VelocityShares 3x Long Crude Oil ETN
OPEC Pumps Oil at a Record Level: Should Energy Investors Wait?
The fall in oil prices on October 11 coincides with the market’s doubts about the execution of the output limit deal among OPEC members on September 28.
Could Shrinking US Crude Oil Inventories Boost Oil Prices?
According to the EIA’s report, US crude oil inventories fell by 3.2 million barrels for the week ended June 3, 2016.
Largest Weekly Decline for US Gasoline Inventories since April 2016
The EIA reported that US gasoline inventories fell by 2.5 MMbbls to 238.1 MMbbls for the week ending May 13. It’s the largest decline since April 8, 2016.
How Does Gasoline Demand Impact Crude Oil Prices?
The EIA reported that US gasoline demand rose by 12,000 bpd to 9.8 MMbpd between July 15 and July 22. It rose by 0.12% week-over-week and 4.9% YoY.
US Crude Oil Rig Counts Rose by 4 Last Week: What Does It Mean?
On October 14, 2016, Baker Hughes (BHI) released its weekly US crude oil rig count. It reported that the US crude oil rig count rose by four to 432 rigs from October 7–14, 2016.
Crude Oil Traders Are Skeptical about OPEC Production Cap Plans
WTI (West Texas Intermediate) crude oil futures contracts for November delivery fell 1.1% and closed at $50.79 per barrel on October 11, 2016.
Which Key Economic Indicators Were Released Last Week?
Some important economic indicators that were released last week include US crude oil inventories, US weekly jobless claims, US retail sales, and China’s industrial production.
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.
Us Dollar Hits Monthly Highs and Weighs on Oil Prices
The US dollar began 2016 on a bullish note and was trading at 99.5 levels in the early hours of trade on January 6. Crude prices began 2016 on a bearish note.
Saudi Arabia’s Crude Oil Production Rose to an All-Time High
Saudi Arabia’s crude oil production rose by 3,000 barrels per day to 10.7 MMbpd in August 2016. Its crude oil production hit an all-time high in August 2016.
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.
Production Mix and Realized Prices: How Do Pioneer’s Compare?
In 4Q15, Pioneer Natural Resources’ production mix was ~53% crude oil, ~19% natural gas liquids, and ~28% natural gas.
OPEC Is Scaring Oil Investors—Again
US crude oil November futures rose 2% in the week ending September 23. WTI crude closed at $44.48 per barrel that day—a ~4% fall from the previous day.
Crude Oil Prices Seem Directionless: Spinning Top Pattern
WTI crude oil futures for June delivery showed the emergence of the spinning top pattern on May 8, 2015. The spinning top is a candlestick pattern.
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.
What’s Supporting the Recovery in the Russian Index?
Russia (RSX) is an oil-dependent economy. The crude oil (USO) (UWTI) (UCO) downturn started in June 2014.
Will the US Crude Oil Rig Count Rise after the Election?
Baker Hughes released its weekly US crude oil rig count. The US crude oil rig count rose by nine to 450 rigs between October 28 and November 4.
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.
Gravestone Doji Pattern: Crude Oil Prices Could Reverse
WTI crude oil futures for June delivery show the emergence of the gravestone doji pattern on May 7, 2015. The strong technical momentum could drive oil prices.
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.
September US Gasoline Consumption Hits Record for This Time of Year
The EIA reported that the four-week average US gasoline demand fell by 36,000 bpd (barrels per day) to 9,296,000 bpd between September 30 and October 7, 2016.
Why Is Crude Oil Falling Sharply?
US crude oil (UWTI) (USO) (OIIL) (USL) (SCO) (DWTI) December futures fell 9.5% in the week ending November 4, 2016, on a closing price basis.
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.
How Inventories and OPEC Decision Are Affecting Crude Prices
According to the EIA’s (U.S. Energy Information Administration) report on October 5, 2016, US crude oil inventories fell 3.0 MMbbls (million barrels) for the week ended September 30, 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.
How Lower Refinery Margins Impact Crude Oil Prices
Gasoline production increased due to lower crude oil prices in 2015 and 1H16. This stemmed from higher refinery margins for oil refiners.
Trump’s Energy Policy: How Are Crude Oil Prices Reacting?
On November 9, 2016, after Trump’s victory, both crude oil and energy stocks recovered, along with the broader markets. US crude oil active futures rose 0.60%.
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.
How Are Oil-Weighted Stocks Reacting to Crude Oil?
