Fidelity MSCI Energy Index ETF
Latest Fidelity MSCI Energy Index ETF News and Updates
Crude Oil Inventories Rose despite Oil Demand from US Refineries
The rise in US crude oil production would have contributed to the rise in US crude oil inventories between October 28 and November 4, 2016.
Crude Oil Is Firming: Are Traders Looking for a Breakout?
US crude oil April futures rose 0.4% in the week ending on February 24, 2017. WTI crude oil April futures closed at $53.99 per barrel on February 24.
WTI Crude Oil: Where It Could Settle This Week
Crude oil’s (USO) (DBO) (USL) (OIIL) implied volatility was 26.6% on April 28, 2017, which was 4.6% above its 15-day average.
EIA and API Crude Oil Inventories Will Benefit Crude Oil Prices
The API released its weekly crude oil inventories report on July 6. US crude oil inventories fell by 6.7 MMbbls for the week ending July 1, 2016.
US Gasoline Demand Is Important for Crude Oil Bulls
The EIA estimated that four-week average US gasoline demand rose by 134,000 bpd (barrels per day) to 9,102,000 bpd from March 10–17, 2017.
Global Crude Oil Supply Outages Are near a 6-Year Low
Global crude oil supply outages are near the six-year low. Any fall in the crude oil supply outage could increase the supplies and pressure oil prices.
Why the Equity Market Could Be Dragging Oil Prices Down
On March 19, US crude oil May futures fell 0.4% and settled at $62.13 per barrel. US crude oil May futures made a high of $62.44 per barrel.
Will Saudi Arabia Cause Colossal Damage for Crude Oil Futures?
According to the Wall Street Journal, Saudi Arabia’s crude oil production hit 10.7 MMbpd (million barrels per day) in June 2017.
Will Crude Oil Prices Breach $60 per Barrel in 1H17?
Goldman Sachs expects Brent crude oil to average $58 per barrel in 2H17. Likewise, it expects WTI crude oil prices to average $57.50 per barrel.
Why Did Crude Oil Prices Rise?
On February 9, 2017, US crude oil futures contracts for March delivery closed at $53.00 per barrel—an ~1.3% rise compared to the previous trading session.
Crude Oil Reverses as US Dollar Hits 14-Year High
February WTI (West Texas Intermediate) crude oil (PXI) (XOP) (XES) (IEZ) (ERX) (USL) (ERY) futures contracts fell 2.6% and settled at $52.33 per barrel on January 3, 2017.
US Crude Oil Inventories Could Reach Record Levels
On February 22, the API will release its weekly crude oil inventory report. US crude oil inventories could have risen from February 10–17, 2017.
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.
Crude Oil Prices Fall: Strong Dollar and Oversupply to Blame
June WTI crude oil futures contracts trading on NYMEX fell 0.85% and closed at $47.75 per barrel on Friday, May 20. Crude oil prices fell due to profit-booking and a strong dollar.
Are Crude Oil Prices on the Verge of Collapsing?
Crude oil prices fell due to the API’s bearish crude oil inventory report. Prices have been trading between $50 per barrel and $54 per barrel since January.
Reality Check: Major Oil Producers’ Output Cut Plans
Crude oil prices have risen ~15% since November 2016 due to the expectation that major oil producers’ production cuts would curb oversupply in the market.
Can OPEC and Russia Rescue the Oil Market?
The EIA estimates that OPEC’s crude oil production rose by 90,000 bpd to 31.71 MMbpd (million barrels per day) in April 2017—compared to March 2017.
Why Oil Rigs Could Stymie Oil’s Gains
For the week ended December 29, 2017, the US oil rig count was unchanged at 747, but it has risen 42.3% from last year.
Can Chevron Stand up to Exxon Mobil?
But XOM managed to generate positive segment revenue and earnings in 2016, which places XOM in a better position than CVX for dividend chasers.
What Investors Can Expect from Crude Oil Prices
April WTI crude oil prices are at a three-month low as of March 13. So far, crude oil prices and broader markets such as the S&P 500 are diverging in 2017.
Why Did US Distillate Inventories Fall Again?
June diesel futures contracts rose 2.1% to $1.47 per gallon on May 10, 2017. Prices rose due to the larger-than-expected fall in distillate inventories.
OPEC Upgrades Non-OPEC and US Crude Oil Production
US crude oil production increased by 332,000 bpd (barrels per day) to a record high of 10,251,000 bpd on January 26–February 2, 2018.
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.
Oil Traders Focus on US Crude Oil Inventories
On January 31, the API released its weekly crude oil inventory report. It reported that US crude oil inventories rose by 5.8 MMbbls from January 20–27.
