logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 

Equities – Your destination to connect with the growth investment community.

Crude Oil Prices Rise on Fed Reserve, Crude Reserve Announcements

By  +Follow September 18, 2013 9:10AM
Share:
Tickers Mentioned:

Oil ETFs were on the rise today as the price of crude oil jumped. October contracts for West Texas Intermediate (WTI) crude were up over 2 percent to more than $107 a barrel and November contracts on Brent crude were up over 1.5 percent to almost $110 a barrel. The result in the ETF market was as one expected, with major crude oil ETFs climbing. The United States Oil Fund LP ($USO), which tracks WTI prices, climbed almost 2.5 percent by mid afternoon, and the ProShares Ultra DJ-UBS Crude Oil ($UCO), which is leveraged 200 percent, showed gains of almost 5 percent. Crude bears, meanwhile, took a hit as ProShares UltraShort DJ-UBS Crude Oil ($SCO), which is also leveraged 200 percent, dropped over 5 percent.

Demand for oil remains high, and looks to stay that way

Prices for crude oil jumped today on two news items. News that the Federal Reserve would not be “tapering” its bond-buying program rippled across the economy, and likely supported expectations for continued high demand in the United States. And the news from earlier in the day confirmed that demand has been much higher than expected.

The Energy Information Administration (EIA) reported that American oil stockpiles fell by some 4.4 million barrels to 355.6 million barrels last week. This significantly outpaced the average estimate of 1.2 million barrels that analysts polled by the Wall Street Journal came up with, and it was much higher than the 252,000 barrel decline that the American Petroleum Institute (API) claimed its data showed yesterday. EIA data also revealed that refiners were working at 92.5 percent of their capacity for the second straight week, representing 16.4 million barrels of crude processed.

"The refiners were running like crazy at a time [their capacity utilization] is usually down," said Kyle Cooper, director of research at Houston energy consultancy IAF Advisors. Demand usually peaks during summer months and declines during the fall. The price jump comes after oil dropped last week when it appeared as though a U.S. military strike in Syria was less likely.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Signup for our daily newsletter and get our best articles emailed right to you!