On November 14, 2016, the WTI crude oil December contracts closed at $43.32 per barrel. The contracts were ~0.2% lower than the previous closing price.
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.
US Dollar Influences Crude Oil Prices
US crude oil (USO) (USL) (OIIL) (DWTI) (UWTI) (SCO) futures contracts for November delivery rose ~9% between September 27 and October 4, 2016.
US Crude Imports Pile Worries on Inventories
The record US crude oil imports are due to the low price of crude but also to the ties between large independent US refiners and Middle Eastern producers.
A Look at Encana’s Production Mix and Realized Prices
In 1Q16, Encana’s (ECA) production mix was ~66% natural gas, ~21% crude oil, and ~13% natural gas liquids. Its total liquids production was at ~34%.
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.
US Gasoline Inventories Fell for the Third Straight Week
The EIA (U.S. Energy Information Administration) reported that US gasoline inventories fell by 2,700,000 barrels to 232.7 MMbbls from August 5–12, 2016.
US Crude Oil Inventory Rises Less than Expected
The US crude oil inventory rose by 2.1 million barrels for the week ending April 15, 2016.
Crude Oil Prices Test Key Psychological Level
Crude oil is trading close to the psychological mark of $30 per barrel, but the appreciating dollar and record supplies are putting pressure on oil prices.
Will the United States Recover or Lose Out?
Investors have once again flocked to bonds, the Japanese yen, and gold due to the 10.0% fall in China’s exports and concerns over a major rejig by the central banks.
Crude oil gains as the US dollar falls, but it still faces a glut
Crude oil prices increased by ~2%. The commodity was trading at $46.7 per barrels on January 27, 2015, due to the depreciating US dollar.
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.
Marc Lasry on Energy Sector: A Good Opportunity?
According to Marc Lasry, heavy oil-weighted (USO) (UCO) (UWTI) stocks could be a better bet in the overall energy sector.
Why Rigs Could Boost Your Bearish Bets
The US crude oil rig count was 477 in the week ended December 2, 2016, a rise of three rigs compared to the previous week.
Are Oil-Weighted Stocks Outperforming Crude Oil after OPEC Deal?
From November 28 to December 5, 2016, an equally weighted basket of oil stocks rose 15.8% compared to a 10.0% rise in WTI crude oil futures contracts for January.
OPEC Deal: Which Oil-Weighted Stocks Track Crude Oil Closely?
On December 5, 2016, WTI crude oil January contracts closed at $51.79 per barrel. Optimism after OPEC’s deal fueled bullish sentiments among traders.
Crude Oil Inventories Rose: What Does It Mean for Crude Prices?
US crude oil inventories rose 5.3 MMbbls (million barrels) in the week ended November 11, 2016.
Energy Stocks Could Ride Higher on an OPEC Deal
Optimism around OPEC’s deal fueled bullish sentiments among traders and helped oil prices continue their upturn.
US Gasoline Inventories Pressure Gasoline Prices
The EIA (U.S. Energy Information Administration) reported that US gasoline inventories rose by 0.7 MMbbls to 221.7 MMbbls from November 4–11, 2016.
Why Are US Gasoline Futures near a 1-Month Low?
December gasoline futures fell 0.8% to $1.32 per gallon on November 16, 2016. Prices fell due to an unexpected rise in US gasoline inventories.
U-Turn in Oil Prices Post-Election: What Investors Should Know
At 1:09 PM EST on November 9, 2016, US crude oil active futures were trading at $45.69 per barrel, 1.6% above the previous day’s closing price.
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.
Will US Non-Farm Payrolls Impact Crude Oil Prices?
US (VFINX) (VOO) non-farm payrolls rose by 161,000 in October 2016, according to the U.S. Bureau of Labor Statistics’ report released on November 4, 2016.
OPEC Renews Supply Glut Fears: Crude Oil–Weighted Stocks React
On October 31, 2016, the WTI crude oil December contracts closed at $46.86 per barrel. The contracts were ~3.8% lower than the previous closing price.
Implied Volatility: Analyzing Crude Oil and Natural Gas
Crude oil’s (UWTI) (USO) (OIIL) (USL) (SCO) (DWTI) implied volatility was 35.4% on October 28, 2016. Its 15-day average implied volatility is 31.6%.
Oil Pares Gains Due to OPEC’s Deal: What about Energy Stocks?
On October 24, the WTI crude oil December contracts closed at $50.52 per barrel. Oil prices fell due to growing doubts about OPEC’s recent deal.
