VelocityShares 3x Long Crude Oil ETN
Latest VelocityShares 3x Long Crude Oil ETN News and Updates
How’s Natural Gas Correlated to Crude Oil?
In the past year, the correlation rose between natural gas and crude oil. During August 2015 and December 2015, the 30-day correlation rose significantly.
Brent-WTI Spread Impacts Your Oil-Related Investments
On February 14, WTI crude oil (USO) (USL) (OIIL) (SCO) active futures traded at a discount of $2.84 per barrel compared to Brent crude oil active futures.
Uncertain Times for the Crude Oil Market: Neutral Doji Pattern
June WTI crude oil futures showed the neutral doji pattern on May 9. Oil prices are swinging due to the frequent change in supply and demand dynamics.
Hedge Funds’ Net Long Positions in US Natural Gas Are Low
Hedge funds decreased their net long positions in US natural gas futures and options contracts to a nine-week low for the week ending November 8, 2016.
OPEC Mania Is Back: Will Crude Oil Soar?
US crude oil rose on November 18 due to the market’s belief that OPEC (Organization of the Petroleum Exporting Countries) members might cut their output.
Production Freeze: Saudi Arabia and Iran Are Playing Hide and Seek
Saudi Arabia and Iran are both important to production freeze talks. Both countries have the option to expand their production capacities.
Unexpected Inventory Buildup: Will Crude Oil Hit $52 per Barrel?
The US commercial crude oil inventory data will be reported by the EIA today. Prices may experience volatility due to inventory increasing more than market estimates.
US Crude Oil Inventories Fall Again: How Is Crude Oil Reacting?
According to the U.S. Energy Information Administration’s report on June 29, 2016, US crude oil inventories fell by 4.1 MMbbls in the week ended June 24, 2016.
Strong US Gasoline Demand Supports Gasoline and Crude Oil Prices
The EIA reported that the four-week average US gasoline demand fell by 6,000 bpd (barrels per day) to 9,770,000 bpd from August 5–12, 2016.
Will WTI crude oil hit $54 per barrel?
April crude oil futures for WTI (West Texas Intermediate) broke out of the double bottom pattern. Prices closed at $51.53 per barrel on March 4, 2015.
Why Bill Miller Is Bearish on Oil Stocks
When asked about which sector he is bearish on during an interview with CNBC, Bill Miller said that he is bearish on oil stocks.
Red alert: Will crude oil hit $42 per barrel?
The key support for WTI oil is at $48 per barrel. If crude oil breaks $48 per barrel, it will hit $42 per barrel. The US dollar will also put pressure on crude oil prices.
Middle East Tensions and Slowing US Production Impact Crude Oil
Lately, Middle East tensions and slowing US production are driving oil prices higher. Oil prices gained 21% in April 2015.
$24 Billion Question: Has Crude Oil Hit Rock Bottom?
The latest fund flow data suggest that around $24 billion has gone into oil ETFs in the last 18 months.
How Marathon Oil’s Divestiture Affected Its Production Mix
In 2Q17, Marathon Oil’s (MRO) production mix from continuing operations was ~47.0% crude oil and condensate, ~15.0% natural gas liquids, and ~38.0% natural gas.
How Will Rise in Crude Oil Inventories Affect Crude Oil Movement?
According to the EIA’s (US Energy Information Administration) report on January 18, 2017, US crude oil inventories rose ~2.35 MMbbls (million barrels) for the week ended January 13, 2017.
Crude Oil Inventories Fell: What Does It Mean for Crude Oil?
According to the EIA’s report on January 4, 2017, US crude oil inventories fell ~7.1 MMbbls (million barrels) for the week ended December 30, 2016.
Energy Commodities during Past US Presidential Elections
In the three months following US presidential elections, US crude oil (UWTI) active futures fell in two out of three instances between 2004 and 2012.
US Natural Gas Consumption Rose Last Week
PointLogic reported that US natural gas consumption rose 1.7% from October 6–12, 2016. It’s a key bullish driver for natural gas prices.
Why Did US Diesel Futures Rise This Week?
October NY Harbor ULSD futures rose 1.7% on September 21, 2016. Diesel futures rose despite the larger-than-expected rise in distillate inventories.
How OPEC’s Decision Will Impact Crude Oil’s Movement
According to the EIA’s (U.S. Energy Information Administration) report on September 14, 2016, US crude oil inventories fell 0.6 MMbbls (million barrels) for the week ending September 9.
US Gasoline Inventories Pressured Gasoline and Crude Oil Prices
The EIA reported that US gasoline inventories rose by 600,000 barrels to 228.4 MMbbls (million barrels) from September 2–9, 2016.
US On-Highway Diesel Fuel Prices Fell Again
The EIA reported that US on-highway diesel fuel prices were down 0.4% to $2.39 per gallon on September 12, 2016—compared to the previous week.