Why US Crude Oil Production Could Hit a Record High in 2018
US crude oil production According to the EIA (U.S. Energy Information Administration), US crude oil production rose 13,000 bpd (barrels per day) to 9,658,000 bpd between November 10 and 17, 2017. Production, which rose for the fifth straight week, has been pressuring oil (SCO) prices in the last few weeks. Production has risen 977,000 bpd (11.3%) year-over-year. Any […]
Crude Oil Prices Skyrocket before OPEC’s Meeting
Crude oil prices rose on November 15, 2016. However, expectations of a bearish crude oil inventory report could pressure crude oil prices.
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.
How OPEC and Non-OPEC Producers Affect Crude Oil Prices
Crude oil (BNO) (PXI) (USL) (USO) (UCO) prices were up ~4% between December 7, 2016, and December 19, 2016.
OPEC’s Crude Oil Production Hit a Record
OPEC’s crude oil production rose by 236,700 bpd (barrels per day) to 33,643,000 bpd in October 2016—compared to the previous month.
Brent and WTI Crude Oil Prices Diverge
December WTI crude oil futures contracts fell marginally by 0.52% and closed at $40.54 per barrel on Thursday, November 19, 2015.
What We Could Expect for Oil Prices
Oil rig data The US oil rig count rose by two to 766 in the week ended July 28, 2017. Year-over-year, the oil rig count has surged by more than twofold, with US crude oil active futures gaining 22.7%. Since the high of 9.6 million barrels per day in the week ended June 5, 2015, […]
Will Saudi Arabia’s Crude Oil Production and Exports Hit a New Low?
Saudi Arabia’s crude oil production is expected to fall to 9.77 MMbpd (million barrels per day) in November 2017, according to Saudi Aramco.
Decoding the Major Oil Producers’ Meeting in Algeria
OPEC producers’ meeting was held from September 26–28, 2016. Crude oil prices rose 12% in August 2016 due to speculation about the meeting’s outcome.
OPEC Mania Is Back: Will Crude Oil Soar?
US crude oil rose on November 18 due to the market’s belief that OPEC (Organization of the Petroleum Exporting Countries) members might cut their output.
US Crude Oil Production Hit a 10-Month High: What’s Next?
The EIA (U.S. Energy Information Administration) reported that US crude oil production rose by 24,000 bpd (barrels per day) to 9,001,000 bpd between February 10 and February 17, 2017.
Crude Oil Prices in 2016: Crucial Support and Resistance Levels
Crude oil has rallied by almost 40% in the past two months. But prices have fallen by 65% since June 2014. Oil prices have breached key moving averages.
Bullish Oil Traders Must Count the Oil Rigs
On November 24, 2017, US crude oil settled at the highest closing price in 2017. The oil rig count could be at a three-year high by May 2018.
Goldman Sachs: OPEC and Russia Could Pressure Oil Prices
Goldman Sachs (GS) thinks that a rise in production from OPEC, Russia, and the US in 2H18 could lead to renewed oversupply by the end of 2018.
EIA and IEA Expect US Crude Oil Production to Rise in 2017
The EIA estimates that US crude oil production will rise by 110,000 bpd to 9,000,000 bpd in 2017—compared to 2016.
Hedge Funds’ Net Bullish Positions on US Crude Oil
Hedge funds reduced their net bullish positions in US crude oil futures and options by 1,136 contracts to 133,606 contracts on June 20–27, 2017.
OPEC’s Spare Production Capacity Fell: Will It Impact Oil Prices?
The EIA estimated that OPEC’s spare crude oil production capacity fell by 36,277 bpd to 2.32 MMbpd in April 2017—compared to March 2017.
Analyzing Crude Oil’s Performance in the Commodity Sphere
US crude oil (USO) (OIIL) prices fell by 5.3% in the week ending July 22, 2016. On a closing price basis, crude oil closed at $44.19 per barrel on July 22.
Record US Crude Oil Inventories: Will the Blood Bath Continue?
A Bloomberg survey estimates that US crude oil inventories could have risen by 3 MMbbls from March 3–10. US crude oil inventories are at an all-time high.
Iran’s Crude Oil Exports Hit a Record: What’s Next?
A Reuters survey estimates that Iran’s crude oil production rose by 10,000 bpd to 3.77 MMbpd in March 2017—compared to the previous month.
Will the EIA’s Crude Oil Inventories Support Crude Oil Bulls?
On April 18, 2017, the API released its weekly crude oil inventory report. It reported that US crude oil inventories fell by 0.84 MMbbls from April 7–14.
Could US Crude Oil Production Push Production Cut Deal Past 2017?
The EIA reported that monthly US crude oil production rose 196,000 bpd to 9.0 MMbpd in February 2017.
How the Major Oil Producer Output Cut Plan Could Fail
Crude oil prices have risen ~20% since November 2016 due to the expectation that the major oil producers’ production cuts would curb oversupply in the market.
