Direxion Daily Energy Bear 3x Shares
Latest Direxion Daily Energy Bear 3x Shares News and Updates
Non-OPEC Crude Oil Production: Will It Impact Oil Prices in 2017?
Figures from the EIA suggest that non-OPEC crude oil production rose by 350,805 bpd to 44.6 MMbpd in September 2016—compared to the previous month.
US Retail Gasoline Prices Rose for 3rd Time in 14 Weeks
The EIA (U.S. Energy Information Administration) reported that US retail gasoline prices rose 0.9% week-over-week and settled at $2.24 per gallon for the week ending October 3, 2016.
Iran’s Crude Oil Production Could Help Crude Oil Bulls
The EIA estimates that Iran’s crude oil production was flat at 3.8 MMbpd (million barrels per day) in March 2017—compared to February 2017.
What Will Happen if the Oil Producer Meeting Succeeds?
October WTI (West Texas Intermediate) crude oil futures contracts were up by 1% to $45.31 per barrel in electronic trade at 5:15 AM EST on September 7, 2016.
Is this Summer a Good Time to Invest in Energy?
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.
US Dollar Index Fell: How Will It Impact Crude Oil Prices?
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.
How the Dollar Is Affecting Oil
US crude oil (DBO) (USL) (OIIL) July futures rose 5% between May 16 and May 23, 2017.
Will US Crude Oil Futures Surpass their 200-Day Moving Average?
Let’s track some important events for oil and gas traders from August 14 to 18, 2017.
Traders Focus on the API and EIA’s Crude Oil Inventories
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.
Will Saudi Arabia Remove Excess Oil from the Market?
Saudi Arabia is expected to cut exports 10% to North Asian refiners in September 2017 due to OPEC’s production cut deal.
Can the US Dollar Limit Oil’s Upside?
US crude oil futures contracts for May delivery rose 5.5% between March 28, 2017, and April 4, 2017. The US Dollar Index rose 0.9% during that period.
US Crude Oil and Gasoline Futures Moved Together
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.
Why US Gasoline Demand Is Important for Crude Oil Prices
The EIA reported that the weekly US gasoline demand rose 320,000 bpd (barrels per day) to 9,118,000 bpd from October 14–21, 2016.
Why Investors Are Tracking US Gasoline Demand
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.
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%.
Hedge Funds’ Net Long Positions in US Crude Oil Rose Again
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.
Crude Inventories Rose as US Refinery Crude Demand Fell
The EIA reported that US refinery crude oil demand fell by 255,000 barrels per day to 16,597,000 bpd between July 29 and August 5.
Could Major Oil Producers’ Production Cut Extend to 2H17?
Crude oil prices rose between November 15 and December 28, 2016, due to the expectation that major oil producers’ production cuts would curb oversupply.
How the US Dollar Could Be Crucial to Oil Investors
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%.
Will US Crude Oil Futures Rise above $50 per Barrel This week?
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.
Near-Record US Crude Oil Inventory: Will Oil Blood Bath Continue?
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.
Could Iran Influence the Crude Oil Market?
On August 23, Reuters reported that Iran showed interest in joining major oil producers’ meeting meant to freeze output and support crude oil prices.
Is the Supply Side of the Crude Oil Market Rebalancing?
Citigroup estimates that global crude oil supply outages could currently be around 3.5 MMbpd (million barrels per day).
US Distillate Inventories Fell for the Fourth Consecutive Week
The EIA reported that US distillate inventories fell by 2.7 MMbbls (million barrels) to 161.5 MMbbls between February 24, 2017, and March 3, 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.
Did the US Dollar Impact Oil Prices Last Week?
US crude oil (DBO) (USL) (OIIL) futures contracts for June 2017 delivery fell 3.8% between April 25, 2017, and May 2, 2017.
Supply, Demand: Will Crude Oil Futures Rally Be Short-Lived?
August WTI (West Texas Intermediate) crude oil futures contracts rose 1.0% and closed at $45.49 per barrel on Wednesday, July 12, 2017.