Crude Oil Prices Jumped as Inventories Fell
According to the EIA’s report on September 8, 2016, US crude oil inventories fell by 14.5 MMbbls for the week ended on September 2, 2016.
US On-Highway Diesel Fuel Prices Fell for the Tenth Time in 11 Weeks
The EIA reported that US on-highway diesel fuel prices were down 0.1% to $2.40 per gallon on September 5, 2016—compared to the previous week.
Does WLL’s Revenue Growth Trend Suggest More Gains?
Whiting Petroleum’s (WLL) 2Q16 revenue fell by ~48.2% YoY. Its YoY revenue growth was -21% in 2Q15 and -44% in 1Q16.
Will US Gasoline Demand Rise in 2016 and 2017?
The EIA (U.S. Energy Information Administration) reported that the four-week average US gasoline demand was almost flat at 9,751,000 bpd (barrels per day) for the week ending July 29, 2016.
US On-Highway Diesel Fuel Prices Fell for the 6th Straight Week
The EIA estimates that on-highway diesel fuel prices will average $2.36 per gallon in 2016 and $2.71 per gallon in 2017.
Why US Crude Oil Inventories Fell for 9th Consecutive Week
According to the July 20, 2016, U.S. Energy Information Administration report, US crude oil inventories declined by 2.3 MMbbls for the week ended July 15, 2016.
Why South Korea and India Are Bullish Forces for Crude Oil
In this part of the series, we’ll look at some more bullish drivers for crude oil prices over the long term.
US Crude Oil Stockpiles Rose: Will Crude Oil Lose More Ground?
US crude oil stockpiles rose by 6.6 MMbbls in the week ending April 8, 2016—compared to the fall of 4.9 MMbbls in the prior week ending April 1, 2016.
Will Crude Oil Prices Hit $25 per Barrel?
Reuters suggested that Brent prices will average ~$40 per barrel in 2016. The Bank of Abu Dhabi suggests that crude oil prices could test $20 per barrel in the short term.
Crude Oil Price Forecast for 2020: Will It Be Higher or Lower?
Crude oil prices rose more than 40% since the lows in February 2016. They entered into the short-term bull market. They’re still under a long-term bearish trend.
Crude Oil Supply and Demand Gap: Will It Narrow or Widen?
The consensus of slowing US crude oil production will continue to narrow the supply and demand gap as long as demand stays steady.
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.
Crude Oil’s Forward Curve Suggests Low Prices in the Long Term
Crude oil’s forward curve suggests that crude oil prices could hit $40 per barrel in 2016. They may hit $52 per barrel by the end of 2024.
Crude Oil Prices Are Priced in the EIA’s Crude Inventory report
The U.S. Energy Information Administration stated that the US crude oil inventory rose by 4 MMbbls to 486.5 MMbbls for the week ending January 15, 2016.
US Crude Oil Rig Count Fell by 64% in 2015
The US crude oil rig count fell by 64% in 2015. This was the biggest drop in the US crude oil rig count in the last 30 years.
Trend Is My Friend: Jim Rogers and Crude Oil
Jim Rogers says that oil prices are steady at $45 per barrel despite all of the negative news in the market. Prices rebounded and they could trend higher.
Crude Oil Prices Are Trading Close to the Resistance Level
WTI (West Texas Intermediate) crude oil futures contracts for November delivery are trading close to the key resistance level of $46 per barrel.
Crude Oil Prices Fall from the Key Resistance
WTI (West Texas Intermediate) crude oil futures contracts for November delivery fell for the second day. Crude oil prices fell from the resistance of $47 per barrel.
Will Crude Oil Prices Rise after Falling on Friday?
October WTI crude oil futures fell for the second day. Crude oil prices have been fluctuating within a trading channel since early September 2015.
Crude Oil Prices Are Trading in a Downward Trending Range
October WTI crude oil futures rose for the first time after falling for two consecutive days. Slowing US crude oil production is driving crude oil prices.
Will Crude Oil Prices Hit the Next Resistance?
Prices have been trading within a downward trending channel since early September 2015. The rising crude oil stockpile could put pressure on crude oil prices.
Crude Oil Prices Are Steady at $40 per Barrel
Crude oil prices have been trading in a downward price channel since the last week of June 2015. The key support is seen at $38 per barrel.
Citigroup: Crude Oil Prices Might Hit $32 per Barrel
Crude oil prices could go as low as $33 per barrel. Citigroup estimates that crude oil prices might hit $32 per barrel due to oversupply concerns.
Will Crude Oil Prices Hit $40 per Barrel?
Lower crude oil prices are driving imports from India and South Korea. The long-term lower crude oil prices could also boost consumption.
Will WTI crude oil prices break their key support level?
Crude oil prices settled at $50.52 per barrel on March 3, 2015—just above the trend line support of the pattern.
