PowerShares DWA Energy Momentum ETF

US gasoline inventories are 7.2% below their all-time high. The expectation of a fall in gasoline inventories could support gasoline prices.

Between March 3, 2016–June 7, 2017, natural gas active futures rose 84.1% while the US dollar fell 0.8%.

US crude oil (USO) (IXC) (IYE) (PXI) prices are near their one-month low. Lower crude oil prices have a negative impact on oil producers’ earnings.

The US dollar (UUP) (UDN) (USDU) fell 0.3% between May 24 and May 31, 2017.

The US Energy Information Administration estimates that US crude oil movement by rail fell by 3,546,000 barrels to 10,850,000 barrels in February 2017.

Market surveys estimate that Cushing crude oil inventories rose between April 28 and May 5, 2017.

Between March 22 and March 29, 2017, natural gas (GASX) (FCG) (GASL) May futures rose 5.4%. The US dollar rose 0.3% during that period.

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.

The EIA estimates that OECD crude oil inventories rose by 15.9 MMbbls to 3,061 MMbbls in November 2016—compared to the previous month.

US gasoline prices hit $1.14 per gallon on February 8, 2016—the lowest in 12 years. As of November 29, 2016, prices rose 21.1% from their lows in February.

Seasonality plays a key role in influencing crude oil prices. Crude oil prices tend to rise in August due to the summer driving season, which results in a rise in gasoline demand.

Crude oil and the US Dollar Index are inversely related. The appreciation of the US dollar will negatively influence crude oil prices.