Direxion Daily Energy Bear 3x Shares

So far this year, the S&P 500 energy sector has struggled mightily, down 12% versus an almost 9.5% gain in the S&P500 this year.

The US Dollar Index fell 0.5% to 98.3 on October 28, 2016. It fell due to political uncertainty in the US. It had risen earlier in the morning on October 28.

US crude oil (DBO) (USL) (OIIL) July futures rose 5% between May 16 and May 23, 2017.

Let’s track some important events for oil and gas traders from August 14 to 18, 2017.

On May 16, 2017, the API released its weekly crude oil inventory report. US crude oil inventories rose by 0.8 MMbbls (million barrels) on May 5–12, 2017.

Saudi Arabia is expected to cut exports 10% to North Asian refiners in September 2017 due to OPEC’s production cut deal.

June gasoline futures contracts rose 1.3% to $1.53 per gallon on May 3, 2017. Prices rose due to the less-than-expected rise in US gasoline inventories.

The EIA (U.S. Energy Information Administration) estimated that four-week average US gasoline demand fell by 80,000 bpd to 9,237,000 bpd on April 14–21.

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%.

Hedge funds increased their net bullish positions in US crude oil futures and options rose by 36,834 contracts to 215,488 contracts on July 11–18, 2017.

US crude oil futures contracts for June delivery fell 6.2% between April 18, 2017, and April 25, 2017. Meanwhile, the US Dollar Index fell 0.7%.

September US crude oil prices are on a rollercoaster ride in 2017 due to bullish and bearish drivers. US crude oil prices are near a two-month high.

June WTI crude oil futures contracts fell 0.40% and were trading at $48.68 per barrel in electronic trade at 2:35 AM EST on May 2, 2017.

US crude oil (DBO) (USL) (OIIL) futures contracts for June 2017 delivery rose 3.7% between May 10 and May 17, 2017.

US crude oil (DBO) (USL) (OIIL) futures contracts for June 2017 delivery fell 3.8% between April 25, 2017, and May 2, 2017.

August WTI (West Texas Intermediate) crude oil futures contracts rose 1.0% and closed at $45.49 per barrel on Wednesday, July 12, 2017.

Saudi Arabia is the largest crude oil producer and exporter among the OPEC (Organization of the Petroleum Exporting Countries) member countries.

The EIA (U.S. Energy Information Administration) reported that US crude oil production rose by 13,000 bpd (barrels per day) to 9,265,000 bpd on April 14–21.

The EIA (U.S. Energy Information Administration) estimated that four-week average US gasoline demand rose by 6,000 bpd to 9,317,000 bpd on April 7–14.

US refineries operated at 91.5% of their operable capacity in the week ending May 5, 2017. The US refinery demand fell for the second consecutive week.

The EIA (U.S. Energy Information Administration) estimates that Saudi Arabia’s crude oil production rose by 50,000 bpd (barrels per day) to 10.20 MMbpd (million barrels per day) in July 2017 compared to the previous month.

Cushing inventories could have fallen on June 30–July 7, 2017. Crude oil inventories at Cushing have fallen for the seventh straight week.

US crude oil production fell by 9,000 bpd to 9,305,000 bpd on May 5–12, 2017. Production fell 0.1% week-over-week, but rose 5.8% year-over-year.

OPEC will release its Monthly Oil Market Report on July 12, 2017. OPEC’s crude oil production rose in June 2017.

From the presidential election in November 2016 through August 2017, the energy sector saw its worst time.

The energy sector, as tracked by the Energy Select Sector SPDR Fund (XLE), has lost ~17.0% year-to-date as of August 31.

The EIA estimates that OPEC’s crude oil production fell by 150,000 bpd to 32.77 MMbpd (million barrels per day) in August 2017—compared to July 2017.

A market survey estimates that Cushing crude oil inventories has risen between September 8 and September 15.

Let’s track some important events for crude oil and natural gas traders from September 11 to 15, 2017.

 US gasoline inventories The U.S. Energy Information Administration reported that US gasoline inventories rose 35,000 barrels to 229.9 MMbbls (million barrels) between August 18 and 25, 2017. Inventories fell 2.1 MMbbls, or 0.9%, from the same period in 2016. For the third time in five weeks, inventories rose. A market survey estimated that US gasoline […]

A Reuters survey estimated that US crude oil inventories would fall 3.5 MMbbls between August 11, 2017, and August 18, 2017.

The EIA released its Short-Term Energy Outlook report on August 8, 2017. It estimates that US crude oil production could average 9.35 MMbpd in 2017.

The EIA reported that US gasoline inventories fell 1.1% or by 2.5 MMbbls (million barrels) to 227.7 MMbbls on July 21–28, 2017.

The EIA (US Energy Information Administration) estimates that US gasoline demand rose 1.5% to 9.6 MMbpd (million barrels per day) in May 2017 compared to May 2016.

The EIA reported that US crude oil production fell by 19,000 bpd (barrels per day) to 9,410,000 bpd on July 14–21, 2017.

The EIA reported that US gasoline inventories fell by 4.4 MMbbls (million barrels) to 231.2 MMbbls on July 7–14, 2017.

The EIA reported that US gasoline inventories fell 1.6 MMbbls (million barrels) to 235.6 MMbbls between June 30, 2017, and July 7, 2017.

Hedge funds increased their net long positions in US crude oil futures and options by 16,345 contracts to 149,951 contracts on June 27–July 4, 2017.

The EIA reported that US distillate inventories fell by 1.8 MMbbls (million barrels) or 1.2% to 150.4 MMbbls on June 23–30, 2017.

Iran’s crude oil exports are expected to fall 7% in July 2017, according to Reuters. Exports are expected to fall to 1.86 MMbpd in July 2017.

The EIA (U.S. Energy Information Administration) reported that US gasoline inventories fell by 0.1 MMbbls to 241 MMbbls on June 16–23, 2017.

The EIA (U.S. Energy Information Administration) estimates that weekly US gasoline demand rose by 547,000 bpd or 6% to 9,816,000 bpd on June 9–16, 2017.

The EIA (U.S. Energy Information Administration) will release weekly data on crude oil and gasoline inventories on June 28, 2017.

A recent survey estimated that inventories at Cushing could have fallen on June 2–9, 2017. Inventories at Cushing fell for the seventh time in ten weeks.

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%.

The EIA estimates that US gasoline consumption averaged 9,600,000 bpd (barrels per day) in May 2017—0.16 MMbpd higher than the same period in 2016.

The EIA estimated that four-week average US gasoline demand rose by 124,000 bpd (barrels per day) to 9,430,000 bpd on May 12–19, 2017.

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.

2016 proved fruitful for the energy sector (XLE) with an improvement in oil prices (USO) (USL).

US gasoline futures contracts for June delivery fell 0.1% to $1.60 per gallon on May 17, 2017. Prices fell due to a lower fall in US gasoline inventories.