SPDR® S&P Oil & Gas Explor & Prodtn ETF
Latest SPDR® S&P Oil & Gas Explor & Prodtn ETF News and Updates
Financials Double top and double bottom patterns in technical analysis
The double top pattern forms in the uptrend. In this pattern, two consecutive peaks are formed. The peaks both have roughly the same price level.
Must-know: An overview of Chevron Corporation
CVX is headquartered in San Ramon, California. It’s an energy company that engages in oil and gas exploration, production, refining, marketing, and transportation of oil and gas.Energy & Utilities Southwestern is among the largest US oil and natural gas producers
Headquartered in Houston, Texas, Southwestern Energy Corporation (SWN) is one of the largest independent natural gas and oil producers in the United States.
US Crude Oil Production Fell and Boosted Oil Futures
US crude oil production fell by 290,000 bpd (barrels per day) or 3% to 9,492,000 bpd between December 29, 2017, and January 5, 2018.
Cushing Inventories Fell 33% from the Peak
Analysts expect that Cushing crude oil inventories could have declined on January 5–12, 2018. A fall in Cushing inventories is bullish for oil prices.
Where Is US Crude Oil Headed? An Energy Update
On August 30, US crude oil October futures settled at $55.1 per barrel. On a week-over-week basis, US crude oil prices rose 1.7%.
Rise in Oil Pushed Energy ETFs Higher
US crude oil active futures have risen 8.6% in the trailing week, which might have boosted or limited the downside in OIH, XOP, XLE, and AMLP. They have returned 5.8%, 5%, 3.7%, and -0.7%, respectively.
Key Energy Events This Week
The EIA’s crude oil and natural gas inventory data are scheduled to be released on April 25 and April 26, 2018, respectively.
Commodities Are Strong in the Early Hours on January 26
At 4:00 AM EST on January 26, the West Texas Intermediate crude oil futures for March 2018 delivery were trading at $65.44 per barrel—a drop of 0.11%.
Is Natural Gas Pricing in Colder Weather?
On January 23, 2018, natural gas February 2018 futures settled $0.34 above February 2019 futures.
Commodities Are Strong Early on January 24
At 4:00 AM EST on January 24, the West Texas Intermediate crude oil futures for March 2018 delivery were trading at $64.50 per barrel—a gain of 0.05%.
Analyzing Commodities in the Early Hours on January 23
At 5:55 AM EST on January 23, the West Texas Intermediate crude oil futures for March 2018 delivery were trading at $63.88 per barrel—a gain of 0.49%.
US Oil Exports Could Threaten International Oil Prices
In the week ending January 12, 2018, US crude oil exports were at ~1.25 MMbpd—234,000 barrels per day more than the previous week.
Natural Gas Market Could Be Pricing In a Supply Deficit
On January 16, 2018, the gap between natural gas’s February 2018 futures and February 2019 futures was $0.07, or the futures spread.
Iraq’s Crude Oil Production Capacity Could Hit 5 MMbpd
The EIA estimated that Iraq’s crude oil production increased by 60,000 bpd to 4,380,000 bpd in December 2017—compared to the previous month.
The Top 5 Upstream Companies Based on Return on Equity
The company with the highest trailing 12-month ROE (return on equity) as of 3Q17 is Carrizo Oil & Gas (CRZO) with an ROE of 52.1%.
US Oil Exports Are Crucial for Oil Prices in 2018
On January 8, 2018, Brent crude oil (BNO) active futures were $6.05 stronger than WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures.
US Gasoline Inventories Could Pressure Crude Oil Prices
The EIA estimated that US gasoline inventories increased by 4.8 MMbbls (million barrels) or 2.1% to 233.1 MMbbls on December 22–29, 2017.
Should Oil Traders Follow US Oil Exports in 2018?
On December 29, 2017, the price difference between Brent crude oil (BNO) active futures and WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures was $6.45.
Will the US Dollar Help Crude Oil Bulls or Bears in 2018?
The US Dollar Index fell 0.5% to 92.12 on December 29, 2017—the fourth consecutive day of losses. It’s near a three-month low.
Natural Gas: Have Oversupply Concerns Eased?
On December 19, natural gas (UNG)(BOIL)(FCG) January 2018 futures closed $0.31 below its January 2019 futures.
Commodities Are Strong in the Early Hours on December 20
Gold and silver are strong early on December 20. The lower global risk appetite and weak US dollar are supporting gold prices in the early hours.
US Crude Oil Rigs Indicate Future US Crude Oil Production
Baker Hughes released its weekly US crude oil rig report on December 15, 2017. US crude oil rigs fell by four to 747 or 0.5% on December 8–15, 2017.
Are Natural Gas Supply Fears Rising?
On December 6, natural gas (UNG)(BOIL) January 2018 futures traded at a discount of ~$0.24 to January 2019 futures. This price difference between January 2018 futures and January 2019 futures is called the “futures spread.”
How OPEC and Russia Are Helping US Crude Oil Producers
January West Texas Intermediate (or WTI) crude oil (USO) (SCO) futures contracts fell 0.65% and were trading at $57.98 per barrel at 1:10 AM EST on December 4, 2017.
