United States 12 Month Oil ETF
Which Energy Stocks Are Impacted More by Crude Oil?
On September 12, WTI crude oil (UWTI) (USO) (OIIL) (USL) (SCO) (DWTI) active contracts closed at $46.29 per barrel—0.9% above the previous closing price.
Are Oil’s Supply Concerns Rising?
On May 21, US crude oil July futures closed $5.97 above the July 2019 futures contract. On May 14–21, US crude oil July futures rose 1.9%.
Crude Oil Prices Settle below Key Moving Averages after Brexit
Market surveys project that the global crude oil glut could narrow due to supply outages in 2016.
What Oil’s Rising Contango Tells Traders
On May 9, 2017, June 2017 crude oil futures were trading at a discount of $2.4 to June 2018 futures contracts—the highest discount since March 22, 2017.
US Crude Oil Could Fall below $60 Next Week
On March 1, 2018, US crude oil’s implied volatility was at 23.7%—0.4% below its 15-day average.
Investors Should Look at Rigs before Placing Bets on Oil
The US crude oil rig count was 525 in the week ending December 30—a rise of two rigs compared to the previous week, according to data released by BHI.
Oil Prices: $60 Could Be a Strong Support This Week
On February 9–16, 2018, US crude oil April futures rose 4.3% and closed at $61.55 per barrel on February 16, 2018.
US Gasoline Inventories Fell for the Fourth Consecutive Week
The EIA reported that US gasoline inventories declined by 3.4 MMbbls (million barrels) to 239.5 MMbbls on March 16–23, 2018.
Futures Spread Indicates Bullishness for Oil Prices
Yesterday, US crude oil November 2018 futures closed ~$3.48 above November 2019 futures, and between September 17 and yesterday, US crude oil November futures rose 5%.
Crude Oil Is Firming: Are Traders Looking for a Breakout?
US crude oil April futures rose 0.4% in the week ending on February 24, 2017. WTI crude oil April futures closed at $53.99 per barrel on February 24.
Oil and Natural Gas Fell: Is Your Energy Portfolio at Risk?
US crude oil April futures fell 0.9% in the week ending on February 17, 2017. WTI crude oil April futures closed at $53.40 per barrel on February 17, 2017.
Decoding OPEC Members’ Crude Production in July 2016
Lower crude oil prices impact US and international oil producers’ profitability such as PetroChina (PTR), Sanchez Energy (SN), and Stone Energy (SGY).
Is $30 for Crude Oil Coming?
US crude oil (USO) (OIIL) (USL) (DBO) futures contracts for May delivery closed at $48.24 per barrel on March 21, 2017.
Possible Downside for US Crude Oil Next Week
On March 8, 2018, US crude oil’s implied volatility was at 23.3%. On the same day, oil’s implied volatility was 1.3% below its 15-day moving average.
Will Gasoline Inventories Impact Gasoline and Crude Oil Prices?
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.
Can Devon Energy Continue Rallying after Its 1Q16 Earnings?
Devon Energy announced its 1Q16 earnings on May 3, 2016, after the market closed. On the day, DVN’s stock price fell by 5.2% to close at $32.75.
Non-OPEC Crude Oil Production: Will It Impact Oil Prices in 2017?
Figures from the EIA suggest that non-OPEC crude oil production rose by 350,805 bpd to 44.6 MMbpd in September 2016—compared to the previous month.
How Oil ETFs Performed amid Oil’s Fall Last Week
Between August 31 and September 7, the United States Oil ETF (USO) fell 2.9%, and the United States 12-Month Oil ETF (USL) fell 2.4%.
US Retail Gasoline Prices Rose for 3rd Time in 14 Weeks
The EIA (U.S. Energy Information Administration) reported that US retail gasoline prices rose 0.9% week-over-week and settled at $2.24 per gallon for the week ending October 3, 2016.
US Crude Oil at New High, but Is Upside Limited?
On November 2, 2017, US crude oil (USO) (USL) December futures rose 0.4% and settled at $54.54 per barrel, the highest closing price for US crude oil active futures in 2017.
US Dollar Near 13-Month Low: Can It Drive Crude Oil Futures?
The US Dollar Index fell 0.50% to 92.7 on July 31, 2017. It’s the lowest level in the last 13 months.
Key Price Points for US Crude Oil after OPEC’s Decision
On December 6, US crude oil’s implied volatility was 48.1%, which was 1.5% above its 15-day average.
