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Brent-WTI Spread Is Declining: What Does It Mean?
On January 29, 2018, the difference between Brent crude oil (BNO) active futures and WTI crude oil active futures was $3.9—the lowest since August 17, 2017.
Is Natural Gas Pricing in Colder Weather?
On January 23, 2018, natural gas February 2018 futures settled $0.34 above February 2019 futures.
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.
Natural Gas Market Could Be Pricing In a Supply Deficit
On January 16, 2018, the gap between natural gas’s February 2018 futures and February 2019 futures was $0.07, or the futures spread.
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.
Are Traders Confident about the Oil Supply-Demand Balance?
Between December 29, 2017, and January 8, 2018, the premium and the oil prices rose. The market expects a tightening supply-demand balance for oil in 2018.
Natural Gas: Are Winter Demand Fears Rising?
On January 2, 2018, natural gas (UNG) (BOIL) (FCG) February 2018 futures settled $0.025 less than February 2019 futures.
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.
Natural Gas: Have Oversupply Concerns Eased?
On December 19, natural gas (UNG)(BOIL)(FCG) January 2018 futures closed $0.31 below its January 2019 futures.
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 […]
Natural Gas: Is the Market Expecting Oversupply?
On December 12, natural gas (UNG) (BOIL) January 2018 futures settled $0.33 lower than January 2019 futures. The “futures spread” was at a discount.
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.
Are Natural Gas Supply Fears Rising?
On December 6, natural gas (UNG)(BOIL) January 2018 futures traded at a discount of ~$0.24 to January 2019 futures. This price difference between January 2018 futures and January 2019 futures is called the “futures spread.”
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.
Are Supply Fears Returning to the Oil Market?
On December 5, 2017, the January 2018 futures contract for US crude oil settled at a premium of $2.5 to January 2019 futures.
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.
Are Oversupply Concerns Gripping Natural Gas Prices?
On November 22, natural gas (UNG)(BOIL) January 2018 futures closed at a discount of ~$0.2 to January 2019 futures.
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.
Natural Gas Futures Spread: Analyzing Oversupply Concerns
On November 15, 2017, natural gas (UNG) (BOIL) December 2017 futures traded at a discount of ~$0.1 to December 2018 futures.
Are Crude Oil’s Oversupply Concerns Increasing?
In the trailing seven calendar days, the fall in the premium might suggest that oversupply concerns are rising in the oil market.
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.
Futures Spread: Is the Oil Market Tightening?
On November 7, 2017, US crude oil (OIIL) December 2018 futures settled $2.08 below the December 2017 futures.
Understanding the Natural Gas Futures Spread: Are Oversupply Concerns Rising?
On November 1, natural gas December 2018 futures settled $0.22 above December 2017 futures. On October 25, the futures spread was at a premium of $0.11.
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.
Is the Oil Market Balancing?
On October 31, 2017, US crude oil (USO) December 2018 futures settled $1.4 below December 2017 futures.
Understanding the Natural Gas Futures Spread—And What It Means for Prices
On October 25, 2017, natural gas December 2018 futures closed $0.11 above the December 2017 futures.
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.
Futures Spread: Why Oil Is Looking Stronger
On October 24, 2017, US crude oil December 2018 futures closed $0.8 below December 2017 futures.
Reading the Natural Gas Futures Spread: Rising Oversupply Concerns
On October 11, 2017, the futures spread was at a premium of $0.13. Between then and October 18, natural gas November futures fell 1.2%.
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.
Futures Spread: Does It Signal End of Oil’s Oversupply Concern?
On October 17, 2017, US crude oil (USO) (OIIL) December 2018 futures traded $0.46 below the December 2017 futures.
Why the Natural Gas Futures Spread Is Concerning Markets
When the futures spread is at a premium, or the premium rises, it could hamper the rise in natural gas prices.
Oil Futures Spread: Oversupply Concerns Still Loom
On October 10, 2017, US crude oil (USO) (DBO) (OIIL) November 2018 futures traded $0.46 higher than November 2017 futures.
Futures Spread: A Look at Natural Gas Supply–Demand Concerns
On October 4, 2017, natural gas (UNG) (GASL) November 2018 futures traded $0.08 above the November 2017 futures.
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).
Oil’s Contango: Supply–Demand Fears Could Impact the Market
On October 3, 2017, US crude oil (USL) (OIIL) November 2018 futures settled $0.33 higher than the November 2017 futures.
