VanEck Vectors Oil Refiners ETF
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How Will the Energy Subsector Perform in 2020?
In 2019, the VanEck Vectors Oil Refiners ETF (CRAK) rose by 8.5%, the only gainer among the ETFs covering the energy subsectors.
Where Is US Crude Oil Headed? An Energy Update
On August 30, US crude oil October futures settled at $55.1 per barrel. On a week-over-week basis, US crude oil prices rose 1.7%.
Do US Energy Stocks Look Promising?
Crude oil production continues to rise, and oil prices remain at $50. Despite that, US energy stocks aren’t getting investors’ interest.
Midstream Stocks Were the Top Gainers in Energy Sector
Last week, midstream stock Holly Energy Partners (HEP) outperformed other companies in the energy space.
How Strong Gas Prices and Falling Yields Impacted Energy Sector
Last week, US crude oil prices fell 1.6%, while natural gas active futures rose 4.8%.
Energy Space: Analyzing the Fall in the Brent-WTI Spread
Any expansion in the Brent-WTI spread could benefit US refineries and cause their input costs to fall. US refiners’ output prices are benchmarked to stronger Brent prices.
Oil Dragged Down Energy Subsector ETFs
Last week, US crude oil prices fell 2.7%, while natural gas active futures rose 2.1%.
Higher Brent-WTI Spread: Which Energy Stocks to Watch
On May 31, the Brent-WTI spread expanded to ~$10.99—the widest level since June 7, 2018. Last week, CRAK rose 2.5%.
Brent-WTI Spread Impacts US Energy Stocks
On May 24, the Brent-WTI spread expanded to ~$10.06—the widest level since February 21. Last week, CRAK fell 2.3%.
How Brent-WTI Spread Is Affecting Oil Exports and Energy Stocks
The widening gap between Brent and WTI crude oil prices could benefit US crude oil exporters.
Energy Subsectors: Analyzing the Downside
Last week, the Energy Select Sector SPDR ETF (XLE) fell 3%. XLE had the largest decline among the sector-specific SPDR ETFs under review.
Brent-WTI Spread Impacts Energy Sector Movements
On April 8, Goldman Sachs wrote in a note that it expects Brent crude oil and US crude oil to average ~$66 and $59.50 per barrel in 2019.
Energy Stocks Reacted to the Brent-WTI Spread
On April 8, Goldman Sachs wrote that it expects Brent crude oil and US crude oil to average ~$66 and $59.50 per barrel, respectively, in 2019.
Energy & Utilities Brent-WTI Spread Impacts Downstream Companies
Any expansion in the Brent-WTI spread could benefit US refineries (CRAK) and cause their input costs to fall.
Vital Trend for Energy Subsectors Last Week
Last week, US crude oil March futures fell 4.6%, while the Energy Select Sector SPDR ETF (XLE) fell 3%.
Brent-WTI Spread Reacted Negatively to the Venezuela Crisis
On February 4, Brent crude oil April futures settled ~$7.95 higher than WTI crude oil March futures. On January 28, the spread was ~$7.82.
Oil Exports and Downstream Stocks Might Start 2019 on a High Note
On January 7, Brent crude oil March futures settled at ~$8.81—higher than WTI crude oil February futures.
US Oil Exports and Downstream Stocks Might Retreat
On January 2, Brent crude oil March futures settled at ~$8.37—higher than WTI crude oil February futures.
Brent-WTI Spread Might Drag US Oil Exports and Downstream Stocks
On December 26, Brent crude oil February futures settled at ~$8.25—higher than WTI crude oil February futures.
Will US Oil Exports End 2018 on a Low Note?
On December 17, Brent crude oil February futures settled at ~$9.41—higher than WTI crude oil February futures.
Have US Oil Exports Maxed Out?
On December 10, Brent crude oil February futures settled at ~$8.97, higher than WTI crude oil January futures.
Brent-WTI Spread Might Push Oil Exports and Downstream Stocks Up
On September 10, 2018, Brent crude oil November futures settled ~$9.83 higher than WTI crude oil October futures, the highest level for the Brent-WTI spread since June 19, 2018.