Why Are Oil Shorts Counting on Oil Rigs?
The US crude oil rig count was at 452 in the week ending November 11—a rise of two rigs compared to the previous week’s count, according to Baker Hughes.
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.
Brent-WTI Spread: Why It’s Crucial for Energy Investors
On March 28, 2017, WTI (West Texas Intermediate) crude oil active futures were trading at a discount of $2.96 per barrel to Brent crude oil active futures.
US Distillate Inventories Pressured Diesel and Oil Prices
The EIA estimates that US distillate inventories increased by 0.5 MMbbls (million barrels) to 129.4 MMbbls on March 23–30, 2018.
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.
Will Oil Prices Stall Here?
On January 29, 2018, US crude oil (USO) (USL) March futures declined 0.9% and settled at $65.56 per barrel.
The US Crude Oil Rise: Short Covering or Bulls Back in Action?
On September 5, US crude oil (USO)(DBO)(USL) October futures rose 2.9% and closed at $48.66 per barrel. Oil prices rose since most refineries on the Gulf Coast affected by Hurricane Harvey resumed operations.
Crude Oil Futures and Wall Street Move in Tandem
November WTI (West Texas Intermediate) crude oil futures contracts rose 2.7% and closed at $50.92 per barrel on Tuesday, October 10, 2017.
Crude Oil Makes New 2016 Highs: Following Oil-Weighted Stocks
On December 12, WTI crude oil January contracts closed at $52.83 per barrel. It was ~2.6% higher than the last closing price and the highest level for 2016.
Libya’s Crude Oil Production: Time to Sell Oil Futures?
Libya plans to pump 1.25 million barrels per day of crude oil by December 2017. An increase in Libya’s crude oil production could weigh on oil prices.
Global Crude Oil Supply Outages Are near a 6-Year Low
Global crude oil supply outages are near the six-year low. Any fall in the crude oil supply outage could increase the supplies and pressure oil prices.
Futures Spread Nearing Discount: US Crude Sentiment Might Reverse
On October 22, US crude oil December 2018 futures closed just ~$0.6 above the December 2019 futures.
Why Oil Prices Could Increase More
On January 22, 2018, US crude oil active futures were 3.1%, 7.8%, 15.8%, and 23.7% above their 20-day, 50-day, 100-day, and 200-day moving averages.
Crude Oil Prices Fell below the 200-Day Moving Average
Crude oil prices were $50–$54 per barrel between December 2016 and early March 2017. Prices broke below $50 per barrel on March 9, 2017.
Which Oil-Weighted Stocks Could Outperform Oil’s Downturn?
On February 11, 2016, US crude oil touched a 12-year low. From February 11, 2016, to March 13, 2017, US crude oil active futures contracts rose 84.7%.
US Distillate Inventories Rose for the Sixth Time in 7 Weeks
US distillate inventories increased for the sixth time in the last seven weeks. The inventories rose ~11% in the last seven weeks.
Factors Impacting Crude Oil: China, Rig Count, and Spreads
On August 15, US crude oil September futures fell 0.1% and closed at $47.55 per barrel. From August 8 to August 15, US crude oil September futures fell 3.3%.
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.
Libya’s Crude Oil Production: Bears Could Control Oil Prices
Libya’s crude oil production was at 1,030,000 bpd in July 2017. Production has risen ~60% from its levels in January 2017.
Where US Crude Oil Prices Could Close Next Week
On August 9, US crude oil’s implied volatility was 23.1%, which was ~1.3% below its 15-day average.
Did Crude Oil Prices Move ConocoPhillips’s Stock Last Week?
ConocoPhillips’s (COP) stock price rose more than 4% in the week ended February 23. Crude oil and natural gas prices each rose ~3%.
Analyzing Libya’s Crude Oil Production
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.
Antero Resources: Why Its Stock Ignored Natural Gas
Antero Resources (AR) had the highest correlation of 98.4% with crude oil active futures among gas-weighted stocks in the week ending July 17, 2017.
Which Oil ETFs Fell Less than Oil Last Week?
On November 2–9, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 4.6% and 3.8%, respectively.
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.
Russia’s Central Bank: Crude Oil Prices Could Hit $40 per Barrel
Brent crude oil prices could fall as low as $40 per barrel by the end of 2017 if OPEC doesn’t extend major producers’ production cut deal in 2H17.
