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US Crude Oil Didn’t Reach a New 3-Year High
On April 13–20, 2018, US crude oil June futures rose 1.6% and settled at $68.4 per barrel on April 20. Last week, the US dollar rose 0.6%.
Why Did Oil Prices Fall?
On March 22, natural gas April 2018 futures declined 0.8% and settled at $2.62 per million British thermal units.
Will the Recovery in Oil Prices Last?
On March 15, US crude oil April 2018 futures rose 0.4% and closed at $61.19 per barrel.
Analyzing the Weakness in Crude Oil
On March 8, 2018, US crude oil April 2018 futures declined 1.7% and closed at $60.12 per barrel.
Why Did Oil Prices Move Higher?
On February 22, 2018, US crude oil’s April 2018 futures rose 1.8% and closed at $62.77 per barrel.
Is the Oil Market Moving toward a Supply Deficit?
On February 16, 2018, US crude oil April 2018 futures closed $5.34 above the April 2019 futures contract.
What Caused the U-Turn in Oil Prices?
On February 15, 2018, US crude oil’s April 2018 futures rose 1.1% and settled at $61.17 per barrel. On the same day, the US dollar fell 0.6%.
Leon Cooperman: Crude Oil Could Reach $70 per Barrel Soon
Leon Cooperman said, “I think the supply-demand outlook is favorable, and we would not be surprised to see oil reaching $70 a barrel.”
Are Oil ETFs Gaining from Higher Oil Prices?
Between January 19 and January 26, 2018, the United States Oil ETF (USO) rose 4.1%.
Does Natural Gas’s Rise Depend on Crude Oil?
Between January 16 and January 23, 2018, natural gas (GASL) (UNG) (FCG) had a correlation of 84.6% with US crude oil (OIIL) (USL) (DBO) active futures.
Oil Prices after the EIA’s Inventory Report
After the EIA released the data on January 18, US crude oil prices were almost flat due to other factors like rising US production.
Are Oil ETFs Outperforming Oil?
Between January 12 and January 19, 2018, the United States Oil ETF (USO) fell 1.2%.
Are the Gains in Natural Gas and Oil Coincidental?
Between January 9 and January 16, 2018, the correlation between natural gas and US crude oil active futures was 52.7%.
Oil ETFs: How They’re Performing at Oil’s 3-Year High
Between January 5 and January 12, 2018, the United States Oil ETF (USO), which holds positions in US crude oil active futures, gained 4.5%.
Oil Inventory Data Could Push Oil Higher
In the week ending January 5, 2018, US crude oil inventories fell by 4.9 MMbbls (million barrels)—1 MMbbls more than the market’s expected fall.
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.
Stockpiles Could Push US Crude Oil to a New 3-Year High
On January 8, 2018, US crude oil (USO) (USL) February 2018 futures were 0.5% below their three-year high. The EIA will report the data on January 10, 2018.
Natural Gas Traders Should Stay Cautious of Oil Rigs
On December 29, the natural gas rig count was 88.7% below its record high of 1,606 in 2008. However, natural gas supplies have risen drastically since 2008.
Which Oil ETFs Might Be a Better Bet in 2018?
On December 29, 2017, the closing prices of US crude oil futures contracts between March 2018 and January 2019 were progressively lower.
How Much Fall in Inventories Could Support Oil This Week?
In the week ended December 22, 2017, US crude oil inventories were 431.9 MMbbls (million barrels), a fall of 4.6 MMbbls compared to the previous week.
Higher Oil Prices: A Must for These Natural Gas–Weighted Stocks
All these natural gas–weighted stocks show a higher correlation with oil than with natural gas prices in this short-term period.
US Crude Oil and Oil ETFs: Which One Is Rising More?
From December 15–22, 2017, the United States Oil ETF (USO) rose 1.7%. USO holds US crude oil near-month futures contracts.
Is $60 Achievable for US Crude Oil Next Week?
Implied volatility On December 21, 2017, US crude oil futures’ implied volatility was 15.6%, the lowest seen since September 2, 2014. In the last trading session, the implied volatility was 17.5% below its 15-day average. Supply-glut concerns dragged US crude oil (UCO) (DBO) (OIIL) futures to a 12-year low on February 11, 2016, with an implied volatility […]
Is Natural Gas Moving with Oil Prices?
The correlation between natural gas (GASL)(GASX)(FCG) active futures with US crude oil active futures was 99.8% between December 12 and December 19.