Is US Gasoline Demand Helping Oil Bulls?
US gasoline consumption averaged 9.32 MMbpd in 2017. Gasoline consumption could average 9.31 MMbpd in 2018 and 9.36 MMbpd in 2019.
Brent-WTI Spread Could Support Downstream Stocks and Oil Exports
On July 23, Brent crude oil September futures settled ~$5.17 higher than WTI crude oil September futures.
Why US Crude Oil Exports Fell Sharply from a Record High
US crude oil exports decreased 13.2% to 2,027,000 bpd on June 29–July 6. The exports increased by 1,109,000 bpd or 121% from a year ago.
US Gasoline Demand Could Hit a New Record
The EIA estimates that the four-week average US gasoline demand increased 2.4% to 9,701,000 bpd (barrels per day) on June 22–29.
Gasoline Inventories Could Push Oil Prices to Multiyear Highs
The API reported that US gasoline inventories fell by ~3.1 MMbbls (million barrels) on June 22–29.
Delek US Holdings: The Sole Gainer in Refining and Marketing
In this part of our series, we’ll look at the top-percentage gainers from the US refining and marketing sector this week.
A Look at Valero Energy’s Surge This Year
Year-to-date, Valero Energy (VLO) has been the Energy Select Sector SPDR ETF’s (XLE) fourth-strongest energy stock, rising ~27%.
Which Refining and Marketing Energy Stocks Are Rising This Week?
World Fuel Services (INT) increased from last week’s close of $21.80 to $22.35 on June 14—an increase of more than 2.5%.
Energy Sector: Third-Lowest Performer in the S&P 500 This Week
On June 14, the S&P 500 Index was up ~0.2% for the week. It rose from the previous week’s close of $2,779.03 to $2,782.49.
Are Crude Oil Bulls Tracking US Gasoline Demand?
The EIA estimates that the four-week average US gasoline demand increased 1.6% to 9,671,000 bpd (barrels per day) on May 18–25.
Is the Energy Sector Dragging the S&P 500 Down?
In this series, we’ll look at the companies with the top gains and losses in the refining and marketing sector and integrated energy sector.
Gasoline Inventories Pressure Gasoline and Oil Prices
US gasoline inventories increased by 1.9 MMbbls to 233.9 MMbbls on May 11–18. The inventories have fallen by 5.9 MMbbls or 2.5% YoY.
US Crude Oil Exports Reached a New Record Again
The EIA estimates that US crude oil exports increased by 689,000 bpd (barrels per day) to a record high of 2,566,000 bpd on May 4–11.
This Week’s Rising Refining and Marketing Energy Stocks
In this part of our series, we’ll look at the top-percentage gainers from the US refining and marketing sector this week.
Gasoline Inventories Support Gasoline and Oil Prices
The larger-than-expected decline in gasoline inventories helped US gasoline futures on May 16. US gasoline futures rose 2.1% to $2.3 per gallon on May 16.
Drop in Gasoline Inventories Boosts Gasoline and Oil Prices
According to the EIA, US gasoline production decreased 0.7% to 9,974,000 bpd (barrels per day) on April 27–May 4.
US Crude Oil Exports Could Rise More
On April 30, Brent crude oil July futures settled at $6.12 more than WTI crude oil June futures. On April 23, the Brent-WTI spread was at $5.37.
US Gasoline Demand Decreased on April 13–20
The EIA estimates that the four-week average US gasoline demand decreased by 31,000 bpd (barrels per day) to 9,354,000 bpd on April 13–20.
US Crude Oil Exports Reached a New Record
The EIA estimates that US crude oil exports increased by 597,000 bpd (barrels per day) to record high of 2,175,000 bpd on March 23–30, 2018.
US Crude Oil Production and US Crude Oil Exports
On April 2, 2018, Brent crude oil June futures settled at $4.63 more than WTI crude oil May futures.
