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Energy ETFs Rise on Crude Oil Prices, Fall on Natural Gas Prices

By  +Follow October 2, 2013 9:02AM
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Those ETFs tracking the price of crude oil jumped today as crude prices rebounded from lows yesterday that finished just over $102 a barrel. Prices rallied today, with contracts for November 13th delivery jumping over 1.75 percent to about $103.80 a barrel by the afternoon. This carried crude oil ETFs with it, with the United States Oil Fund ($USO) gaining over 2.1 percent, the iPath S&P GSCI Crude Oil Total Return (OIL) rose almost 2.25 percent, and the PowerShares DB Oil Fund ($DBO) jumped over 1.5 percent.

Crude Oil Prices Rise as Pipeline Section Nears Completion

Several factors could have affected crude oil on Wednesday, with the biggest news item being the announcement from TransCanada (TRP) that the southern spur of the Keystone pipeline was nearing completion. The Canadian petroleum company said that the Gulf Coast section of the pipeline, which could carry as much as 700,000 barrels a day if completed, was about 95 percent finished.

Also acting on crude prices was news that crude oil stockpiles in Cushing, OK fell for a 13th straight week, a record stretch. Dropping another 59,000 barrels, stocks reached 32.8 million barrels, the lowest level since February of 2012. Many believe that a completed Keystone pipeline could continue to cut into that supply.

"This is going to add to the drain on Cushing quite a bit," said Again Capital’s John Kilduff in reference to the near-completed southern spur.

Still others saw today’s price-jump as a market correction after a lengthy slide in oil prices. With calming tensions over Syria, the threat of geopolitical supply disruptions has appeared lower and dropped prices for weeks.

Tariq Zahir of Tyche Capital Advisors said "we were due for this kind of a bounce after what we have seen."

ETFs Fall with Natural Gas Prices

Natural gas, meanwhile, moved sharply against oil, with contracts for November 13 delivery falling over 1.75 percent in value on Wednesday. This took popular natural gas ETFs down, with the United States Natural Gas Fund (UNG) off almost 1.75 percent and United States 12 Month Natural Gas (UNL) falling almost 2 percent. This comes amid news that a major storm continues to develop near the Gulf of Mexico. The storm isn’t predicted to disrupt supply, but profit-takers opted to sell on Wednesday just to be safe. Natural gas has already be losing ground as cooler fall weather means Americans are using less air-conditioning and, as a result, less natural gas.

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.


