Crude oil on the rise
For the week starting on March 19, 2018, crude oil (USO) prices increased ~4.4%. The prices increased from last week’s close of $62.41 per barrel to $65.17 per barrel on Wednesday. So far, unleaded gasoline (UGA) and heating oil prices have risen ~3.9% and ~5.0% this week.
Natural gas on the decline
Natural gas (UNG) prices are declining this week. Natural gas prices decreased from last week’s close of $2.69 per MMBtu (million British thermal units) on March 16 to $2.64 per MMBtu on March 21—a decrease of ~1.9%.
With the strong positive performance from crude oil (USO), the energy sector is trading up this week. As of March 21, the Energy Select Sector SPDR Fund (XLE), which represents an index of stocks across the energy sector, has increased ~1.9%.
In this series
In this series, we’ll look at energy subsectors’ performances. Specifically, we’ll look at the companies with the top gains and losses in the upstream and oilfield services sectors. We’ll also analyze news and developments behind the moves.
Next, we’ll discuss the top gainers in the upstream sector this week.