Are Natural Gas Supplies Overtaking Demand?
Futures spread On September 27, 2017, natural gas (FCG) (GASL) (BOIL) 2018 November futures traded $0.04 lower than November 2017 futures. That is, the futures spread was at a discount of $0.04. On September 20, 2017, the futures spread was at a discount of $0.10. Between September 20 and 27, 2017, natural gas November futures […]
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.
Understanding the Oil Futures’ Forward Curve
On September 26, 2017, US crude oil November 2017 futures traded just $0.14 below the November 2018 futures.
Futures Spread: Is the Natural Gas Market Turning Bullish?
On September 20, 2017, natural gas (FCG) (BOIL) October 2018 futures closed $0.10 below its October 2017 futures.
Inside the Oil Futures Spread: Why Traders May Be Turning Bullish
On September 19, 2017, US crude oil November 2018 futures settled at $0.97 higher than the November 2017 futures.
What the Natural Gas Futures Spread Tells Us about the Current Sentiment
On September 6, 2017, the futures spread was at a discount of $0.06, but on September 8, 2017, the futures spread shifted to a premium.
How Harvey and Irma Affected the Futures Spread amid Supply Glut Worries
On September 12, 2017, US crude oil (DBO) October 2018 futures settled at $2.09 above its October 2017 futures.
Analyzing the Natural Gas Futures Spread
On September 6, 2017, natural gas (UNG) October 2018 futures settled at a discount of $0.06 to October 2017 futures.
Have Oil Supply Glut Concerns Relaxed since Harvey?
On September 5, US crude oil October 2018 futures traded at a premium of $1.94 to October 2017 futures. On August 29, the premium was at $2.37.
Natural Gas: Analyzing the Futures Spread
On August 30, 2017, natural gas October 2018 futures traded at a discount of ~$0.03 to October 2017 futures.
Oil’s Futures Spread: Have Supply Glut Concerns Increased?
On August 29, 2017, US crude oil (USL) October 2018 futures traded at a premium of $2.37 to October 2017 futures.
Natural Gas Futures Spread: Analyzing Supply-Glut Concerns
On August 23, 2017, natural gas September 2018 futures traded at a discount of $0.03 to September 2017 futures.
Understanding the Futures Spread: Is Oil Supply Outpacing Demand?
On August 22, US crude oil October 2018 futures closed $1.04 higher than October 2017 futures. On August 15, the futures spread was at a premium of $0.76.
Short Sellers and Occidental Petroleum Stock
As of July 31, 2017, Occidental’s (OXY) total shares shorted (or short interest) stood at ~10.15 million, while its average daily volume was ~4.83 million.
Analyzing Short Interest in California Resources Stock
As of July 31, 2017, California Resources’ (CRC) total shares shorted (or short interest) stood at ~16.3 million.
Futures Spread: Has Natural Gas’s Oversupply Concern Eased?
On August 16, 2017, natural gas (FCG) September 2018 futures traded at a discount of $0.02 to September 2017 futures.
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.
What’s the Short Interest in Encana Stock?
As of July 31, 2017, Encana’s (ECA) total shares shorted (or short interest) stood at ~16.6 million, while its average daily volume is ~13.4 million.
What’s the Short Interest in Marathon Oil Stock?
As of July 31, 2017, Marathon Oil’s (MRO) total shares shorted (or short interest) stood at ~42.7 million.
Denbury Resources: Post-Earnings Wall Street Ratings
On August 9, 2017, ~63.6% of the 11 analysts covering Denbury Resources (DNR) gave “hold” recommendations on its stock.
Natural Gas Futures Spread: What Investors Should Know
On August 9, 2017, natural gas September 2018 futures traded $0.005 below September 2017 futures.
What Investors Can Dig from the Oil Futures Spread
On August 8, 2017, US crude oil September 2018 futures settled $0.80 above the September 2017 futures. On August 1, 2017, the premium was at $0.73.
Futures Spread: Should Natural Gas Traders Worry?
On August 2, 2017, natural gas (BOIL) (GASL) futures for delivery in September 2018 traded at a premium of $0.03 to futures deliverable in September 2017.
Devon Energy: Analysts’ Ratings after Its 2Q17 Earnings
As of August 2, eight analysts rated Devon Energy as a “strong buy,” 14 analysts rated it as a “buy,” and 12 analysts rated it as a “hold.”
What Futures Hold: Good News for Oil Bulls?