Gasoline Futures Fell from 20-Month Highs
Gasoline futures contracts for May delivery fell 3% to $1.65 per gallon on April 19, 2017. Prices fell due to the surprise build in US gasoline inventories.
Will Saudi Arabia’s Crude Oil Export Plans Rescue Oil Prices?
Saudi Arabia is the largest crude oil producer and exporter among the OPEC (Organization of the Petroleum Exporting Countries) member countries.
US Dollar: Will It Impact Oil’s Upside?
US crude oil (DBO) (USL) (OIIL) futures contracts for May delivery rose 4.6% between April 4, 2017, and April 11, 2017.
US Crude Oil Production Is near August 2015 High
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.
US Gasoline Demand: Bullish or Bearish for Oil Prices?
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.
Is the US Dollar’s Fall Helping Oil?
US crude oil futures contracts for June delivery fell 1.7% between April 11, 2017, and April 18, 2017. The US Dollar Index fell 1.2% during that period.
US Distillate Inventories Fall from a 6-Year Seasonal High
The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 3.7 MMbbls (million barrels) to 157 MMbbls between September 30 and October 7.
Fall in US Refinery Demand and Imports Impacted Inventories
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.
Will Saudi Arabia’s Production and Exports Support Crude Oil Futures?
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: Lowest Level since November 2016
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 for the First Time since February
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’s Monthly Report Could Pressure Oil Prices
OPEC will release its Monthly Oil Market Report on July 12, 2017. OPEC’s crude oil production rose in June 2017.
Will US Crude Oil Inventories Fall and Support Oil Prices?
February WTI (West Texas Intermediate) crude oil futures contracts fell 0.2% to $53.2 per barrel in electronic trade at 4:50 AM EST on January 5, 2017.
Gasoline Demand: Important for Crude Oil Bulls
The EIA reported that US gasoline demand rose by 114,000 bpd to 9.8 MMbpd from July 8–15, 2016.
US Crude Oil Inventories Hit a New Record
The EIA (U.S. Energy Information Administration) reported that US crude oil inventories rose by 1.6 MMbbls to 535.5 MMbbls from March 24–31, 2017.
OPEC’s Falling Production Might Impact US Crude Oil Production
Major producers’ production cut deal led to a fall in OPEC’s crude oil production by 30,000 bpd to 32.19 MMbpd in February 2017—compared to January 2017.
Is US Crude Oil Production at a Turning Point?
The EIA reported that monthly US crude oil production rose by 510,000 bpd to 8,744,000 bpd in August 2016—compared to the previous month.
Will the Energy Sector Suffer Further amid Trade War Concerns?
After oil ran up in early July to over $75 per barrel, it has been heading straight down since then (below $65 as of the writing of this article).
Could Energy Continue Its Wild Ride in 2018?
From the presidential election in November 2016 through August 2017, the energy sector saw its worst time.
Should Energy Stocks Go in Your Back-to-School Shopping Basket?
The energy sector, as tracked by the Energy Select Sector SPDR Fund (XLE), has lost ~17.0% year-to-date as of August 31.
OPEC’s Crude Oil Production and Exports Impact Crude Oil Prices
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.
Cushing Inventories: Bullish or Bearish for Crude Oil Prices?
A market survey estimates that Cushing crude oil inventories has risen between September 8 and September 15.
What to Watch: This Week’s Key Crude Oil Price Drivers
Let’s track some important events for crude oil and natural gas traders from September 11 to 15, 2017.
US Gasoline Futures Hit 2-Year High despite Inventory Rise
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 […]
US Crude Oil Inventories Fall in Line with Market Expectations
A Reuters survey estimated that US crude oil inventories would fall 3.5 MMbbls between August 11, 2017, and August 18, 2017.
EIA Upgrades US Crude Oil Production Estimates for 2017 and 2018
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.
US Gasoline Inventories Fell, Supported Gasoline Oil Prices
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.
Why US Gasoline Demand Rose for 2nd Consecutive Month
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.
Will US Crude Oil Production Slow Down in 2018?
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.