US Gasoline Inventories Fell for the Fourth Consecutive Week
The EIA reported that US gasoline inventories declined by 3.4 MMbbls (million barrels) to 239.5 MMbbls on March 16–23, 2018.
US Gasoline Inventories Helped Gasoline and Oil Prices
The EIA released its crude oil inventory report on Wednesday, March 14, 2018.
Why the Brent-WTI Spread Is Important
On February 16, 2018, Brent crude oil futures settled $3.16 above WTI crude oil prices. The Brent-WTI spread was at $3.6 on February 9, 2018.
US Gasoline Inventories Rose: Bad News for Crude Oil Prices
US gasoline inventories increased by 3.6 MMbbls (million barrels) or 1.5% to 249 MMbbls on February 2–9, 2018, according to the EIA.
Larger Build in US Gasoline Inventories Pressures Oil Prices
According to the EIA, US gasoline inventories increased by 3.4 MMbbls (million barrels) to 245.4 MMbbls on January 26–February 2, 2018.
How the Brent-WTI Spread Is Trending
On February 5, 2018, Brent crude oil active futures closed $3.47 above WTI (West Texas Intermediate) crude oil active futures.
EIA Upgrades US Gasoline Demand for 2019
The four-week average US gasoline demand increased by 99,000 bpd (barrels per day) or 1.1% to 8,806,000 bpd on January 19–26, 2018.
World Fuel Services: The Only Refining and Marketing Gainer
Refining and marketing gainers In this part, we will look at the top percentage gainers from the refining and marketing sector in the US for the week starting January 29, 2018. To compile the list of top refining and marketing gainers, we have selected refining and marketing companies with market capitalizations of greater than $100 […]
US Distillate Inventories Rose for the Eighth Time in 10 Weeks
US distillate inventories rose by 0.64 MMbbls (million barrels) to 139.8 MMbbls on January 12–19, 2018, according to the EIA.
US Gasoline Inventories Could Threaten Crude Oil Prices
According to the EIA, US gasoline inventories increased by 3.1 MMbbls (million barrels) to 244 MMbbls on January 12–19, 2018.
US Gasoline Demand Could Extend the Crude Oil Price Rally
The EIA estimated that four-week average US gasoline demand decreased by 190,000 bpd (barrels per day) to 8,904,000 bpd on January 5–12, 2018.
Gasoline Inventories Could Cap the Upside for Oil Prices
On January 23, 2018, the API released its crude oil inventory report. US gasoline inventories increased by 4.1 MMbbls on January 12–19, 2018.
US Oil Exports Could Threaten International Oil Prices
In the week ending January 12, 2018, US crude oil exports were at ~1.25 MMbpd—234,000 barrels per day more than the previous week.
US Distillate Inventories Fell for the Third Time in 10 Weeks
US distillate inventories fell by 3.8 MMbbls or 2.7% to 139.2 MMbbls on January 5–12, 2018. The inventories fell by 29.9 MMbbls or 18% from a year ago.
US Gasoline Inventories: More Pain for Crude Oil Prices?
US gasoline inventories increased by 3.6 MMbbls (million barrels) or 1.5% to 241 MMbbls on January 5–12, 2018, according to the EIA.
US Distillate Inventories Rose for the Seventh Time in 8 Weeks
US distillate inventories rose by 4.2 MMbbls (million barrels) to 143.1 MMbbls between December 29, 2017, and January 5, 2018.
US Oil Exports Are Crucial for Oil Prices in 2018
On January 8, 2018, Brent crude oil (BNO) active futures were $6.05 stronger than WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures.
US Distillate Inventories Rose for the Sixth Time in 7 Weeks
US distillate inventories increased for the sixth time in the last seven weeks. The inventories rose ~11% in the last seven weeks.
Should Oil Traders Follow US Oil Exports in 2018?
On December 29, 2017, the price difference between Brent crude oil (BNO) active futures and WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures was $6.45.