Futures spread On August 1, 2017, US crude oil (USO) (DBO) (USL) September 2018 futures settled at $0.73 above September 2017 futures. On July 25, 2017, the premium was $1.30. US crude oil futures rose 2.7% between July 25 and August 1, 2017. Contango In “contango,” the curve of futures contract prices plotted according to […]
Occidental Petroleum: Pre-Earnings Wall Street Ratings
Recommendations As of July 24, 2017, most of the 23 analysts (60.9%) covering Occidental Petroleum (OXY) had “hold” recommendations. Four analysts recommended “strong buy,” three analysts recommended “buy,” 14 analysts recommended “hold,” one analyst recommended “sell,” and one analyst recommended “strong sell.” Target price Analysts have given a median target price of $65.50, which is ~10% higher […]
Futures Spread: Is More Pain Ahead for Natural Gas?
On July 26, 2017, natural gas September 2018 futures were just $0.06 below the September 2017 futures. On July 19, 2017, the spread was at $0.15.
Devon Energy’s Stock Range until Its 2Q17 Earnings Release
As of July 25, 2017, Devon Energy (DVN) had an implied volatility of ~33.6%, which is lower than its implied volatility of ~33.9% on May 18, 2017.
Futures Spread: What Does It Indicate for Oil Prices?
On July 25, 2017, US crude oil (DBO) September 2018 futures were priced $1.27 higher compared to September 2017 futures.
ConocoPhillips: Wall Street Ratings before Its 2Q17 Earnings
On July 20, 2017, ~66.7% of the 24 analysts covering ConocoPhillips (COP) gave “strong buy” or “buy” recommendations on COP.
Does the Natural Gas Futures Spread Indicate Bullishness?
On July 19, 2017, natural gas (GASL) (FCG) 2017 August futures settled $0.15 above natural gas 2018 August futures.
Why Oil Rigs Could Hinder Natural Gas’s Recent Gains
In the week ended July 14, 2017, the natural gas rig count fell by two. However, in the trailing year, the natural gas rig count has more than doubled.
What Wall Street Analysts Are Saying about ConocoPhillips
On July 14, 2017, ~69.6% of the total analysts covering ConocoPhillips (COP) gave “buy” or higher recommendations on the stock.
Natural Gas Futures Spread: Have Supply-Glut Concerns Eased?
On July 12, 2017, natural gas (BOIL) August 2017 futures settled at $0.11 above the August 2018 futures.
Oil Futures’ Forward Curve: What Does the Market Expect?
On July 11, 2017, US crude oil (OIIL) August 2018 futures contracts settled at $2.4, higher than oil’s 2017 August futures contracts.
What’s Analysts’ Current Read on ConocoPhillips?
On July 10, 2017, ~71% of the 24 analysts covering ConocoPhillips (COP) had “strong buy” or “buy” ratings on its stock.
The Natural Gas Futures Spread: Are Supply Glut Fears Back?
On July 5, 2017, natural gas (GASL) August 2018 futures closed just $0.03 lower than August 2017 futures. On June 28, 2017, the spread was $0.18.
Futures Forward Curve Adjusts to Oil’s Recovery
On July 3, 2017, US crude oil (OIIL) (USO) August 2018 futures settled $2.2 above August 2017 futures. The premium, or spread, was $2.4 on June 26, 2017.
Have COP’s Ratings Changed since Its Barnett Announcement?
On June 30, 2017, 28% of all analysts covering ConocoPhillips (COP) had “strong buy” recommendations on the stock.
What Wall Street Analysts Are Saying About ConocoPhillips
Recommendations As of June 28, 2017, the majority of, or ~72%, of the 24 analysts covering ConocoPhillips (COP) gave “strong buy” or “buy” recommendations for the stock. Seven analysts recommended “strong buy,” 11 analysts recommended “buy,” and seven analysts recommended “hold.” There were no “strong sell” or “sell” recommendations. Target price The analysts gave a median target price […]
Why the Natural Gas Inventory Spread Supports Its Recent Recovery
In the week ended June 16, 2017, natural gas inventories rose 61 Bcf (billion cubic feet) to 2,770 Bcf based on EIA data released on June 22, 2017.
Oil Rigs: Will They Make Oil Recovery a Bull Trap?
In the week ended June 23, 2017, the US oil rig count rose by 11 and touched 758.
What Wall Street Analysts Are Saying about ConocoPhillips
As of June 23, 2017, ~72% of Wall Street analysts covering ConocoPhillips (COP) have “strong buy” or “buy” recommendations on the stock.
