Abraxas Petroleum Corp
Latest Abraxas Petroleum Corp News and Updates
How Did Natural Gas, Crude Oil, and SPY Fare Last Week?
For the week ended July 8, 2016, August natural gas futures (UNG) (FCG) (UGAZ) (DGAZ) (BOIL) fell by 6.2%.
Crude Oil’s Comeback: Analyzing Oil-Weighted Stocks
On August 15, 2016, US crude oil (USO) (OIIL) (USL) (SCO) contracts for September delivery closed at $45.74 per barrel—2.8% above its previous closing price.
Oil Inventories: What Do They Indicate for Oil Prices?
The relationship between crude oil inventories and crude oil prices is inverse. Crude oil prices bottomed out in early 2016. Inventories topped out as well.
How Are Key Macroeconomic Indicators Affecting Oil?
The US (SPY) (VOO) consumer sentiment index was 93.5 for June’s final reading, according to the University of Michigan survey released on June 24, 2016.
Will the Dollar’s Recovery Affect Crude Oil?
Between June 7 and June 14, 2016, crude oil (USO) fell by ~3.7% while the US dollar index (UUP) rose by around 1.2%.
What Do Key Economic Indicators Suggest for Crude Oil?
The one-month correlation of crude oil prices with the US Dollar Index was -9.2% on May 27. It shows the US dollar’s inverse impact on crude oil prices.
What’s the Correlation between Crude Oil and the US Dollar Index?
Between May 24 and May 31, crude oil gained about 0.98% despite the fact that the US Dollar Index also rallied around 0.33%.
How Did the Consumer Price Index Affect Crude Oil Prices?
The US (SPY) (VOO) CPI (consumer price index) rose 0.4% on a month-over-month basis in April, according to a US Department of Labor report on May 17, 2016.
What’s the Correlation between Crude Oil and the Dollar Index?
Between September 2007 and April 2013, the crude oil (USO) and dollar index (UUP) one-month correlation was positive in only a few instances.
What Are Key Macroeconomic Indicators for Crude Oil?
The last one-month correlation of crude oil with the US Dollar Index spot stood at 2.4% on May 6, 2016. This is a low correlation.
Gold and Crude Oil: How Does the Correlation Work?
Gold (GLD) can be considered an indicator of economic fear and inflation expectations. Driven by these fears, gold gains during equity market turmoil.
Key Upstream Stocks Could Be Impacted by Crude’s Downturn
Abraxas Petroleum has the highest positive correlation with WTI crude oil among the upstream companies that are part of XOP between February 11 and April 4.
The US Dollar Index Slips to 1-Month Lows
The US Dollar Index fell by nearly 1% as the basket of currencies that the US dollar is weighed against posted gains.