Results for uso
IH News Desk
3 May 15 11:52:09
$CEMP Company Info Updated Sunday, May 3, 2015 2:11:02 PM $EBAY $SWKS $USO $ALNY http://t.co/Bw4YkS4QOL
Jake13
3 May 15 11:52:06
GE General Electric Co. Stock Message Board Click Here -> http://t.co/bYX1fsoMkX Trending $GE $BLUE $USO $AAPL #GE #stocks #stocks
Berliner
3 May 15 11:52:02
RT @CheapStocksUs: Going to be an interesting week for small oils for sure ... $TRCH $WRES $HNR http://t.co/YIJSTn905k $USO
clayton
3 May 15 11:49:07
CYBR Cyber-Ark Software Ltd. Day Low Click Here -> http://t.co/njUYdzuAqY Trending $CYBR $UNH $FV $USO #CYBR #invest #invest
Raffaella DeFilippo
3 May 15 11:39:01
"@OxoTHuk: "@Wavepatterntraders $VIX $SPY $SPX $GLD $GC_F $CL $USO Chopsville This weeks article http://t.co/4wlB7Kkx97 #elliottwave""
Pieter Krügel
3 May 15 11:07:52
RT @MktOutperform: After massive inflows into Crude ETFs earlier in the year, investors starting to pull money out. $USO http://t.co/3iWf2i…
Cratos Capital
3 May 15 11:05:25
RT @MktOutperform: After massive inflows into Crude ETFs earlier in the year, investors starting to pull money out. $USO http://t.co/3iWf2i…
Sam
3 May 15 11:03:50
$HP $V $MA $USO $CY The Week Ahead Webinar : May 5th, 2015 - Update from Option Millionaires - Stock Options Chatr... http://t.co/N0IZlh8mmX
lookn4wins
3 May 15 11:01:33
USO PowerShares DB US Dollar Index Bullish Fund Day Low Click Here -> http://t.co/AAlje4MZjs Trending $USO $VXX $SWKS $CELG #USO…
nasdaqfan
3 May 15 11:01:02
TRX Tesla Motors Inc. News Click Here -> http://t.co/L76u5Gg2u9 Trending $TRX $FEGR $USO $DIG #TRX #share #pennystocks
leahanne
3 May 15 10:57:04
NAT National Bank Of Greece Day High Click Here -> http://t.co/jAkKfCJuU7 Trending $NAT $USO $TECL $CSU.TO #NAT #stock #stockmarket
Penny Stock Secret
3 May 15 10:56:44
This �Millionaire Maker� For Traders Shares His Secrets! Click here http://t.co/NovWYe2RAx .. $USO $EWP $CORN
Corey Rosenbloom
3 May 15 10:54:33
Plotting and Planning the Next Swing Trade in Crude Oil $CL_F $USO http://t.co/AsaS857EBz (triple timeframe strategy) $$
kokushokuwari
3 May 15 10:40:43
http://t.co/wxaz5infnF Weekly closed trade recap video http://t.co/X1S04Ndt0t $SPY $USO $RAD #money #stocks #trading #news #youtube #fi…
Swing Trade Warrior
3 May 15 10:38:11
Weekly closed trade recap video http://t.co/6y9u3IUmUT $SPY $USO $RAD #money #stocks #trading #news #youtube #finance #investing
StockenheimerSchmidt
3 May 15 10:34:07
Platinum Members Saw Our Stock Alerts Gain 3100% In 6 Months! Subscribe Here: http://t.co/KjFX61Pd0S $USO $EWP $CORN
XATS-UK
3 May 15 10:28:43
Any setbacks in the $Oil #ETF $USO to prove limited. Trend remains bullish. http://t.co/ADt5dksLgB
ralph henry
3 May 15 10:25:45
RT Weekly closed trade recap video https://t.co/uEpKhQO192 $SPY $USO $RAD http://t.co/wqKJaTenDi via @YahooFinance
Muathe
3 May 15 10:19:16
[VIDEO REPOST] Wknd Mrkt Analysis 05/03/2015 $SPY $UWTI $EEM $GDX $UGAZ $USO $VXX $UCO $EWZ $IWM $RSX $XLF $NUGT $IYR http://t.co/fwhfERQqw5
Stock Rocket
3 May 15 10:15:20
Our Stock Pick On $THCZ Is Up 587.69% From Our Initial Release! Major News: http://t.co/Wvu7rPUNzU $USO $EWP $CORN
Bradley
3 May 15 10:02:54
$TSLA $GOOGL $USO $C The Week Ahead Webinar : May 5th, 2015 - Update from Option Millionaires - Stock Options Chat... http://t.co/i1r3ji9o0B
Jake13
3 May 15 10:00:05
USO United Technologies Corp. Last Trade Click Here -> http://t.co/nRBMDrWC7g Trending $USO $RDSH $ADMD $TQQQ #USO #finance #finance
Accessatrader.com
3 May 15 09:57:57
RT @danshep55: weekend video . solid week . all about education and process. $vltc $aapl $uso $htz http://t.co/Sn49jntpZY http://t.co/6kCn6…
Penny Stockington
3 May 15 09:55:14
Our Winning Stock Alerts Gained Over 3115% In 6 Months! Huge News: http://t.co/bsG1ysXGSP $USO $EWP $CORN
Investors Hangout
3 May 15 09:53:04
LNKD Lowes Companies, Inc. Open Click Here -> http://t.co/0KPbCw9MKO Trending $LNKD $USO $AET $RAD #LNKD #share #investing
Stockaholics