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Results for uso
Stock$Surfer
23 Oct 14 04:07:09
thnx Capgain' / USO $USO http://t.co/93fvDZxrsy
Luke Parker
23 Oct 14 03:36:15
A continuation of the downtrend? $USO http://t.co/PE7leSaSXL
Luke Parker
23 Oct 14 03:35:13
Another large crude oil inventory number... A break to the downside again perhaps? $OIL $OIH $USO
Mad Money Trades
23 Oct 14 02:56:35
http://t.co/GWioCi2DLa capgain: I think $USO is the one most like: capgain http://t.co/5pe0GkxoQE http://t.co/GWioCi2DLa
BrutusMaximus
23 Oct 14 02:52:56
current long positions : $CS, $DB, $YELP, $MCP, $RIG, $DO, $WLT, $USO, $CORN, $JJG, $GLD, $SLV , $TBT, $VXX
Ro Patel
23 Oct 14 02:35:18
US CPI vs consumer energy prices from 1960-2013 - $XLU $UGA $UNG $USO http://t.co/18pFQowLRv
Ro Patel
23 Oct 14 02:32:15
2013 US consumer energy spend as % of disposable income: 5% vs 5.5% 53yr avg - $UNG $USO $UGA $XLU http://t.co/UPpwoQBurG
Stock Relay
23 Oct 14 02:11:40
$FNMA 52Wk High Click Here: http://t.co/ruozz9MlrV Also See: $USO $CJTF $MBLY $HEMP ~
Ro Patel
23 Oct 14 01:59:14
Libya's OPEC governor wants "OPEC to cut production by at least 500K bpd" "The oversupply is about a million" - $USO $OIL $OIH
Stockaholics
23 Oct 14 01:17:34
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $USO $EWP $CORN
Stock Relay
23 Oct 14 01:17:21
$EVRY Company Info Click Here: http://t.co/B77NmrSxx0 Also See: $USO $TSLA $PFE $ELTP ~
Stock Relay
23 Oct 14 01:09:44
$EVRY 52Wk High Click Here: http://t.co/rTB1LoWKZq Also See: $QLD $WMT $HVU.TO $USO ~
$TF_f Alerts
22 Oct 14 23:57:58
Confidently trade $USO Crude http://t.co/VqqzBd9Y6A
Optietrading-Mischa
22 Oct 14 23:32:02
RT @SJosephBurns: RT @361Capital: Thorns in the Market Today: $IWM $USO $XLE $FEZ $BA $BIIB $NTRS $DFS $VMW $ECA $TUP $XRX http://t.co/ZRPW…
'ga re Tshwane'
22 Oct 14 23:23:42
RT @Hubon: The US has too much oil, we need some place where we can burn it down $USO http://t.co/Qq1HpHlq4R
Call Me Baloo
22 Oct 14 23:23:08
The US has too much oil, we need some place where we can burn it down $USO http://t.co/WeDGtfHQYL
Stock Relay
22 Oct 14 23:05:52
$DUST Change Click Here: http://t.co/QyGxK7lFpA Also See: $ATPAQ $USO $FITX $MBLY ~
LunaticTrader
22 Oct 14 22:40:47
Key reversal levels Oct 23. MoM turns down for Euro. $SPY $GLD $USO $TLT $EURUSD $FTSE $DAX http://t.co/63EzwrFSWs
Langan Stocks
22 Oct 14 22:15:59
$TRTC Day High Click Here: http://t.co/uDdE6SIBjH Also See: $USO $PAL $DIA $TNA ~
NQ Fractalerts
22 Oct 14 22:09:46
Tell us what you think about this weeks $USO alert. How are you trading it? http://t.co/UYh4XiQkkk
Steve Burns
22 Oct 14 21:57:03
RT @361Capital: Thorns in the Market Today: $IWM $USO $XLE $FEZ $BA $BIIB $NTRS $DFS $VMW $ECA $TUP $XRX http://t.co/ZRPWXzKeOm”
EUR Fractalerts
22 Oct 14 21:05:40
Tell us what you think about this weeks $USO alert. How are you trading it? http://t.co/lPuYElQQCK
Nick Arrott II
22 Oct 14 20:59:10
RT @momotrader: Crude oil is getting precariously close to busting under $80 here in overnight trade. Not a great sign. $USO $OIH
Fractals
22 Oct 14 20:50:54
New $USO alerts have recently been posted. Check them out now. http://t.co/dtmqImBS4L
Action Trades
22 Oct 14 20:45:45
RT @momotrader: Excellent! - a great correlation chart. If oil goes under $80, mkt pain awaits >> RT: @TraderRL23: $USO $IWM $SPY http:…
Rambouillet Sheep
22 Oct 14 20:44:52
RT @momotrader: Crude oil is getting precariously close to busting under $80 here in overnight trade. Not a great sign. $USO $OIH