What Oil Bulls Could Expect for Oil Inventories
Oil stockpiles In the week ended December 8, 2017, US crude oil inventories fell by 5.1 MMbbls (million barrels) to 443 MMbbls. However, motor gasoline inventories rose 5.7 MMbbls. The data was released by the EIA (U.S. Energy Information Administration) on December 13. That day, US crude oil prices fell 0.9%. Inventory spread The gap between US oil inventories […]
This Oil-Tracking ETF Fell the Most Last Week
Between December 8 and December 15, the United States Oil Fund (USO)—which invests in crude US oil near-month futures contracts—fell 0.3%.
Oil ETFs That Outperformed US Crude Oil Last Week
On December 1–8, 2017, the United States Oil Fund (USO), which holds crude US oil futures contracts, fell 1.5%. US crude oil January 2018 futures fell 1.7%.
US Crude Oil Prices Could Remain below $58 Next Week
On December 7, 2017, US crude oil’s implied volatility was 20% or ~1.1% less than its 15-day average. On December 1, the implied volatility fell to 19.8%.
Does the Natural Gas Fall Relate to Oil’s Decline?
Between November 29 and December 6, natural gas (GASL)(GASX)(FCG) January 2018 futures had a correlation of -1.6% with US crude oil January futures.
Analyzing Crude Oil Inventories and Oil Prices
In the week ending November 24, 2017, US crude oil inventories fell by 3.4 MMbbls (million barrels) to 453.7 MMbbls.
Will the Inventories Spread Impact US Crude Oil?
US commercial crude oil inventories fell by 1.9 MMbbls in the week ending November 17, 2017—0.5 MMbbls more than the market’s expected fall.
Is Oil Bullishness Boosting Oil ETFs?
Between November 17 and November 24, 2017, the United States Oil Fund LP (USO), which tracks WTI crude oil near-month futures, rose 3.9%.
What to Expect from US Crude Oil Next Week
On November 22, 2017, US crude oil’s implied volatility was 23%—approximately 3% below its 15-day average.
How Closely Is Natural Gas Tracking Oil?
Between November 15 and 22, natural gas (UNG)(FCG) January futures had a correlation of 52.5% with US crude oil January futures.
Does the Inventory Spread Hint at More Upside for Oil?
US commercial crude oil inventories rose by 1.9 MMbbls (million barrels) to 459 MMbbls in the week ended November 10.
How Oil ETFs Are Reacting to Oil’s Weakness
Between November 10 and November 17, the United States Oil Fund LP (USO) fell 0.6%, while US crude oil active futures fell 0.5%.
Oil Rigs Are the Biggest Concern for Natural Gas
In the week ending November 10, 2017, the oil rig count rose by nine—the largest rise since June 30, 2017. Strong oil prices spurred the rise.
Which Natural-Gas-Weighted Stocks Are Following Oil?
CHK has had a negative correlation with natural gas prices in the past five trading sessions.
How Oil ETFs Are Reacting to Oil’s Rise
Between November 3 and November 10, 2017, the United States Oil Fund LP (USO) rose 2.1%, only ten basis points above the gain in US crude oil December futures.
US Crude Oil’s Price: Could Reach $60 Next Week
Based on the implied volatility of 24.4% and a standard deviation of one, US crude oil active futures could settle between $55.24 and $59.10 per barrel.
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.
Inventories Spread: Can Oil Prices Continue to Rise?
In the week ended October 27, 2017, the US commercial crude oil stockpiles fell 2.4 MMbbls. That same day, US crude oil prices fell 0.1%.
How Oil ETFs Stood next to US Crude Oil Last Week
Between October 27 and November 3, the United States Oil Fund LP (USO) rose 3.1%—just ten basis points below the rise of US crude oil December futures.
Are Natural Gas Prices Underperforming Crude Oil?
Between October 25 and November 1, US crude oil futures rose 4.1%, while natural gas futures fell 6.1%.
How the Inventories Spread Is Affecting Crude Oil
In the week ended October 20, 2017, US commercial crude oil inventories rose by 0.9 MMbbls (million barrels) to 457.3 MMbbls.
Natural Gas–Weighted Stocks That Are Rising with Oil Prices
From October 23–30, 2017, our list of natural gas–weighted stocks rose 2.2%. Natural gas (USO) (DBO) December futures fell 6% over this same time period.
Which Oil ETF Could a Good Bet on Rising Oil Prices?
On October 20–27, 2017, the United States Oil Fund LP (USO) rose 3.9%, while US crude oil (DBO) December futures rose 4%.
How Oil Prices Matter to Natural Gas
Between October 18 and October 25, 2017, natural gas active futures had a correlation of 27.4% with US crude oil futures.