Comparing WTI’s and Brent’s Performance
The Brent-WTI spread On December 18, 2017, Brent crude oil (BNO) active futures’ premium to WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures was $6.30. On December 11, 2017, the Brent-WTI spread was $6.70. On December 11, 2017, the shutdown of the Forties Pipeline System boosted Brent oil prices. That day, the spread expanded […]
Brent Is Outperforming WTI Crude Oil
On December 11, 2017, Brent crude oil (BNO) active futures settled $6.7 more than WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures.
Energy Stocks Outperformed Oil and the Broader Market
On December 1–8, 2017, midstream stock NGL Energy Partners LP (NGL) was the largest gainer among energy stocks.
Oil Traders Should Watch US Oil Exports
On December 5, 2017, Brent crude oil (BNO) active futures were priced $5.24 higher compared to WTI crude oil (USO) (UCO) active futures.
Will US Gasoline Demand Help Crude Oil Prices This Week?
According to the EIA, US gasoline demand rose by 423,000 bpd (barrels per day) or 4.6% to 9,595,000 bpd on November 10–17, 2017.
WTI Crude Oil Is Rising Faster than Brent
On November 28, 2017, Brent crude oil (BNO) active futures closed at $5.62 higher than US WTI crude oil (USO) (UCO) active futures.
Energy Sector Underperformed S&P 500 in Short Holiday Week
With the mixed performances of natural gas and crude oil, the energy sector showed a modest increase last week in the holiday-shortened week.
Is WTI Crude Oil Outdoing Brent?
On November 21, Brent crude oil (BNO) active futures closed $5.74 above US crude oil (USO)(UCO) active futures. In other words, the Brent-WTI (West Texas Intermediate) spread was $5.74.
How Lower US Gasoline Inventories Help Crude Oil Futures
US gasoline inventories According to the EIA (U.S. Energy Information Administration), US gasoline inventories rose by 44,000 barrels to 210.4 MMbbls (million barrels) between November 10 and 17, 2017. However, gasoline inventories were 13.5 MMbbls (6.1%) lower than in the same period in 2016. The market estimated that US gasoline inventories would rise by 737,000 barrels between […]
US Gasoline Demand Hit a Record in October 2017
According to the API, US gasoline demand averaged 9,300,000 bpd (barrels per day) in October 2017. It was the highest level ever.
Will US Gasoline Demand Help Oil Bulls or Bears?
The EIA estimates that US gasoline demand rose by 35,000 bpd (barrels per day) or 0.4% to 9,496,000 bpd on October 27–November 3, 2017.
US Distillate Inventories Are at 32-Month Low
The EIA reported that US distillate inventories fell by 3,359,000 barrels to 125.5 MMbbls (million barrels) or 2.6% between October 27, 2017, and November 3, 2017.
US Crude Oil Exports: Will They Affect OPEC’s Production Cut Deal?
On November 7, 2017, the difference between Brent crude oil (BNO) active futures and US crude oil (USO) active futures, or the Brent-WTI (West Texas Intermediate) spread, was $6.50.
US Gasoline Inventories Fell 18%, Bullish for Crude Oil
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories fell by 4,020,000 barrels to 212.8 MMbbls on October 20–27, 2017.
US Crude Oil Exports Could Be at a Tipping Point
On October 31, 2017, Brent crude oil (BNO) active futures were ~$7 above US crude oil (UCO) futures.
US Gasoline Demand Hit an All-Time High in August
On October 31, 2017, the EIA reported that US gasoline demand rose by 197,000 bpd to 9,770,000 bpd in August 2017—compared to the previous month.
Massive Fall in US Gasoline Inventories Drove Gasoline Futures
The EIA reported that US gasoline inventories fell by 5,465,000 barrels or 2.5% to 216.8 MMbbls (million barrels) on October 13–20, 2017.
Brent-WTI Spread: Will US Oil Exports Rise Further?
On October 24, 2017, Brent crude oil (BNO) active futures were $5.86 above WTI crude oil active futures.
Is US Gasoline Demand Impacting Crude Oil Prices?
The EIA estimates that the four-week average US gasoline demand fell by 76,000 bpd (barrels per day) to 9,345,000 bpd on October 6–13, 2017.