momotrader
22 Oct 14 20:39:38
Excellent! - a great correlation chart. If oil goes under $80, mkt pain awaits >> RT: @TraderRL23: $USO $IWM $SPY http://t.co/i2OQ16523q
Ed Riley
22 Oct 14 20:37:30
$uso let's see if crude oil can break below $80. It's 80.20 and it's time for bed, I'll be shocked if it stays above. http://t.co/UZiqPywVaZ
BAD BOYZ AUCTION
22 Oct 14 20:28:30
RT @momotrader: Crude oil is getting precariously close to busting under $80 here in overnight trade. Not a great sign. $USO $OIH
Stock Relay
22 Oct 14 20:28:26
$CSX 52Wk Low Click Here: http://t.co/dFlb7johMG Also See: $ELTP $USO $FVI.TO $BBRY ~
Mrs. Fan
22 Oct 14 20:28:22
RT @momotrader: Crude oil is getting precariously close to busting under $80 here in overnight trade. Not a great sign. $USO $OIH
momotrader
22 Oct 14 20:28:10
Crude oil is getting precariously close to busting under $80 here in overnight trade. Not a great sign. $USO $OIH
Charlie Sheen
22 Oct 14 20:17:02
RT @RaginCajun: Let Oil Be Your Guide | Momentum Trading with RaginCajun http://t.co/Ix0X1bKCQI $USO
Woll Street
22 Oct 14 20:10:26
RT @RaginCajun: Let Oil Be Your Guide | Momentum Trading with RaginCajun http://t.co/Ix0X1bKCQI $USO
RC
22 Oct 14 20:07:49
Let Oil Be Your Guide | Momentum Trading with RaginCajun http://t.co/Ix0X1bKCQI $USO
Stock Relay
22 Oct 14 19:34:55
$CPE Day Low Click Here: http://t.co/DPsN5ZiSJs Also See: $CNQ.TO $MU $USO $AKRX ~
Stock Relay
22 Oct 14 19:14:56
$CLF Ask Click Here: http://t.co/sffCrleclK Also See: $GRCU $USO $TD.TO $MJNA ~
charts not opinions
22 Oct 14 19:13:22
@walkslow4 @RaginCajun $Uso crude needs to go where speculators want/need it to go ST but listen to $HAL and $SLB,there's $$ to b made long
charts not opinions
22 Oct 14 19:05:20
So the USA is the only country that can frack a friggin oil/gas? I think not, only matter of time before everyone's doin it, LT $USO down
Michael W
22 Oct 14 18:54:54
"@TraderRL23: An important comparison chart I look at through out the day. Crude oil is speaking? $USO $IWM $SPY http://t.co/0SIv7lOm8D" Yep
Mike Mustafoglu
22 Oct 14 18:52:38
“@zerohedge: Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil http://t.co/FXUm3sY6wE” $USO $OIL
Luis Gutierrez
22 Oct 14 18:30:50
Gas prices fueling a goldilocks effect among consumers: not too hot, not too cold. Just fine, don't mess it please. $XLE $USO
Michael W
22 Oct 14 18:24:56
$USO
TV_Trading Ideas
22 Oct 14 17:52:13
The next support is @ $29. Watch out for the sector $USO http://t.co/j7TP6TSZAt
Ethan Jo
22 Oct 14 17:16:37
RT @SeekingAlpha: 8 Major Reasons Why The Current Low Oil Price Is Not Here To Stay http://t.co/BSBj1vSOtA $BNO $DBO $OIL $UCO $USO
Langan Stocks
22 Oct 14 17:08:17
$HALB Shares Click Here: http://t.co/6kO8EdNBHE Also See: $USO $HEMP $IBM $QLD ~
Langan Stocks
22 Oct 14 16:32:28
$GRCU Current Price Click Here: http://t.co/TgAbgjQ8wc Also See: $SQQQ $USO $ROX $DE ~
ETF Trends
22 Oct 14 16:31:02
After a Swoon, Investors Rush Back to #Oil ETFs http://t.co/rSPtIRuo1c #ETF #energy $USO $DBO $BNO $UCO $DTO $UUP
Tom Lydon
22 Oct 14 16:25:15
After a Swoon, Investors Rush Back to #Oil ETFs http://t.co/SiYf0sn3X1 #ETF #energy $USO $DBO $BNO $UCO $DTO $UUP
ac_eco
22 Oct 14 16:02:59
RT @macroQmicro: via @DividendMaster Saudis want $70 oil because it kills their MidEast enemies as well as fracking in USA -Gundlach $BNO $…
				
				
By  +Follow October 2, 2013 9:02AM
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