Why the Inventories Spread Indicates Higher Oil Prices
In the week ended October 13, 2017, US crude oil stockpiles have fallen by 5.7 MMbbls (million barrels) to 456.5 MMbbls, according to EIA (US Energy Information Administration) data released on October 18, 2017.
Will Oil Rigs Cause a U-Turn in Natural Gas Prices?
Last week (ended October 13, 2017), the natural gas rig count fell by two to 185, but on a YoY (year-over-year) basis, the natural gas rig count rose 76.2%.
Will US Crude Oil Stay above $50 Next Week?
On October 12, 2017, US crude oil implied volatility was 23.8%, 4.8% below its 15-day average.
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.
Will Oil Continue to Rise?
On October 10, 2017, US crude oil (USO) (USL) (OIIL) November futures rose 2.7% and closed at $50.92 per barrel.
Where US Crude Oil Prices Could Head Next Week
On October 5, 2017, the implied volatility of US crude oil November futures was at 25.1%, or 1.2% above the 15-day average.
Rig Count: A Look at Natural Gas’s Upside
In the week ended September 15, 2017, the natural gas rig count fell by one to 186. Also, the natural gas rig count has stalled between 180 and 190 since May 19, 2017.
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.
Leon Cooperman’s ‘Solution’ for Low Oil Prices
At the 2017 Delivering Alpha Conference on September 12, Cooperman stated that “the solution for low oil prices is low oil prices.”
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.
What Made Oil Weak Last Week
Between August 4 and 11, 2017, US crude oil (USO)(DBO) September futures fell 1.5% and closed at $48.82 per barrel on August 11.
Could US Crude Oil Fall to $46 This Week?
On August 10, 2017, US crude oil (USO) (OIIL) active futures implied volatility was 27.3%–2.2%, which was below its 15-day average.
What’s Holding Oil Prices below the $50 Mark?
Between July 28 and August 4, 2017, US crude oil (USO) (DBO) (UCO) September futures fell just 0.3%.
OPEC’s Meeting: Where Oil Prices Could Head Next Week
On August 3, 2017, US crude oil’s implied volatility was 27%—3.9% below its 15-day moving average.
Could Oil Inventories Maintain Their Bullish Momentum?
Inventory data According to the EIA (U.S. Energy Information Administration), US crude oil inventories fell 7.2 MMbbls (million barrels) in the week ended July 21, 2017. The fall was twice the expected fall of 3.3 MMbbls. Bullish inventory data buoyed oil prices by 1.8% on the same day. Inventory spread A rise in surplus crude […]
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, […]
US Crude Oil Rig Count: Will Oil’s Gains Accelerate?
On a week-over-week basis, the oil rig count fell by one to 764 for the week ending July 21, 2017. The oil rig count has more than doubled on a YoY basis.
Why Oil Prices Could Plunge
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.
Energy Commodities: Why Did They Fall Last Week?
Last week, crude oil prices fell, despite a large draw in US crude oil inventories for the week ended June 30, 2017. The draw was more than market estimates.
What the Oil Inventories Spread Suggests for Oil Prices
In the week ending June 23, 2017, US crude oil inventories rose by 0.1 MMbbls (million barrels) to 509.2 MMbbls, according to EIA data on June 28, 2017.
Will US Crude Oil Hit $40 Next Week?
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.
US Oil in a Bear Market: What’s Up with the Brent-WTI Spread?
On June 20, 2017, Brent crude oil (BNO) active futures were trading $2.79 higher than WTI (West Texas Intermediate) crude oil (UCO) (OIIL) (USL) active futures.
How Did Oil’s Contango React to the Recent Slump in Oil?
On June 20, 2017, US crude oil (DBO) (OIIL) August 2018 futures settled at a premium of $2.57 to August 2017 futures.
Where Will US Crude Prices Settle?
On June 15, 2017, US crude oil active futures’ implied volatility was 27.9%.
Oil’s Forward Curve: What Does It Indicate?
On June 13, 2017, US crude oil’s July 2018 futures settled at a premium of $1.67 to July 2017 futures.
Chart of the Week: Crude Oil Production of Global Majors
Crude oil (OIIL) (DBO) (USL) prices fell on June 5, 2017, due to geopolitical tensions.
Oil Contango: How Should Oil Traders View It?
Between May 30 and June 6, 2017, US crude oil (USL) (OIIL) July futures fell 3%.
Energy Commodities: The Impact of Economic Growth
In 1Q17, the US GDP grew at an annual rate of 1.2% based on the second estimate of the Bureau of Economic Analysis released on May 26, 2017.
How Energy Commodities Take Cues from the Job Market
In the week ended May 13, US initial jobless claims reached 233,000. The four-week moving average was at 235,250—at a record low since April 14, 1973.
