PowerShares DWA Energy Momentum ETF

The API released its weekly inventory report on December 28, 2016. It estimates that US gasoline inventories fell by 2.8 MMbbls from December 16–23, 2016.

Cushing is the largest crude oil storage hub in the United States. A market survey estimates that Cushing inventories fell from August 4 to August 11.

US distillate inventories increased for the sixth time in the last seven weeks. The inventories rose ~11% in the last seven weeks.

The rise in crude oil export capacity suggests that Iran’s getting ready for a massive increase in crude oil production in 2018.

A Reuters survey estimates that Libya’s crude oil production fell by ~20,000 bpd (barrels per day) to 670,000 bpd in February 2017—compared to January 2017.

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.

Cushing crude oil inventories have fallen 10% in the last ten weeks. A better-than-expected fall in Cushing inventories could support US crude oil prices.

WTI crude oil (BNO) (PXI) (UCO) (XOP) prices have fallen 18% year-to-date. They have fallen 7% in the past year due to bearish drivers.

A Bloomberg survey estimates that OPEC’s crude oil production rose by 315,000 bpd to 32.21 MMbpd in May 2017—compared to the previous month.

The EIA estimates that Libya’s crude oil production fell by 145,000 bpd (barrels per day) to 860,000 bpd in August 2017—compared to the previous month.

US refineries operated at 93.4% of their operable capacity in the week ending May 5, 2017. The rise in refinery demand is bullish for crude oil prices.

The EIA released its weekly crude oil report on May 24, 2017. US gasoline inventories fell by 0.8 MMbbls to 239.9 MMbbls on May 12–19, 2017.

In its March Short-Term Energy Outlook report, the EIA forecast that the US natural gas supply-demand balance could average around 2.9 Bcf per day in 2016.

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 […]

Between May 3 and May 10, 2017, natural gas (GASX) (FCG) (GASL) June futures rose 2%. The US dollar (UUP) (UDN) (USDU) rose 0.5% during that period.

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.

The recovery of oil prices in the latter half of 2016 has helped the Russian ruble to appreciate along with improved exports.

US crude oil output is at the highest level since January 25, 2016. The rise in crude oil output is the biggest bearish driver for crude oil prices in 2017.

Brent crude oil futures fell 0.7% to $49.61 per barrel on July 4, 2017. August WTI crude oil (XLE) (XOP) (PXI) futures contracts rose in electronic trading.

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 US Energy Information Administration estimates that global crude oil supply outages fell by 247,000 bpd (barrels per day) to 2.0 MMbpd (million barrels per day) in June 2017.

The EIA (U.S. Energy Information Administration) reported that US crude oil production rose by 36,000 bpd (barrels per day) to 9,235,000 bpd between March 31 and April 7, 2017.

US natural gas inventories are 25% higher than their five-year average. High natural gas inventories could also limit the upside for US natural gas prices.

US distillate inventories rose by 1.1 MMbbls to 152.5 MMbbls on June 9–16, 2017. US distillate inventories rose for the fourth consecutive week.

Aegent Energy Advisors predicts that US natural gas prices might not exceed $3.18 per MMBtu by December 2017.

January US natural gas (UGAZ) futures contracts were below their 100-day, 50-day, and 20-day moving averages on December 21, 2017.

Natural gas (GASX) (FCG) (GASL) July futures rose 0.5% on May 17–May 24, 2017. During this period, the US dollar (UUP) (UDN) (USDU) fell 0.3%.

WTI crude oil (UCO) futures closed at $62.01 per barrel on January 4, 2018—the highest level since December 2014. WTI prices rose ~12.4% in 2017.

The EIA reported that US distillate inventories fell by 1.9 MMbbls (million barrels) to 149.5 MMbbls on July 14–21, 2017.

According to the EIA, US gasoline inventories increased by 3.1 MMbbls (million barrels) to 244 MMbbls on January 12–19, 2018.

The US Dollar Index (UUP) fell 0.34% to 90.09 on January 23—the lowest level since December 2014. The fall supported crude oil prices on January 23, 2018.

On December 19, 2017, the API released its crude oil inventory report. US gasoline inventories rose by 2 MMbbls (million barrels) on December 8–15, 2017.

The EIA estimates that four-week average US gasoline demand fell by 21,000 bpd (barrels per day) to 9.1 MMbpd on December 1–8, 2017.

US crude oil futures for January delivery rose 0.3% to $57.47 per barrel at 1:10 AM EST on November 30, 2017. Prices rose ahead of OPEC’s meeting.

The EIA estimates that US crude oil production rose by 25,000 bpd (barrels per day) or 0.3% to 9,645,000 bpd on November 3–10, 2017.

The US Dollar Index rose 0.13% to 94.4 on November 13, 2017. It limited the upside for US crude oil (UWT) (DWT) prices on the same day.

The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories fell by 4,020,000 barrels to 212.8 MMbbls on October 20–27, 2017.

The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 157,000 bpd (barrels per day), or 1.7%, to 9,510,000 bpd between September 8, 2017, and September 15, 2017.

The EIA estimates that weekly US gasoline demand rose by 456,000 bpd (barrels per day) to 9.6 MMbpd (million barrels per day) on September 1–8, 2017.

Let’s track some important events for crude oil and natural gas traders between September 18 and September 22.

The US Dollar Index fell 0.34% to 91.33 on September 8—the lowest level in the last 33 months. Prices fell due to the following factors.…

WTI (West Texas Intermediate) crude oil (SCO)(BNO)(PXI) futures contracts for October delivery rose 0.4% and were trading at $46.8 per barrel in electronic trading at 2:05 AM EST on August 29.

India’s Petroleum Planning and Analysis Cell estimated that the country’s crude oil imports rose 0.60% to 4.2 MMbpd in July 2017 from July 2016.

The EIA reported that US gasoline inventories rose by 22,000 barrels or 0.1% to 231.1 MMbbls (million barrels) on August 4–11, 2017.

WTI (West Texas Intermediate) crude oil (PXI)(USL)(SCO) futures contracts for September delivery fell 0.1% and were trading at $48.78 per barrel in electronic trading at 2:00 AM EST on August 14, 2017.

The Russian Energy Ministry estimates that Russia’s crude oil production was flat at 10.95 MMbpd in July 2017—compared to the previous month.

The US Dollar Index rose 0.77% to 93.7 on August 4, 2017. The US dollar rose due to the better-than-expected rise in US unemployment data.

August 2017 West Texas Intermediate crude oil futures contracts fell 0.5% and were trading at $46.83 per barrel in electronic trade at 1:45 AM EST on July 4, 2017.

Iran’s crude oil production is at a seven-year high. Iran was able to scale up production after the US lifted sanctions on the country in January 2016.

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.