US Gasoline Inventories: Will Crude Oil’s Rally Be Short-Lived?
US gasoline inventories rose for the fourth straight week. The inventories are 8.5 MMbbls or 4% higher than the five-year average.
Why the Brent-WTI Spread Could Make Global Oil Supplies Rise
On October 17, 2017, Brent crude oil (BNO) active futures closed $6 above the WTI (West Texas Intermediate) crude oil futures.
How US Distillate Inventories Impact Diesel and Crude Oil Prices
The US Energy Information Administration (or EIA) estimates that US distillate inventories fell by 1.4 MMbbls (million barrels) to 133.9 MMbbls between September 29 and October 6.
US Gasoline Inventories Could Help Gasoline and Crude Oil Prices
The API (American Petroleum Institute) estimates that US gasoline inventories fell by 1.57 MMbbls (million barrels) on September 29–October 6, 2017.
Brent-WTI Spread Impacts US Oil Exports and Downstream Stocks
On August 20, Brent crude oil October futures settled ~$6.79 higher than WTI crude oil October futures. On August 13, the spread was at ~$6.04.
Behind the Rising XLE Stocks: Refining and Marketing
So far this week (starting October 2, 2017,) World Fuel Services (INT) is leading our select list of gainers in the refining and marketing group of energy stocks.
Analyzing US Distillate Inventories and Diesel Prices
The EIA estimates that US distillate inventories fell by 2.6 MMbbls (million barrels) to 135.4 MMbbls on September 22–29, 2017.
Brent Underperforming US Crude Oil: Impact on US Oil Exports
In 2017 year-to-date, US crude oil exports averaged ~782,700 barrels per day, based on weekly data from the EIA (Energy Information Administration).
Gasoline Inventories Could Pressure Crude Oil Prices
The API estimates that US gasoline inventories rose by 4.19 MMbbls on September 22–29, 2017. The market expected a build by 1.08 MMbbls.
Understanding Falling US Distillate Inventories
The EIA estimates that US distillate inventories fell 0.8 MMbbls (million barrels) to 138.0 MMbbls from September 15–22, 2017.
Understanding the Rising US Gasoline Inventories
The EIA estimated on September 27 that US gasoline inventories rose 1.1 MMbbls (million barrels) to 217.2 MMbbls from September 15–22, 2017.
The Kurdish Referendum: Is Brent Outperforming WTI Crude?
On September 26, Brent crude oil active futures were $6.56 more than US crude oil active futures. On September 19, the Brent-WTI spread was at $5.66.
US Gasoline Demand Today: Bullish or Bearish for Crude?
The EIA estimates that weekly US gasoline demand fell 178,000 bpd (barrels per day) to 9.4 MMbpd between September 8 and September 15.
Why the Brent and WTI Crude Oil Spread Hit a 26-Month High
November WTI (West Texas Intermediate) crude oil (UWT)(DWT)(DBO) futures contracts fell 0.2% and were trading at $52.12 per barrel in electronic trading at 2:20 AM EST on September 26.
Key Energy Events on September 18–22, 2017
On September 18, the EIA will report its monthly Drilling Productivity report. Based on the previous report, the oil rig efficiency fell in September 2017.
How Oil and Gas Refining and Marketing Stocks Performed Last Week
Marathon Petroleum (MPC) was the biggest loser last week from the refining and marketing sector.
Cushing Crude Oil Inventories Rose: Second Time in 10 Weeks
A preliminary market survey estimates that Cushing crude oil inventories rose on August 11–18, 2017. Inventories rose for the second time in ten weeks.
What the Brent–WTI Spread Indicates
On August 15, Brent crude oil active futures were trading $3.25 more than the WTI crude oil active futures. On August 8, the spread stood at $2.97.
US Oil in a Bear Market: What’s Up with the Brent-WTI Spread?
On June 20, 2017, Brent crude oil (BNO) active futures were trading $2.79 higher than WTI (West Texas Intermediate) crude oil (UCO) (OIIL) (USL) active futures.
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