According to the IEA, any large upside in crude oil prices isn't likely due to a possible economic slowdown dragging the demand and rising oil exports.
US crude oil active futures rose 5% in the trailing week, which might have been behind the upsides in energy sector ETFs.
US crude oil active futures fell 0.4% and settled at $60.2 per barrel. Since the closing level last week, US crude oil prices have risen ~5.4% as of 3:09 AM ET today.
Among the oil-weighted stocks, Apache (APA) had a correlation of 47% with US crude oil prices—the lowest among oil-weighted stocks.
In recent months, the “Tech Cold War” has reared its head, but Apple doesn’t seem ready to throw in the towel in the Chinese market.
In prepared remarks ahead of his testimony to US Congress, Federal Reserve Chair Jerome Powell leaned toward a dovish stance.
As of July 9, Shake Shack (SHAK) was trading at $73.25, which implies a rise of 61.3% since the beginning of this year.
For the rest of this year, Henry Hub natural gas spot prices will be at a mean price of 2.50 per million British thermal units.
On Thursday, the EIA is scheduled to release its natural gas inventory report for the week ending July 5.