Fidelity MSCI Energy Index ETF

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.

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.

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.

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.

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 […]

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 oil (BNO) (PXI) (USL) (USO) (UCO) prices were up ~4% between December 7, 2016, and December 19, 2016.

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.

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.

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.

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.

The EIA reported that monthly US crude oil production rose 196,000 bpd to 9.0 MMbpd in February 2017.

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.

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.

The EIA reported that US distillate inventories fell by 1.9 MMbbls (million barrels) to 146.8 MMbbls on May 5–12, 2017.

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.

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.

The EIA estimates that global crude oil inventories could rise in 2018 and 2019, which is bearish for oil prices.

US natural gas consumption fell 14.4% to 102.6 Bcf (billion cubic feet) per day on January 4–10, 2018, according to PointLogic.

A larger-than-expected withdrawal in US natural gas inventories compared to historical averages would help natural gas prices this week.

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 by 754,000 barrels or 1.4% to 52.9 MMbbls (million barrels) on December 8–15, 2017, according to the EIA.

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 by 1.3 MMbbls (million barrels) to 128.1 MMbbls on December 1–8, 2017, according to the EIA.

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.

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.

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.

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.

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.

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.

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

The US oil rig count rose by three to 768 for the week ended August 11, 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 US oil rig count extended to 765 in the week ending July 14, 2017—a gain of two rigs compared to the previous week.

The EIA estimates that the four-week average for US gasoline demand rose 129,000 bpd (barrels per day) to 9.7 MMbpd (million barrels per day) from July 7 to 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.

The US oil rig count rose by seven to 763 in the week ended July 7, 2017. This was the rig count’s highest level since April 10, 2015.

On June 23–June 30, the US oil rig count fell by two to 756. The fall was marginal, but it was the first fall after rising for 23 consecutive weeks.

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.

On June 22, 2017, WTI crude oil (USO) (OIIL) active futures’ implied volatility was 29.7%, up 1.7% compared to its 15-day average.

In the week ended June 16, 2017, the US oil rig count was 747, its highest level since the week ended April 17, 2015.

On June 15, 2017, US crude oil active futures’ implied volatility was 27.9%.

US gasoline inventories rose by 2.1 MMbbls to 242.3 MMbbls on June 2–9, 2017. Inventories rose 0.9% week-over-week and 2.3% year-over-year.

WTI (West Texas Intermediate) crude oil (FXN) (SCO) (FENY) futures contracts for June delivery are near a five-month low as of May 9, 2017.

The EIA estimates that Iraq’s crude oil production fell by 115,000 bpd (barrels per day) to 4.42 MMbpd in February 2017—compared to the previous month.

Under President Obama’s tenure, US crude oil production rose 92% and peaked at 9.6 MMbpd (million barrels per day) in June 2015.

Russia’s crude oil production rose to 10.84 MMbpd in June 2016—compared to the previous month—according to sources from the Russian Energy Ministry.