Which Natural Gas–Weighted Stocks Could Take Cues from Oil?
Antero Resources (AR) and Gulfport Energy (GPOR) are among the natural gas–weighted stocks that had the highest correlations with natural gas prices in the trailing week.
Will OPEC’s Meeting Help Crude Oil Bulls or Bears?
OPEC’s meeting will be held on November 30, 2017. Reuters said that OPEC might extend the production cuts for nine more months.
Are Oversupply Concerns Gripping Natural Gas Prices?
On November 22, natural gas (UNG)(BOIL) January 2018 futures closed at a discount of ~$0.2 to January 2019 futures.
Futures Spread: Is the Oil Market Tightening?
On November 7, 2017, US crude oil (OIIL) December 2018 futures settled $2.08 below the December 2017 futures.
Russia’s Crude Oil Exports Could Pressure Oil Futures
Russia’s energy ministry estimates that the country’s crude oil exports rose 2% or by 160,000 bpd (barrel per day) in the first nine months of 2017.
Understanding the Natural Gas Futures Spread: Are Oversupply Concerns Rising?
On November 1, natural gas December 2018 futures settled $0.22 above December 2017 futures. On October 25, the futures spread was at a premium of $0.11.
Is the Oil Market Balancing?
On October 31, 2017, US crude oil (USO) December 2018 futures settled $1.4 below December 2017 futures.
Understanding the Natural Gas Futures Spread—And What It Means for Prices
On October 25, 2017, natural gas December 2018 futures closed $0.11 above the December 2017 futures.
Reading the Natural Gas Futures Spread: Rising Oversupply Concerns
On October 11, 2017, the futures spread was at a premium of $0.13. Between then and October 18, natural gas November futures fell 1.2%.
Which Industries Increased Production Last Month?
The Federal Reserve released its September industrial production report on October 17. The report indicated that key sectors in the US economy increased production in September.
Why the Natural Gas Futures Spread Is Concerning Markets
When the futures spread is at a premium, or the premium rises, it could hamper the rise in natural gas prices.
Futures Spread: A Look at Natural Gas Supply–Demand Concerns
On October 4, 2017, natural gas (UNG) (GASL) November 2018 futures traded $0.08 above the November 2017 futures.
Understanding the Oil Futures’ Forward Curve
On September 26, 2017, US crude oil November 2017 futures traded just $0.14 below the November 2018 futures.
US Gasoline Demand Today: Bullish or Bearish for Crude?
The EIA estimates that weekly US gasoline demand fell 178,000 bpd (barrels per day) to 9.4 MMbpd between September 8 and September 15.
US Dollar Could Help Crude Oil Futures
The US Dollar Index fell 0.1% to 91.97 on September 22, 2017. However, the US dollar rose 0.7% on September 20, 2017, after the FOMC’s meeting.
US Gasoline Inventories Fell for 4th Time in 5 Weeks
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories fell 2.1 MMbbls (million barrels), or 1%, to 216.1 MMbbls between September 8, 2017, and September 15, 2017.
Are US Crude Oil Supply and Demand Tightening?
WTI (West Texas Intermediate) crude oil (XLE)(XOP)(USO) futures contracts for October delivery rose 2.2% to $49.3 per barrel on September 13.
Decoding Helmerich & Payne’s Dividend Yield
What’s driving Helmerich & Payne’s high yield? Contract oil and gas well driller Helmerich & Payne (HP) recorded a sharp drop in its 2016 operating revenue due to declines in its US drilling, offshore, and international segments. Its revenue fell 19% in 2015, compared with 51% in 2016. Its operating income, as a result, ended […]
Have Oil Supply Glut Concerns Relaxed since Harvey?
On September 5, US crude oil October 2018 futures traded at a premium of $1.94 to October 2017 futures. On August 29, the premium was at $2.37.
Natural Gas: Analyzing the Futures Spread
On August 30, 2017, natural gas October 2018 futures traded at a discount of ~$0.03 to October 2017 futures.
Harvey and API Crude Oil Inventories: The Impact on Crude Futures
US crude oil futures contracts for October delivery fell 0.3% to $46.44 per barrel on August 29, 2017.
Oil’s Futures Spread: Have Supply Glut Concerns Increased?
On August 29, 2017, US crude oil (USL) October 2018 futures traded at a premium of $2.37 to October 2017 futures.
Natural Gas Futures Spread: Analyzing Supply-Glut Concerns
On August 23, 2017, natural gas September 2018 futures traded at a discount of $0.03 to September 2017 futures.
Could US Gasoline Demand Fall in the Coming Months?
The EIA estimates that US gasoline demand will fall 275.0 Mbpd (thousand barrels per day) to 9.5 MMbpd (million barrels per day) August 4–11, 2017.
US Gasoline Inventories Pressured Gasoline and Crude Oil Futures
The EIA reported that US gasoline inventories rose by 22,000 barrels or 0.1% to 231.1 MMbbls (million barrels) on August 4–11, 2017.