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.
US Diesel Futures Follow Crude Oil Prices
February 2017 NY Harbor ULSD futures fell and settled at $1.66 per gallon on December 21. Diesel futures fell despite the fall in distillate inventories.
Analyzing Saudi Arabia’s Crude Oil Export Strategy
On July 24, 2017, Saudi Arabia’s energy minister stated that the country would cut crude oil exports to 6.6 MMbpd in August 2017.
Why Major Banks Upgraded Crude Oil Price Forecasts
The rise in crude oil production from Libya and Iran in 2017 could pressure crude oil (PXI) (USL) (USO) (UCO) prices.
OPEC Spare Production Capacity Hit 2017 Low
The US Energy Information Administration estimated that OPEC’s spare crude oil production capacity fell by 170,000 bpd (barrels per day) to 2.01 MMbpd (million barrels per day) in June 2017.
Will Iran’s Crude Oil Production Pressure Crude Oil Prices?
OPEC estimated that Iran’s crude oil production rose by 22,300 barrels per day to 3.7 MMbpd in August 2016—compared to the previous month.
Gasoline Inventories Could Push Crude Oil Prices to a New Low
The API released its weekly inventory report on May 2, 2017. It estimated that US gasoline inventories fell by 1.9 MMbbls (million barrels) on April 21–28.
India’s Crude Oil Imports and Demand Impact Crude Oil Prices
India’s Petroleum Planning and Analysis Cell estimated that India’s crude oil imports rose 3.3% to 4.58 MMbpd in November 2016.
US Distillate Inventories Fell for the Third Straight Week
The EIA reported that US distillate inventories fell by 1.9 MMbbls (million barrels) to 146.8 MMbbls on May 5–12, 2017.
Is the US Capturing Crude Oil Market Share in China and India?
India is the third-largest crude oil consumer after the US and China. India is expected to import crude oil from the US by October 2017.
US Crude Oil Production: A Thorn for Crude Oil Bulls?
US crude oil production rose by 21,000 bpd to 9,314,000 bpd between April 28, 2017, and May 5, 2017. Production rose 0.2% week-over-week and 5.8% YoY.
Gasoline Inventories Could Fall from All-Time High Levels
The API released its weekly inventory report on February 22, 2017. It estimated that US gasoline inventories fell by 0.9 MMbbls from February 10–17, 2017.
Crude Oil Prices Fall as Chinese Stocks Tumble
WTI crude oil futures contracts for January delivery fell by 3.1% to close at $41.71 on Friday, November 27.
US and OECD’s Crude Oil Inventories Could Impact Oil’s Price Rally
US crude oil inventories decreased by 1.1 MMbbls to 411.6 MMbbls on January 12–19, 2018. They also fell ~12% in 2017.
Will There Be More Upside in the Oil Rig Count?
In the week ending May 4, the oil rig count rose by nine to 834—the highest level in more than three years.
Oil Rig Count: Is More Upside Possible?
In the week ending April 20, the oil rig count rose by five to 820—the highest level in more than three years.
Why the Oil Rig Count Could Concern Energy Investors
In the week ending March 30, 2018, the oil rig count fell by seven to 797. US crude oil prices and the oil rig count usually move in a pattern.
US Crude Oil Production Is near 1970 High
US crude oil production could hit a record high of 10,200,000 bpd in 2018, which would be the highest annual production average ever.
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.
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 Natural Gas Production and Consumption Could Impact Prices
According to PointLogic, US dry natural gas production increased by 0.3 Bcf (billion cubic feet) per day to 75.7 Bcf per day on January 11–17, 2018.
OECD’s Crude Oil Inventories: Trump Card for Crude Oil Bulls?
The EIA estimates that global crude oil inventories could rise in 2018 and 2019, which is bearish for oil prices.
What Could Be the High for US Crude Oil Next Week?
On January 11, 2018, US crude oil’s implied volatility was 18.2%. That was 5.2% above its 15-day average.
US Natural Gas Consumption Could Hit a Record in 2018 and 2019
US natural gas consumption fell 14.4% to 102.6 Bcf (billion cubic feet) per day on January 4–10, 2018, according to PointLogic.
Upside in US Crude Oil Next Week
On January 4, 2018, US crude oil’s implied volatility was 17.9%—2.9% above its 15-day average.
Cushing Inventories Could Boost Crude Oil Prices in 2018
Cushing inventories fell by 1,584,000 barrels to 51.4 MMbbls (million barrels) on December 15–22, 2017, according to the EIA.
Natural Gas Inventories Could Help US Natural Gas Prices
A larger-than-expected withdrawal in US natural gas inventories compared to historical averages would help natural gas prices this week.
