Swift Energy Co
US Distillate Inventories Fell for the Fourth Straight Week
The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 1.72 MMbbls to 147.7 MMbbls on July 28–August 4, 2017.
Analyzing Hedge Funds’ Net Long Position on US Crude Oil
Hedge funds increased their net long positions in US crude oil futures and options by 16,345 contracts to 149,951 contracts on June 27–July 4, 2017.
How Monthly US Crude Oil Production Has Supported Crude Prices
The U.S. Energy Information Administration estimates that monthly US crude oil production fell 24,000 bpd (barrels per day) to 9.1 MMbpd (million barrels per day) in April 2017.
Significance of the US Dollar in Driving Oil and Energy Prices
ETF Securities Changing Dollar Dynamic The rule of thumb known to many investors is that the US dollar has an inverse relationship with oil and energy prices. This negative relationship was most prominent from 2003 to 2014 (see “Oil’s inverse relationship to the dollar was most prominent from 2003 through 2014” chart below). During this […]
US Distillate Inventories Rose for the First Time in 5 Weeks
US distillate inventories rose by 0.4 MMbbls to 146.7 MMbbls on May 19–26, 2017. Distillate inventories rose 0.3% week-over-week but fell 1.9% YoY.
US Gasoline Inventories Fell Less, Pressured Gasoline 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.
Analyzing Libya and Nigeria’s Crude Oil Production
Libya’s crude oil production hit ~814,000 bpd in early May 2017. Bloomberg estimates that production is at the highest level since October 2014.
WTI Crude Oil and Gasoline Futures Diverge
US gasoline futures contracts for June delivery fell 0.1% to $1.60 per gallon on May 17, 2017. Prices fell due to a lower fall in US gasoline inventories.
US Refinery Demand Impacts Crude Oil Inventories
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.
US Crude Oil and Gasoline Futures Rose
June gasoline futures contracts rose 4% to $1.54 per gallon on May 10, 2017. Prices rose due to the fall in US gasoline inventories.
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.
Cushing Crude Oil Inventories Fell for the Second Straight Week
Market surveys estimate that Cushing crude oil inventories rose on April 21–28. A rise in crude oil inventories could pressure US crude oil prices.
Crude Oil Prices Fell below 200-Day Moving Average
So far, crude oil prices and broader markets such as the S&P 500 (SPY) (SPX-INDEX) are diverging in 2017. SPY has risen 4.9% YTD (year-to-date).
US Distillate Inventories Fell for the Tenth Straight Week
The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 2 MMbbls to 148.3 MMbbls on April 7–14, 2017.
US Gasoline Inventories Fell for 8th Straight Week
The EIA (U.S. Energy Information Administration) reported that US gasoline inventories fell 2.9 MMbbls (million barrels) to 236.1 MMbbls between March 31, 2017, and April 7, 2017.
Will the US Dollar Support Crude Oil Prices This Week?
The US dollar and crude oil (USO) (UCO) are usually inversely related. A fall in the US dollar makes crude oil more economical for oil importers.
Gasoline and Crude Oil Futures Move in the Opposite Direction
Gasoline futures contracts for May delivery fell 0.4% to $1.71 per gallon on April 5, 2017. Prices fell despite the fall in US gasoline inventories.
US Gasoline Demand: Key Crude Oil Driver in 2017
The EIA estimated that four-week average US gasoline demand rose by 210,000 bpd (barrels per day) to 9,312,000 bpd from March 17–24, 2017.
Will Gasoline Inventories Help Crude Oil Prices Recover?
The API estimated that US gasoline inventories fell by 1.1 MMbbls from March 17–24, 2017. US distillate inventories fell by 2 MMbbls during the same period.
EIA Reported a Surprise Draw in US Gasoline Inventories
The EIA reported that US gasoline inventories fell by 0.9 MMbbls (million barrels) to 256.2 MMbbls between January 27, 2017, and February 3, 2017.
Crude Oil Prices Fell from 18-Month High: What’s Next?
As of January 9, crude oil prices were up 98.2% from their 2016 lows. Higher crude oil and natural gas prices have a positive impact on producers’ earnings.
Why Did Crude Oil and US Diesel Futures Diverge?
The EIA reported that US on-highway diesel fuel prices rose 0.8% to $2.54 per gallon for the week ending December 26, 2016—compared to the previous week.
How Cushing Inventories Could Affect Crude Oil Prices in 2017
Market surveys suggest that Cushing crude oil inventories rose between December 16 and December 23, 2016.
Gasoline Inventories Pressure Gasoline and Crude Oil Prices
For the week ending December 9, 2016, US gasoline inventories were 5% higher than they were in the same period in 2015.
Crude Oil Prices Hit 16-Month High: What’s Next?
WTI crude oil futures contracts for January delivery rose 1.0% and were trading at $52.20 per barrel in electronic trade at 4:50 AM EST on December 5, 2016.
Crude Oil Prices Recover from a 2-Month Low: What’s Next?
NYMEX crude oil was at $26.21 per barrel on February 11—the lowest level since 2003. As of November 18, crude oil prices were up 77% from their 2016 lows.
Cushing Crude Oil Inventories Are near November 2015 Levels
Cushing crude oil inventories fell by 650,000 barrels from October 21–28, 2016. A fall in crude oil inventories at Cushing could support crude oil prices.
Important Events on the Energy Calendar: October 10–14
The events on the energy calendar influence crude oil and natural gas prices. The fluctuation in crude oil prices impacts oil and gas producers’ earnings.
