oil prices rose due to a larger-than-expected draw in US crude oil inventories and record refinery crude oil demand. The S&P 500 (SPY) (SPX-INDEX) fell 0.1% on April 26, 2017. Oil and gas are major parts of the energy sector. The energy sector contributed to ~6.6% of the S&P 500 as of April 21, 2017.
Brent crude oil prices
Brent crude oil futures fell 0.5% and settled at $51.82 per barrel on April 26, 2017. Prices fell due to oversupply concerns. Brent and WTI crude oil futures diverged on April 26, 2017.
Crude oil volatility index
The crude oil volatility index fell 0.2% to 29.3 on April 26, 2017. It hit 24.7 on March 1, 2017—the lowest level since October 2014. Changes in crude oil prices can impact oil and gas producers’ earnings like Noble Energy (NBL), Swift Energy (SFY), Hess (HES), and Triangle Petroleum (TPLM).
In this series
In this series, we’ll look at US crude oil production, refinery demand, imports, and inventories. We’ll also look at gasoline inventories.
We’ll start by looking at US crude oil prices in early morning trade on April 27, 2017.