29 Nov

Is Oil’s Rise Coming to a Halt?

WRITTEN BY Rabindra Samanta

US crude oil

On November 28, 2017, US crude oil (USO) (USL) active futures fell 0.2% and closed at $57.99 per barrel.

Is Oil’s Rise Coming to a Halt?

All eyes are on the outcome of OPEC’s meeting on November 30, 2017. Speculation about the meeting’s outcome caused oil prices to fluctuate. However, the risk from growth in the US share in the global oil supply could also dominate oil prices. In the next part, we’ll focus on US crude oil production. We’ll discuss US crude oil exports in the last part.

On November 21–28, 2017, US crude oil active futures rose 2%. The S&P 500 Index (SPY) rose 1.1% and the Dow Jones Industrial Average Index (DIA) rose 1% during this period. Strong oil prices could benefit these equity indexes.

Moving averages

On November 28, US crude oil active futures were 3%, 8.9%, 14.8%, and 16.5% more than their 20, 50, 100, and 200-day moving averages, respectively. The 50-day moving average was 7% higher compared to the 200-day moving average. All of these indicate bullishness in oil prices.

Latest articles

19 Jul

Afya's IPO Sees Strong Listing Gains

WRITTEN BY Mohit Oberoi, CFA

Afya (AFYA) listed on the Nasdaq Global Select Market on July 19. The company priced its IPO at $19 per share.

19 Jul

What to Watch For in Amazon's Q2 Earnings

WRITTEN BY Sanmit Amin

e-Commerce giant Amazon (AMZN) is scheduled to report its second-quarter earnings results after the closing bell on July 25.

19 Jul

Barrick Gold Reaches Deal to Buy Acacia Mining

WRITTEN BY Anuradha Garg

After a long standoff, Barrick Gold (GOLD) and Acacia Mining (ABGLF) have reached an agreement.

19 Jul

Comcast Shares Pop on Goldman's Optimism

WRITTEN BY Ruchi Gupta

Comcast (CMCSA) shares popped after Goldman Sachs issued a positive note on the company recently. Goldman upgraded its rating for Comcast to "buy" from "hold."

19 Jul

Why Analysts Are Bearish on Netflix Stock

WRITTEN BY Aditya Raghunath

Netflix stock fell over 10.0% on Thursday and is down 0.5% today as well.

On Thursday, pet retailer Chewy (CHWY) reported its first-quarter results after the market closed. The company reported its earnings for the first time.