|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||14.85 - 15.16|
|52 Week Range||12.90 - 24.58|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
Baker Hughes (BHI) published its weekly US oil and gas count report on October 13. US oil rigs fell by five to 743 from October 6 to 13.
Energy has had a tough year, with the Energy Select Sector SPDR (XLE) down just over 9% this year, but the worst pain might be over? Robert W. Baird’s Ethan Bellamy and his team write that even with oil ...
As of early Wednesday, October 11, WTI (West Texas Intermediate) crude oil prices are sitting at a one-week high.
Cushing crude oil inventories rose for the sixth consecutive week. Any rise in Cushing inventories is bearish for crude oil (USO) (USL) (SCO) prices.
Oil prices climbed at the end of last week, helped by news of yet another storm that curtailed production in the Gulf of Mexico. Guggenheim’s Michael LaMotte and Subash Chandra expect the effects to be transitory, but warn that the spread between Brent and West Texas Intermediary prices may be here to stay.
After dominating the sector fund universe for much of this year, techs and biotechs are being dethroned by energy and other industrials.
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories rose by 1.6 MMbbls to 218.9 MMbbls on September 22–29, 2017.
Hence, they upgraded the energy sector to attractive today. First, Rats writes that the while the energy sector will certainly change "profoundly" in the coming decades, this transformation will take time, allowing a medium-term cyclical recovery to take center stage. Second, he writes that oil prices are supported by strong demand--this is the third year in a row it's run above historical trends--and that's been more than enough to offset higher production in the U.S. and elsewhere.
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.
On September 29, the CFTC (U.S. Commodity Futures Trading Commission) is slated to release its weekly “Commitment of Traders” report.
It's estimated that India's crude oil imports rose 210,000 bpd to 4.4 MMbpd (million barrels per day) in August 2017—a 5% month-over-month rise.
Cushing crude oil inventories rose on September 15–22, 2017. A rise in Cushing crude oil inventories is bearish for crude oil (UWT) (DWT) (USO) prices.
WTI (West Texas Intermediate) crude oil (RYE) (VDE) futures hit $26.21 per barrel on February 11, 2016—the lowest level in more than a decade.
The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 157,000 bpd (barrels per day), or 1.7%, to 9,510,000 bpd between September 8, 2017, and September 15, 2017....
The U.S. Energy Information Administration or EIA on Wednesday released data showing higher domestic crude inventory. U.S. stockpiles rose by 4.6 million barrels for the week ended Sept. 15, above S&P ...
On September 19, 2017, Iraq’s oil minister indicated that major producers' output cut deal would be extended beyond March 2018.
The EIA estimates that weekly US gasoline demand rose by 456,000 bpd (barrels per day) to 9.6 MMbpd (million barrels per day) on September 1–8, 2017.
Baker Hughes (BHI) released its weekly US crude oil rig count report on September 15. It reported that the US crude oil rig count fell by seven to 749 between September 8 and September 15.
As we approach the third-quarter earnings season Morgan Stanley’s Michael Wilson and his team write that they expect history to repeat itself: Just as stocks have rallied sharply into previous earnings seasons as investors realize estimates are too low, they think they will again this quarter. Wilson writes that some of the strongest negative momentum trends have been in energy stocks, a global equity markets “that has delivered impressive breadth of performance,” making it stand out. More from his note: Energy stocks have responded to these signals and exhibited their best two week relative performance since September 2016.
With U.S. shale becoming an ever-more important factor in the oil market, a number of supply chain companies have gotten attention from investors, but Morgan Stanley’s Robert Pulleyn and his team call oil country tubular goods (OCTG) the “forgotten link.” In a new note, Pulleyn says that investors would do well to remember this “key bottleneck” to delivering rising shale production volumes. More from his note: Our analysis suggests that consensual expectations for growth in shale production should equate to ownership of OCTG stocks. Growing shale volumes requires greater intensity of external capital, employees, frac sand, pressure pumping, rigs and OCTG than produc- tion elsewhere.
On September 12, Weatherford International’s (WFT) implied volatility was 49.3%. Since its 2Q17 financial results were declared on July 28, WFT’s implied volatility (or IV) has fallen from ~62% to the ...