This Week’s Energy Calendar for the Crude Oil and Gas Market
Volatility in crude oil prices impacts the earnings of oil and gas producers such as Northern Oil & Gas (NOG), Comstock Resources (CRK), Swift Energy (SFY), and Triangle Petroleum (TPLM).
How Will API Crude Oil Inventories Impact Crude Oil Prices?
On August 9, the API will release its weekly crude oil inventories report. US crude oil inventories fell by 1 MMbbls between July 29 and August 5, 2016.
Crude Oil Prices Rebound Due to a Draw in US Gasoline Inventories
September WTI crude oil futures contracts rose and closed at $40.83 per barrel on August 3. Prices rose due to an unexpected draw in US gasoline inventories.
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.
API and EIA’s Crude Oil Inventories: Will They Mirror Each Other?
The API released its weekly crude oil inventories report on June 21, 2016. It stated that US crude oil inventories fell by 5.2 MMbbls between June 10 and June 17.
OPEC Failed to Set an Output Ceiling but Crude Oil Rose
July WTI crude oil futures contracts trading on NYMEX rose by 0.33% to settle at $49.17 per barrel on June 2, 2016.
API Data and the EIA’s Crude Oil Inventory Expectations Diverge
The API released its weekly crude oil inventory report on June 1. US crude oil inventories rose by 2.4 MMbbls for the week ending May 27, 2016.
Crude Oil Inventories Decline, Crude Oil Prices Near $50
WTI and Brent crude oil prices settled below $50 per barrel due to profit booking. Oil traders were booking profit ahead of the US Memorial Day holiday on Monday, May 30, 2016.
Demand Side of the Crude Oil Market: India Is a Bright Spot
OPEC’s monthly report highlighted that India’s crude oil demand rose by 0.6 MMbpd in March 2016, 15% higher than in the corresponding period in 2015.
US Gasoline Inventories Resume Their Downward Trend
The EIA released its weekly petroleum report on May 11, 2016. It reported that US gasoline inventories fell by 1.2 MMbbls to 240.6 MMbbls between April 29–May 6, 2016.
Will API and EIA US Crude Oil Inventories Mirror Each Other?
The API (American Petroleum Institute) released its weekly crude oil inventory report on May 3.
Will Gasoline and Distillate Inventories Support Crude Oil Prices?
On May 2, the API (American Petroleum Institute) released its weekly crude oil inventory report.
Gasoline Prices Followed the Momentum of Crude Oil Prices
On April 27, 2016, the EIA released its “This Week in Petroleum” report. It reported that average US retail gasoline prices rose by 1.7% week-over-week.
Will US Gasoline and Distillate Inventories Help Crude Oil Rally?
For the week ended April 22, 2016, distillate inventories are expected to fall. The estimates of falling gasoline and distillate inventories could benefit crude oil prices.
US Dollar Hits Lowest in 8 Months and Supports Crude Oil Prices
Crude oil prices have been on a roller coaster ride. WTI oil prices have rallied 52% since their lows from February 2016.
Diesel Fuel Prices Fell Marginally for the Week Ending April 4
The EIA reported that US on-highway diesel fuel prices fell marginally by 0.3% to $2.1 per gallon on April 4, 2016—compared to the previous week.
How Long Will US Crude Oil Production Support Crude Oil Prices?
Monthly US crude oil production peaked at 9.7 MMbpd in April 2015, which was the highest level since the 1970s.
US Gasoline and Distillate Inventories Could Benefit Crude Prices
The API reported that US gasoline inventories fell by 1.9 MMbbls (million barrels) for the week ending March 25, 2016—compared to the previous week.
Heating Oil and Diesel Fuel Prices Rose for 4th Straight Week
On March 23, 2016, the EIA reported that US on-highway diesel fuel prices increased by 1% to $2.1 per gallon on March 21 compared with the previous week.
Will the US Dollar and Crude Oil Producers’ Meeting Influence Prices?
The US Dollar Index (DXY) depreciated against global currencies. It hit a two-week low. The US dollar fell by 0.2% on March 7, 2016.
WTI and Brent Crude Oil Prices Hit 2016 High
Crude oil prices rose by ~42% since the lows in February 2016. The major reasons were the slowing US production and the new crude oil production deal.
Why Did Crude Oil Prices Rise 37% since the Lows in February?
Supply stripping demand caused crude oil prices to fall by almost 66% since June 2014. However, oil prices rose almost 37% from the lows in February 2016.
What Were OPEC Policies during Previous Crude Oil Crashes?
During the 1985-86 crude oil crash, OPEC (Organization of Petroleum Exporting Countries) decided to defend its market share by pumping more oil.
US Oil and Gas Companies’ Debt Exceeds $200 Billion
US oil and gas exploration and production companies are under severe pressure.
Crude Oil Prices Have Fallen 11% since October 9
December WTI crude oil futures contracts trading in NYMEX fell by 1.4% on Monday, October 26, 2015. Crude oil prices fell for the second day.
Crude Oil Futures Prices Are Trading Close to the Key Support
December WTI crude oil futures fell for the fourth time in the last five trading sessions. Prices are moving towards the nearest support level within the price channel.
Commodity Meltdown: 19 Oil and Gas Companies in Bankruptcy
The net debt of US oil and gas exploration and production companies increased from $81 billion in 2010 to $169 billion by 1H15. The main reason is the catastrophic fall in crude oil prices.