How OPEC Could Affect Oil Prices
On May 23, 2017, US crude oil (USL) (DBO (USO) (OIIL) July futures closed at $51.47 per barrel, 0.7% more than the previous day’s closing price.
Unemployment Claims Falling: Will Energy Commodities Rise?
US initial jobless claims fell by 4,000 to 232,000 for the week ending May 13, 2017, based on the US Department of Labor’s report on May 18, 2017.
Why Investors Should Watch the Brent-WTI Spread
On May 17, 2017, WTI (West Texas Intermediate) crude oil (UCO) (USO) (OIIL) (USL) active futures were trading at a discount of $3.14 per barrel to Brent crude oil (BNO) active futures.
Unemployment Claims Impact Energy Commodities
US initial jobless claims were at 236,000 for the week ending May 6, 2017, according to the US Department of Labor’s report on May 11, 2017.
Einhorn at Sohn Investment Conference: Short Core Laboratories
At the 2017 Sohn Investment Conference on Monday, May 8, 2017, Einhorn said he is short on oil and gas servicing company Core Laboratories (CLB).
The Brent-WTI Spread: A Key Indicator for Energy Investors
On May 9, 2017, WTI crude oil active futures were trading at a discount of $2.85 per barrel to Brent crude oil active futures.
The Brent-WTI Spread: What Does It Suggest?
On May 2, 2017, WTI (West Texas Intermediate) crude oil (UCO) (USO) (OIIL) (USL) active futures were trading at a discount of $2.8 per barrel to Brent crude oil (BNO) active futures.
Soft GDP Data: How It Impacts Energy Commodities
According to the Department of Commerce, on April 28, 2017, advance estimates put US GDP growth at 0.70% for 1Q17.
US Oil Rigs Are Near a 2-Year High: Bearish for Oil
The US oil rig count reached 683 in the week ending April 14—a rise of 11 rigs compared to the previous week, according to data released by Baker Hughes.
US Non-Farm Payrolls Data Impact Energy Commodities
US non-farm payrolls rose by 98,000 in March 2017, according to the U.S. Bureau of Labor Statistics’ report on April 7, 2017.
Are Energy ETFs Matching Oil’s Second Weekly Gain?
On April 6, 2017, US crude oil futures contracts for May delivery closed at $51.70 per barrel—an ~1.1% rise over the previous trading session.
What’s in Store for Crude Oil This Week?
Crude oil’s (USO) (DBO) (USL) (OIIL) implied volatility was 25.4% on March 31, 2017. That was 8.5% below its 15-day average.
Will US Crude Oil Stay above $50?
WTI (West Texas Intermediate) crude oil May futures closed at $50.60 per barrel on Friday, March 31, 2017.
Oil Rig Count and Crude Oil Prices: What’s the Correlation?
The US oil rig count reached 652 in the week ended March 24, 2017. That was a 21-rig rise over the previous week.
US Crude Oil: Why $50 Looks Difficult This Week
Crude oil’s (USO) (DBO) (USL) (OIIL) implied volatility was 28.3% on March 24, 2017. That was 1.0% below its 15-day average.
Will the Energy Sector Enter a Bear Market?
On March 23, 2017, US crude oil futures contracts for May delivery closed at $47.70 per barrel—an ~0.7% fall over the previous trading session.
Are Oil-Weighted Stocks Outperforming Oil’s Recent Fall?
On February 11, 2016, US crude oil touched a 12-year low. From February 11, 2016, to March 20, 2017, US crude oil active futures contracts rose 86.6%.
Why USO Investors Stand to Lose More than Oil
From March 9, 2017, to March 16, 2017, the United States Oil ETF (USO) fell 1.6%. In the trailing week, WTI crude oil April futures fell 1.1%.
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.
What Rising Global Oil Inventories Could Mean for Crude Prices
US crude oil futures contracts for April delivery closed at $47.72 per barrel on March 14, 2017—1.4% lower than the previous day’s closing price.
What to Expect from US Crude Oil This Week
Crude oil’s (USO) (DBO) (USL) (OIIL) implied volatility was 31.1% on March 10, 2017—26.8% above its 15-day average.
Why USO Could Fall More than WTI Crude Oil
From March 2, 2017, to March 9, 2017, the United States Oil ETF (USO) (DBO) (OIIL) fell 5.7%. In the trailing week, West Texas Intermediate crude oil April futures fell 6.3%.
Crude Talk: US Oil Producers Could Force a Flood
The US oil rig count reached 609 in the week ending March 3, 2017—a rise of seven rigs over the previous week.