US Gasoline Inventories Drive Gasoline and Crude Oil Prices
The EIA reported that US gasoline inventories fell by 4.4 MMbbls (million barrels) to 231.2 MMbbls on July 7–14, 2017.
US Gasoline Inventories Support Gasoline, Crude Oil Futures
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.
Analyzing Hedge Funds’ Net Long Position on US Crude Oil
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.
US Distillate Inventories Fell for the Second Straight Week
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 and Production: Crucial for Oil Prices
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.
How Long Can US Gasoline Inventories Support Crude Oil Bulls?
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.
US Gasoline Demand: Positive or Negative for Crude Oil?
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.
Cushing Inventories Fell for the Ninth Time in 10 Weeks
The EIA (U.S. Energy Information Administration) will release weekly data on crude oil and gasoline inventories on June 28, 2017.
Cushing Crude Oil Inventories Fell Again
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.
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%.
US Gasoline Consumption Rose in May
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.
US Gasoline Demand Could Hit a Peak This Summer
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.
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.
Will the Energy Sector Lag in Summer Months?
2016 proved fruitful for the energy sector (XLE) with an improvement in oil prices (USO) (USL).
WTI Crude Oil and Gasoline Futures Diverge
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.
US Gasoline Inventories Fell for 8th Straight Week
The EIA (U.S. Energy Information Administration) reported that US gasoline inventories fell 2.9 MMbbls (million barrels) to 236.1 MMbbls between March 31, 2017, and April 7, 2017.
How Oil Prices Might React to More Rate Hikes
US crude oil (DBO) (USL) (OIIL) futures contracts for May delivery fell 0.2% between March 14, 2017, and March 21, 2017.
Can Oil Prices Survive the Looming Fed Rate Hike?
US crude oil futures contracts for April delivery fell 10.2% between March 7, 2017, and March 14, 2017.
EIA Reported a Surprise Draw in US Gasoline Inventories
The EIA reported that US gasoline inventories fell by 0.9 MMbbls (million barrels) to 256.2 MMbbls between January 27, 2017, and February 3, 2017.
What’s the Outlook for Oil and Energy in 2017?
Despite skepticism about the efficacy of OPEC’s agreement, we think that oil (USO) (UCO) is set to rise in the medium term.
Decoding the World Oil Supply and Demand Gap in 2017
The EIA estimates that the world oil supply and demand gap averaged 780,000 bpd (barrels per day) in 1H16. It’s expected to average 650,000 bpd in 2H16.
Hedging with an Inverse ETF
Hedge with an inverse ETF Finally, there are exchange-traded funds. These tools may be used when seeking to hedge the market. As their name reveals, inverse ETFs go up when the market goes down, and they go down when the market goes up. Inverse ETFs allow you to seek the opposite return of specific sectors, […]
Crude Oil Prices Rose before Saudi Arabia and Russia’s Talks
The US equity and options markets were closed on September 5. However, crude oil prices rose by 4.7% in electronic trade during early trade on September 5.
How US Dollar Could Influence Crude Oil Prices This Week
October West Texas Intermediate crude oil futures contracts rose by 3.0% and settled at $44.44 per barrel on September 2, 2016.
Will US Gasoline Demand Rise in 2016 and 2017?
The EIA (U.S. Energy Information Administration) reported that the four-week average US gasoline demand was almost flat at 9,751,000 bpd (barrels per day) for the week ending July 29, 2016.
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.
Will Crude Oil’s Supply and Demand Balance Narrow or Widen?
In a recent Short-Term Energy Outlook Report, the EIA estimated that the global crude oil supply and demand gap averaged 1.2 MMbpd in 1H16.
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%.
Crude Oil Prices Rise on Expectations of a Fall in US Inventories
WTI and Brent crude oil prices have risen by more than 80% since their lows in February 2016, but they’ve still fallen by 55% compared to their 2014 highs.
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.
Gasoline Prices: Roller Coaster Ride Continues in 2016
May gasoline futures trading in NYMEX rose by 0.7% and settled at $1.39 per gallon on April 6. Gasoline prices rallied almost 30% from the lows in February.