Natural Gas Inventories Spread: Savior for Natural Gas Bulls?
The EIA reported that natural gas inventories rose by 78 Bcf (billion cubic feet) to 2,709 Bcf in the week ending June 9, 2017.
What Wall Street Analysts Are Saying about ConocoPhillips
As of June 16, 2017, 45.8% of the 24 total analysts covering ConocoPhillips (COP) have a “buy” recommendation for ConocoPhillips (COP).
Analyzing Short Interest in Encana Stock
Encana’s short interest as a percentage of shares outstanding increased marginally from ~1.9% to ~2.2%, despite an ~17% decrease in its stock price since the start of 2017.
How Short Interest in Stone Energy Stock Is Evolving
On May 31, 2017, Stone Energy’s (SGY) total shares shorted (or short interest) stood at ~0.58 million, whereas its average daily volume was ~0.14 million.
Understanding Stone Energy’s 2Q17 Hedges
As of March 31, 2017, Stone Energy (SGY) had fixed price swaps, two-way collars, and put options on NYMEX WTI (West Texas Intermediate) crude oil (USO).
What’s in the Natural Gas Inventory Spread—Bears?
In the week ended June 2, 2017, natural gas inventories rose by 106 Bcf.
Chart in Focus: The Natural Gas Inventory Spread
Between January 27–June 7, 2017, natural gas active futures fell 10.9%. Natural gas inventories moved above their five-year average in the week ended January 27, 2017.
Is Natural Gas Reacting to the US Dollar?
Between March 3, 2016–June 7, 2017, natural gas active futures rose 84.1% while the US dollar fell 0.8%.
Is Crude Oil Ignoring the Falling Dollar?
Between May 30 and June 6, 2017, the US dollar (UUP) (USDU) (UDN) fell 0.7%, and crude oil (USO) (OIIL) July futures fell 3%.
ConocoPhillips on the Street: What the Analysts Have to Say
As of June 2, 2017, ~46% of the total 24 analysts covering ConocoPhillips (COP) have given “buy” recommendations on ConocoPhillips (COP) stock.
Is the US Dollar a Factor in Natural Gas’s Current Downturn?
The US dollar (UUP) (UDN) (USDU) fell 0.3% between May 24 and May 31, 2017.
Why the Inventory Spread Could Make Natural Gas Bulls Happy
On a week-over-week basis, natural gas inventories rose by 75 Bcf (billion cubic feet) and were at 2,444 Bcf for the week ended May 19, 2017.
Is the US Dollar Impacting Oil’s Downturn?
In the trailing week, the US dollar fell 0.1%. Despite a fall in the US dollar, crude oil July futures fell 3.5% between May 23 and May 30, 2017.
Recent Fall in the US Dollar: Crucial for Natural Gas?
Natural gas (GASX) (FCG) (GASL) July futures rose 0.5% on May 17–May 24, 2017. During this period, the US dollar (UUP) (UDN) (USDU) fell 0.3%.
Natural Gas Inventory Spread Is Falling: Will Gas Prices Soar?
According to EIA data announced on May 18, there was an addition of 68 Bcf to natural gas (GASX) (FCG) (GASL) inventories for the week ending May 12, 2017.
How the Dollar Is Affecting Oil
US crude oil (DBO) (USL) (OIIL) July futures rose 5% between May 16 and May 23, 2017.
How the Dollar Could Impact Oil’s Recovery
US crude oil (DBO) (USL) (OIIL) futures contracts for June 2017 delivery rose 3.7% between May 10 and May 17, 2017.
Natural Gas Prices Are Impacted by the US Dollar
Between May 3 and May 10, 2017, natural gas (GASX) (FCG) (GASL) June futures rose 2%. The US dollar (UUP) (UDN) (USDU) rose 0.5% during that period.
Is the Natural Gas Inventory Spread Optimistic?
According to data from the EIA on May 4, natural gas (GASX) (FCG) (GASL) inventories rose by 67 Bcf (billion cubic feet) during the week ending April 28.
Oil Bulls, Don’t Worry About the Rising US Dollar
US crude oil futures contracts for June 2017 delivery fell 3.7% between May 2, and May 9, 2017, while the US Dollar Index rose 0.7%.
How Much the US Dollar Is Impacting Natural Gas Now
Between April 26 and May 3, 2017, natural gas June futures fell 1.3%. The US dollar rose 0.2% during that period.