3 May 15 09:44:14
Our Penny Stock Pick On $TLFX Has Gained 44% In The Past 2 Days! Big News: http://t.co/lfyqjFWSk5 $USO $EWP $CORN
Jason Olive
3 May 15 09:35:53
RT @SeekingAlpha: Peak Russia + Peak USA Means Peak World http://t.co/ddJTAOkK9V $USO $OIL $UCO $RSX $UWTI $SCO $BNO $RUSL $DBO $DWTI $RUSS…
Investing Philosophy
3 May 15 09:35:25
RT @SeekingAlpha: Peak Russia + Peak USA Means Peak World http://t.co/ddJTAOkK9V $USO $OIL $UCO $RSX $UWTI $SCO $BNO $RUSL $DBO $DWTI $RUSS…
krsko
3 May 15 09:32:28
RT @MktOutperform: After massive inflows into Crude ETFs earlier in the year, investors starting to pull money out. $USO http://t.co/3iWf2i…
Seeking Alpha
3 May 15 09:29:11
Peak Russia + Peak USA Means Peak World http://t.co/ddJTAOkK9V $USO $OIL $UCO $RSX $UWTI $SCO $BNO $RUSL $DBO $DWTI $RUSS $DTO $USL $ERUS
Stock Dawgzz
3 May 15 09:28:59
Our Penny Stock Picks Gained 1472% In 2 Months! Get Access To Our New Picks Early: http://t.co/cyLjru6AEk $USO $EWP $CORN
Ambitus Capital
3 May 15 09:18:05
Weekly Update: http://t.co/62uNlD4sfj $SPY $SPX $QQQ $USO
Lucky Jimmy
3 May 15 09:01:04
USO United States Oil Fund, LP Yield Click Here -> http://t.co/3fcWIateQq Trending $USO $AQN.TO $DUST $ETE #USO #nasdaq #tradeideas
Investors Hangout
3 May 15 08:58:33
SLB Schlumberger Ltd. Last Trade Click Here -> http://t.co/WIbrVZnQr6 Trending $SLB $ECIG $LBNDX $USO #SLB #pennystocks #pennystocks
pointgigs
3 May 15 08:57:42
RT @1LuckyJimmy: FMCC Federal Home Loan Mortgage Corp. Investor Opinions Click Here -> http://t.co/gs5G8dzWqQ Trending $FMCC $USO $JD $ARL…
#BUSINESSTOKEN
3 May 15 08:57:29
RT @1LuckyJimmy: FMCC Federal Home Loan Mortgage Corp. Investor Opinions Click Here -> http://t.co/gs5G8dzWqQ Trending $FMCC $USO $JD $ARL…
leahanne
3 May 15 08:55:09
LNKD LinkedIn Corp. Financials Click Here -> http://t.co/aN1pCC73qu Trending $LNKD $MNK $USO $SLV #LNKD #finance #finance
clayton
3 May 15 08:52:12
FXI iShares FTSE China 25 Index Fund Stock Forum Click Here -> http://t.co/wRMQkI6KNS Trending $FXI $FEYE $USO $QIHU #FXI #pennystocks…
Lucky Jimmy
3 May 15 08:51:05
FMCC Federal Home Loan Mortgage Corp. Investor Opinions Click Here -> http://t.co/gs5G8dzWqQ Trending $FMCC $USO $JD $ARLP #FMCC…
IH News Desk
3 May 15 08:50:09
$CYBR Short Sales Updated Sunday, May 3, 2015 11:11:02 AM $ACT $XLU $USO $COW http://t.co/D3UFtF1XcG
Jake13
3 May 15 08:50:04
EFA iShares MSCI EAFE Index Fund Change Click Here -> http://t.co/x5j9sUrtEw Trending $EFA $XLE $USO $SBUX #EFA #investing #stock
rondo
3 May 15 08:29:07
flat eur/usd, $USO, $BBRY
Albuquerque Realtors
3 May 15 08:20:12
http://t.co/agTBHjU0ON Jim5011: FNMA Fidelity Real Estate Pt Shares Click Here -> http://t.co/kTPEKMzFcN Trending $FNMA $NUGT $VTI $USO…
Invest | Donate
3 May 15 08:18:49
@Jim5011: FNMA Fidelity Real Estate Pt Shares Click Here -> http://t.co/ZwYs5me8rh Trending $FNMA $NUGT $VTI $USO #FNMA #invest #stockmar…
royfberger
3 May 15 08:18:07
Be water, my friends. Be water. $MSFT $SPY $F $AAPL $HYG $IMAX $RIG $YHOO $USO $HUN http://t.co/8mR4s08jCl http://t.co/Dc4bjaOpCL
Rosner Stocks
3 May 15 08:02:30
USO PowerShares DB US Dollar Index Bullish Fund Open Click Here -> http://t.co/mzttnS4rgF Trending $USO $SCTY $CMCSA $AEM #USO…
Swing Trade Warrior
3 May 15 08:01:06
Weekly closed trade recap video http://t.co/zOjPUV1z4J $SPY $USO $RAD #money #stocks #trading #news #youtube #finance #investing #swingtrade
Investors Hangout
3 May 15 07:58:06
PB http://t.co/EsnorIRMMw Inc. Day High Click Here -> http://t.co/sIo0VYOuNS Trending $PB $TQQQ $XLF $USO #PB #finance #invest
jim50
3 May 15 07:53:03
FNMA Fidelity Real Estate Pt Shares Click Here -> http://t.co/6y5yd6fniA Trending $FNMA $NUGT $VTI $USO #FNMA #invest #stockmarket
Russell Rhoads
3 May 15 07:52:20
RT @VixUpdates: Oil volatility #OVX continues to crunch in as the oil price recovers $USO $OIL $VIX http://t.co/SOwQjRG6cb
				
				
By  +Follow September 18, 2013 9:10AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN