|Bid||73.31 x 1800|
|Ask||73.32 x 3200|
|Day's Range||72.67 - 73.52|
|52 Week Range||61.80 - 78.39|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
The Energy Select Sector SPDR (NYSEArca: XLE), the largest equity-based energy ETF, jumped by about 4% last week in what is perhaps the latest sign that the energy sector rebound is proving legitimate. ...
Analysts estimate that Cushing inventories could have increased on April 13–20. A larger-than-expected rise in Cushing inventories could pressure oil prices.
On April 20, 2018, major oil producers’ meeting was held in Jeddah to discuss extending ongoing production cuts. The meeting highlighted OPEC’s higher compliance with ongoing production cuts. On April 20, Saudi Arabia’s energy minister said that production cuts could continue into 2019. The expectation of an extension supported oil prices last week. Brent and US crude oil prices increased ~2% and ~1.5% respectively, last week.
The energy sector (XLE) rose 2.6% last week because of the continued surge in oil prices, which will likely remain in focus given that President Trump started tweeting about OPEC and crude prices. The industrial and consumer discretionary sectors rose 2.1% and 1.7%, respectively, while the financial (XLF) sector rebounded by 1.6% due to the increase in bond yields. Large speculators of the S&P 500 Index, which include hedge funds, increased net bullish positions last week.
Kinder Morgan (KMI) stock rose 7.4% last week. The company reported strong 1Q18 results on April 18 after the markets closed. KMI rose 2.3% on April 19. Kinder Morgan also opened last week strong with a 2.3% rise on Monday, followed by a 2.2% rise on Tuesday.
On April 13–20, 2018, US equity indexes had the following performances: The S&P 500 Index (SPY) rose 0.5%. The Dow Jones Industrial Average Index (DIA) rose 0.4%. The S&P Mid-Cap 400 Index (IVOO) rose 0.9%.
As of April 16, 2018, the Energy Select Sector SPDR ETF (XLE), which tracks an index of US energy companies, had returned ~4% over the last year. The VanEck Vectors Oil Services ETF (OIH), which tracks an index of 25 OFS (oilfield equipment and service) companies, had returned -12%. National Oilwell Varco (NOV) underperformed XLE and OIH, returning ~1%. National Oilwell Varco also underperformed the SPDR S&P 500 ETF (SPY), which had returned 15% in the past year. NOV accounts for 0.06% of SPY.
Cabot Oil & Gas (COG) stock started weak this year and mirrored natural gas prices (UNG). Cabot Oil & Gas stock has fallen ~1.5% YoY (year-over-year). The stock has underperformed the Energy Select Sector SPDR ETF (XLE), which has increased ~4.3% during the same period.
Oil prices and energy stocks have gotten a boost lately, and after languishing for ages, it's finally time to start paying attention, says Credit Suisse's James Wicklund. The firm upgraded the energy sector late last month to Market Weight after four years of underperformance, and Wicklund says that we're seeing signs of a true turnaround at long last. Wickland highlights that recently, companies have even delayed delivery of capital equipment to maintain margins and returns--a positive pattern of behavior.
The largest exchange-traded fund to track the energy sector declined in early trading on Friday, after President Donald Trump tweeted that crude-oil prices were "artificially high." The Energy ...
Between April 12 and April 19, 2018, energy subsector ETFs’ correlations with US crude oil June futures were as follows: the VanEck Vectors Oil Services ETF (OIH): 91.4% the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 79.6% the Energy Select Sector SPDR ETF (XLE): 49.6% the Alerian MLP ETF (AMLP): -59.3%
The S&P 500 fell ~0.5% to 2,693.13 on April 19, 2018, due to a decline in consumer staples and real estate stocks. Eight out of the ten major sectors in the S&P 500 fell on April 19, 2018.
Commodities rallied furiously Thursday morning, but leveled off by the afternoon -- a lesson for any investor to be wary of any asset class that rises too much, too fast. Brent crude gained 0.41% to $73 per barrel, West Texas Intermediate was roughly flat ending the day at around $68. Earlier in the session, Brent and WTI had both been up more than 1%.
The US Bureau of Labor Statistics releases a monthly report that tracks price trends in wholesale markets. Industries from the manufacturing sector (XLI) are surveyed for changes in input prices, and this survey data is used to construct the PPI (Producer Price Index). The survey comprises questions on raw material prices, production levels, and finished goods.
The EIA released its weekly crude oil inventory report on April 18, 2018. The EIA reported that US crude oil inventories decreased by 1 MMbbls (million barrels) to 427.5 MMbbls on April 6–13, 2018. The inventories dropped by 104.7 MMbbls or ~20% YoY (year-over-year).
May 2018 WTI crude oil futures contracts rose 0.9% from the previous settlement and were trading at $67.13 per barrel at 2:25 AM EST on April 18, 2018.
Hedge funds’ net long position in WTI crude oil futures and options contracts trading in NYMEX and ICE decreased by 3,275 to 441,634 on April 3–10, 2018. The net long positions fell for the second straight week.
As of the week ending April 13, 2018, the US rig count was 1,008, up 8.5% compared to the week ending December 29, 2017. Growth in the US rig count could boost Halliburton’s (HAL) revenues and earnings growth in 1Q18. The US rig count increased 41% in 4Q17 compared to the US rig count in 4Q16. Revenue by geography
Whiting Petroleum (WLL) stock has shown stellar performance since the beginning of this year, rising ~35% since the start of 2018. On a year-over-year basis, the stock has risen ~13%.
Oil prices jumped in early trading after President Trump attacked oil. Yahoo Finance’s Seana Smith, Pras Subramanian, Jen Rogers and Andy Serwer discuss.