Futures Spread: Bullish Sentiments Fall for Oil
On April 15, the US crude oil May 2019 futures closed ~$2 above the May 2020 futures. On April 8, the futures spread was at a premium of $3.5.
US Crude Oil Inventory Report Might Disappoint Traders
An unexpected increase in US oil inventories pressured WTI oil (USO) (UCO) prices in post-settlement trade on November 28, 2017.
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.
Why Oil’s Decline Could Continue
Between February 2 and February 9, 2018, US crude oil March futures fell 9.5% to close at $59.2 per barrel on February 9.
WTI and Brent Crude Oil Prices Were Trading almost Flat
WTI and Brent crude oil prices fell for the second day in a row due to record US crude oil inventory and profit booking.
OPEC Could Pressure US Natural Gas Prices in 2018
US natural gas rigs rose 35% in the last 12 months, while US natural gas prices (UNG) fell 20% during this period.
Why Oil Prices Could Lose Momentum
On January 25, 2018, US crude oil’s (USO) (USL) March 2018 futures fell 0.2% and settled at $65.51 per barrel.
What to Expect from Libya’s Crude Oil Production in September
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.
Crude Oil: Analyzing the Futures Spread
On August 20, US crude oil October futures closed ~$3.1 above the October 2019 futures contract.
US and Brent Crude Oil Prices Could Trade below $60 per Barrel
Hedge funds increased their net bullish positions in US crude oil futures and options by 15,801 contracts or 7.2% to 234,878 contracts on October 17–24.
Why Is the Risk in Oil Prices Rising?
On December 5, 2017, US crude oil (USO) (USL) January 2018 futures rose 0.3%. The API’s oil inventory data might have supported oil prices on the same day.
Will OPEC and Wall Street Help Crude Oil Futures?
December WTI (or West Texas Intermediate) crude oil (DWT) (USO) futures contracts rose 0.6% and settled at $51.84 per barrel on October 20, 2017.
What’s the Oil Futures Market Saying?
On July 2, US crude oil August futures closed ~$10 above the August 2019 futures contract. On June 25, the futures spread was at a premium of $5.4.
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.
Crude Oil Prices Are Trading Close to One-Month High
WTI crude oil settled at $26.21 per barrel on February 11, 2016, the lowest since 2003. They felt the heat due to easing supply outages, high OPEC, and Russian crude oil production.
Future Spread: Oil Sentiments Changed
On March 18, the US crude oil May 2019 futures closed ~$0.24 above the May 2020 futures. On March 11–18, US crude oil May futures rose 1.3%.
OPEC and Russia: More Negative Forces for Crude Oil Market
The EIA reported that OPEC’s crude oil production rose by 510,000 bpd (barrels per day) to 32.7 MMbpd (million barrels per day) in June 2016.
Which Natural Gas–Weighted Stocks Could Follow Oil?
WPX Energy had the lowest correlation with natural gas prices in the past five trading sessions. Southwestern Energy had among the highest correlations.
Could Crude Oil Prices Fall to $40 in April 2017?
OECD commercial crude oil and other liquids inventory days of supply could rise in April, possibly pushing oil prices back near $40.
How Natural Gas Follows Crude Oil Prices
From May to July 2017, the 30-day rolling correlation between natural gas and US crude oil was positive and frequently exceeded 30%.
US Crude Oil Inventories and Oversupply Concerns
The American Petroleum Institute estimated that US crude oil inventories fell by 2.7 MMbbls (million barrels) on June 9–16, 2017.
Where Oil Prices Could Head this Week
Between November 10 and November 17, US crude oil (USO)(USL) January futures fell 0.5%—the first weekly loss in the last six weeks.
US Crude Oil Production Hit a 13-Month High
US crude oil production is at the highest level since February 2016. The rise in crude oil production pressured crude oil prices on March 8, 2017.
Oil Rigs: How They Could Accelerate Natural Gas’s Fall
The natural gas rig count rose by six to 192 in the week ended July 28, 2017.
Is the US Crude Oil Bull Market Sustainable?
Brent crude oil futures closed at $57.54 per barrel on September 29, 2017. Some OPEC officials think that $60 per barrel for crude oil isn’t sustainable.
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.
Saudi Arabia: Weather Will Be a Key Demand Driver of Oil in 2H16
OPEC kingpin Saudi Arabia saw its crude oil production rise by 30,000 bpd (barrels per day) to 10.5 MMbpd (million barrels per day) in July compared to June.