Weekly US Crude Oil Production Fell for the 1st Time since October
US crude oil production declined by 35,000 bpd (barrels per day) or 0.4% to 9,754,000 bpd from December 15 to 22, 2017, per the EIA.
Cushing Inventories Rose for the First Time in Nearly 2 Months
Cushing inventories rose by 754,000 barrels or 1.4% to 52.9 MMbbls (million barrels) on December 8–15, 2017, according to the EIA.
Ignoring Oil Rig Data Could Cost Oil Bulls
Oil rig count In the week ended December 15, 2017, the US oil rig count fell by four to 747, and rose 50% from the same period last year. However, US crude oil prices rose only 10.1% from last year, showing how a higher oil rig count can limit oil prices. Often, oil prices fluctuate three to six months […]
Cushing Inventories: Largest Weekly Fall since 2009
Cushing inventories fell by 3,317,000 barrels to 52.2 MMbbls (million barrels) on December 1–8, 2017, according to the EIA.
US Distillate Inventories Fell for the First Time in 4 Weeks
US distillate inventories fell by 1.3 MMbbls (million barrels) to 128.1 MMbbls on December 1–8, 2017, according to the EIA.
US Gasoline Inventories Add More Pain to Crude Oil Futures
According to the EIA, US gasoline inventories rose by 6,780,000 barrels to 220.8 MMbbls (million barrels) on November 24–December 1, 2017.
Analyzing US Gasoline Inventories and Demand
The API reported that US gasoline and distillate inventories rose by 9,200,000 barrels and 4,300,000 barrels on November 24–December 1, 2017.
US Natural Gas Future Fell after the Natural Gas Inventory Report
The EIA released its natural gas inventory report on November 30, 2017. US natural gas inventories fell by 33 Bcf to 3,693 Bcf on November 17–24, 2017.
Improving US Crude Oil Drilling Costs and Oil Exports
US crude oil exports rose by 462,000 bpd or 41% to 1,591,000 bpd on November 10–17, 2017, according to the EIA.
How Long Can OPEC Extend the Production Cuts?
OPEC’s meeting will be held in Vienna on November 30, 2017. Crude oil (BNO) (DBO) (SCO) prices have risen 23% since September 2017.
US Natural Gas Inventories Have Fallen 8% from Last Year
The EIA estimated that US natural gas inventories fell by 46 Bcf (billion cubic feet) or 1.2% to 3,726 Bcf on November 10–17, 2017.
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 […]
Russian and US Crude Oil Exports Are Important for Oil Bears
US crude oil exports fell by 1,264,000 bpd or 60% to 869,000 bpd on October 27–November 3, 2017. Exports rose by 459,000 bpd from the same period in 2016.
Cushing Inventories: Analyzing Crude Oil Futures’ Rally
The EIA estimates that Cushing’s crude oil inventories rose by ~720,000 barrels to 64.5 MMbbls (million barrels) on October 27–November 3, 2017.
Cushing Inventories: Bears Could Outcast the Bulls
The EIA reported that Cushing’s crude oil inventories rose by ~100,000 barrels to 63.8 MMbbls (million barrels) on October 20–October 27, 2017.
How Long Will Production Cuts Help the Global Crude Oil Market?
The global oil supply is expected to average 97.99 MMbpd in 2017, which is 760,000 bpd or 0.8% higher than the oil supplies in 2016.
Will US Natural Gas Inventories Help Natural Gas Futures?
The EIA (or US Energy Information Administration) published its weekly US natural gas inventory report on October 26, 2017.
How Is US Natural Gas Production and Consumption Trending?
PointLogic estimates that weekly US dry natural gas production rose by 0.9 Bcf (billion cubic feet) per day to 74.6 Bcf per day between October 19 and October 25, 2017.
Surprise Build in US Crude Oil Inventories Helps Crude Oil Bears
Crude oil inventories rose by 856,000 barrels to 457.3 MMbbls (million barrels) on October 13–20, 2017. The inventories are near a three-week high.
Will US Natural Gas Consumption Drive Prices?
US natural gas consumption rose by 7.3 Bcf (billion cubic feet) per to 70.37 Bcf per day in July 2017 compared to August 2017.
Will Oil Rigs Today Be the Foundation for US Crude Oil Staying above $50?
The US oil rig count contracted by seven and was at 749 in the week ended September 15, 2017—the fifth-straight week without a rise in the oil rig count.
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.
Russia’s Crude Oil Production Hit a 1-Year Low
Russia’s crude oil production averaged ~11.0 MMbpd in 2016—the highest level in 30 years. Russia’s crude oil production could average 11.1 MMbpd in 2017.
Could the Oil Rig Count Threaten Bullish Bets on Oil Prices?
The US oil rig count rose by three to 768 for the week ended August 11, 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.