Hedge Funds Increased Net Long Positions in US Natural Gas Again
On October 14, 2016, the CFTC reported that hedge funds increased their net long position in US natural gas futures and options contracts for the third time in the last five weeks.
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.
What Will Rising Crude Oil Inventories Mean for Crude Oil Movement?
According to the Energy Information Administration report on October 12, US crude oil inventories rose by 4.9 MMbbls for the week ending October 7.
Hedge Funds Increase Their Net Long Position in US Natural Gas
Hedge funds increased their net long position in US natural gas futures and options contracts by 12,456 contracts to 124,065 contracts from September 20–27.
XLE Is the Boss in the Broader Markets
From September 22–29, 2016, the Energy Select Sector SPDR ETF (XLE) rose 1.6%. It was the only gainer among the SPDR ETFs that we’re covering.
Why Goldman Sachs Lowered Year-End Oil Forecast to $43 per Barrel
Goldman Sachs has lowered its 2016 year-end target for crude oil (USO) (BNO) from $50 per barrel to $43 per barrel.
Crude Oil Inventories and the OPEC Meeting in Focus
According to the EIA’s (U.S. Energy Information Administration) report on September 21, 2016, US crude oil inventories fell by 6.2 MMbbls.
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.
US On-Highway Diesel Fuel Prices Fell for the Ninth Week
On August 17, the EIA released its “This Week in Petroleum” report. US on-highway diesel fuel prices were down 0.25% to $2.31 per gallon on August 15, 2016.
How Will Rising Crude Oil Inventories Affect Prices?
According to the EIA’s (U.S. Energy Information Administration) report on August 10, 2016, US crude oil inventories rose by 1.1 MMbbls (million barrels) in the week ended August 5.
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 Seventh Week
On August 3, the EIA reported that US on-highway diesel fuel prices fell by 1.3% to $2.35 per gallon on August 1, 2016—compared to the previous week.
High Gasoline Inventories Are a Game-Changer for Global Crude Oil Market
Citigroup estimates that global gasoline inventories stand at 500 (million barrels. Record gasoline inventories have pressured gasoline prices.
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 US On-Highway Diesel Fuel Prices Fell for 4th Straight Week
The EIA reported that US on-highway diesel fuel prices fell 0.37% at $2.41 per gallon on July 11, 2016, compared to the previous week. Prices fell for the fourth straight week.
Pioneer Natural Resources’ Free Cash Flow Normalized to Production
Pioneer Natural Resources’ free cash flow as normalized to total production declined substantially in the last quarter. This was mainly due to the much lower operating cash flows.
Gasoline Inventories Could Limit the Rise of Gasoline Prices
The EIA reported that US gasoline inventories rose by 1.4 MMbbls (million barrels) to 239 MMbbls for the week ending June 24, 2016.
Canadian-Tracking ETFs Rise on Oil Cues Despite Low Manufacturing
Manufacturing activity in Canada saw a steep decline as the Ivey PMI (Purchasing Managers’ Index) fell to 49.4 in May from 53.1 in April.
Why David Rubenstein Thinks Crude Oil Could Rally to $70 in 2017
Rubenstein believes that crude oil could rally to $70 per barrel next year since crude oil moves in a periodic manner. Once the downside period is over, he says the upside period will continue.
Devon Energy’s Production Mix and Realized Prices
Excluding the effect of hedges, Devon Energy’s (DVN) average realized crude oil and bitumen price in 1Q16 was $20.06 per barrel, down by ~43% from $35.17 per barrel in 1Q15.
Can WPX Energy Stock Keep Rallying after Its 1Q16 Earnings?
Since January 2016, WPX Energy stock has been in a new uptrend. It’s clearly making a pattern of higher highs and higher lows.
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.
Heating Oil and Diesel Fuel Prices Were Almost Flat
The EIA reported that US residential heating oil prices were almost flat at $2.13 per gallon on March 28—compared to March 21, 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.
$38.50: The Next Immediate Resistance Level for WTI Crude Oil
The WTI crude oil futures for April 2016 rose by 5.5% and closed at $37.90 on March 7. In the last two trading sessions, WTI crude futures have been consolidating around $36–$38.
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.
Why Is Crude below the Psychological Level of $33.87?
On February 25, 2016, WTI crude oil futures for April closed at $33.07. The prices of $33.87 and $26 are crucial psychological price levels for crude oil.
Double Bottom Pattern: Crude Oil Prices Could Trend Higher
Crude oil prices fell below the key psychological mark of $30 per barrel on February 19. The double bottom pattern suggests that crude oil prices could trend higher.