Did Oil ETFs Outperform US Crude Oil Last Week?
Last week, Whiting Petroleum (WLL) rose 11.7%—the largest gainer on our list of oil-weighted stocks. Callon Petroleum (CPE) fell 2.4%.
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.
US Distillate Inventories at Highest Level since 2010
The EIA (U.S. Energy Information Administration) reported that US distillate inventories rose by 1.6 MMbbls (million barrels) to 170.7 MMbbls between January 20 and January 27, 2017.
Crude Oil’s Bumpy Ride: How Are Oil-Weighted Stocks Performing?
Crude oil–weighted stocks outperformed crude oil in the last five trading sessions, but underperformed it since oil’s 2016 low in February.
Crude Oil Futures Hit a 1-Week High
WTI (West Texas Intermediate) crude oil (RYE) (USO) (USL) futures contracts for August delivery rose 1.9% and closed at $44.24 per barrel on June 27, 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.
Energy Calendar for Crude Oil and Natural Gas Traders
Oil and gas producers’ earnings such as Swift Energy, ConocoPhillips, and Continental Resources will depend on crude oil and natural gas prices.
Analyzing Oil ETFs’ Returns Last Week
On November 16–23, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 10.3% and 9.9%, respectively.
Global Crude Oil Supply Outages Drive Crude Oil Prices
The EIA estimates that global crude oil supply outages fell by 72,000 bpd (barrels per day) to 2.2 MMbpd (million barrels per day) in December 2016.
Gasoline Inventories Impact Gasoline and Crude Oil Prices
The API released its weekly inventory report on December 20. It estimates that US gasoline inventories fell by 1.96 MMbbls from December 9–16, 2016.
Fed Fear and Crude Oil: Identifying Stocks with a High Correlation
Last week, crude oil prices fell due to supply glut fears. On August 29, 2016, crude oil prices fell due to market expectations of a rate hike next month.
Why Oil Traders Should Stay Cautious after OPEC Meeting
On November 30, 2017, US crude oil (USO) (USL) active futures rose just 0.2% and closed at $57.4 per barrel.
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.
US Natural Gas Production Rose Last Week
The EIA estimates that US dry natural gas production could average 73.7 Bcf per day in 2017 and 77.7 Bcf per day in 2018.
Crude Oil Prices Could Hit $80 per Barrel in 2018
BBL Commodities is one of the largest oil hedge funds in the world. BBL Commodities expects that Brent crude oil prices could hit $80 per barrel in 2018.
Is Oil Contributing to Natural Gas–Weighted Stocks’ Moves?
EQT (EQT) had a correlation at 53.3% with oil prices in the trailing week. It was the natural gas–weighted stock that might escape oil’s moves.
Will Non-OPEC Oil Supply Dominate Oil Prices in 2018?
On December 14, 2017, US crude oil (USO) (USL) January 2018 futures rose 0.8% and closed at $57.04 per barrel.
Will US Crude Oil Futures Rise above $50 per Barrel This week?
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.
Implied Volatility: Where Will Crude Oil and Natural Gas Be in One Week?
Crude oil’s implied volatility was 28.6% on January 20, 2017. Its 15-day average implied volatility is now 29.2%.
Falling Short Interest in Marathon Oil Stock: What Does It Mean?
As of October 31, 2017, Marathon Oil’s (MRO) total shares shorted (or short interest) was ~35.4 million, whereas its average daily volume was ~11.8 million.
US Crude Oil Prices Are Near a 2-Week Low
US crude oil prices fell in post-settlement trade on April 18, 2017, after the API’s (American Petroleum Institute) crude oil inventory report.
US Crude Oil Futures: Key Support and Resistance
June WTI crude oil (IEZ) (USL) (PXI) futures contracts fell 0.3% to $49.4 per barrel in electronic trade at 4:05 AM EST on April 26, 2017.
Will API Crude Oil Inventories Boost Crude Oil Prices?
For the week ending January 6, 2017, the EIA reported that US crude oil inventories rose by 4.1 MMbbls (million barrels) to 483.1 MMbbls.
Futures Spread: Divergence Is Important for Oil Traders
On December 3, US crude oil January 2019 futures closed ~$1.12 below the January 2020 futures.
Futures Spread: Less Bearish Sentiments for Oil?
On January 7, US crude oil February 2019 futures closed ~$3.1 below the February 2020 futures.