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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.

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Results for uso
RoscoP
1 Apr 15 09:33:54
RT @LieutDunbar: $uso needs to keep climbing in order for $BBG to close over 20SMA. $OAS is in breakout mode, $EXXI good to $4.00+
TopstepTrader
1 Apr 15 09:32:46
$CF_L back at $50. $USO $DWTI
Trill Trades
1 Apr 15 09:30:10
@paulwoll Interesting, $USO purely or $XLE and friends?
Thomas Rice
1 Apr 15 09:29:58
RT @paulwoll: BREAKING NEWS: Explosion and fire on the oil platform in Gulf of Mexico. 45 hurt and 300 evacuated. $USO $XLE $OIH
Woll Street
1 Apr 15 09:29:11
Said on weekend look for $USO long entry mid-week for long April. I added yesterday given EOQ games...
Stratton BROakmont
1 Apr 15 09:29:05
@moon_shine15 I was thinking that too. Love the chart, and if $uso makes a short term move this should too. Thanks for the thought.
InTheMoneyStocks.com
1 Apr 15 09:29:00
These FREE Trade Alerts Yesterday, Just Paid 20K+: See And Learn Here... http://t.co/SG9gpRwZ65 $LL $USO
moonshine
1 Apr 15 09:28:18
@BROakmont with $uso perking up a bit too-- could gets nice bounce
Woll Street
1 Apr 15 09:27:38
$USO upside target if breaks over down TL is 20 on weekly
Jase
1 Apr 15 09:27:33
$uso sprinting to $18 $wti
OM_freebies
1 Apr 15 09:25:07
Options Training Video: Psychology of Trading Stocks & Options https://t.co/D5dx6fQ3oC #trading #stocks $qld $uso $uup $uwm $jnj $iwm
marco grisantelli
1 Apr 15 09:24:12
RT @paulwoll BREAKING NEWS: Explosion and fire on the oil platform in Gulf of Mexico. 45 hurt and 300 evacuated. $USO $XLE $OIH
Serafinos
1 Apr 15 09:22:23
RT @paulwoll: BREAKING NEWS: Explosion and fire on the oil platform in Gulf of Mexico. 45 hurt and 300 evacuated. $USO $XLE $OIH
i_like_bb_stock
1 Apr 15 09:21:40
Interesting $SPY and $USO been going in opposite directions lately
Woll Street
1 Apr 15 09:21:27
BREAKING NEWS: Explosion and fire on the oil platform in Gulf of Mexico. 45 hurt and 300 evacuated. $USO $XLE $OIH
alpe pinnazzo
1 Apr 15 09:12:01
Germany: fracking ok since 2016 $EWG $USO $SLB $BHI
jmsarmiento -JMSV75
1 Apr 15 09:11:29
#TRMX $LABB $PBR $USO HACIENDOME EL DIA, YA LLEVO +30% EN PBR
TradeMe UP
1 Apr 15 09:09:30
This #IranTalks has the $USO vs $SCO ETF matchup raging!! #daytrader #stocks
Kyle
1 Apr 15 09:04:48
RT @bespokeinvest: This week's build in crude oil inventories marked a record 12 straight weeks of weekly increases. https://t.co/rJrxs7LR8…
Marc Kellener
1 Apr 15 09:04:22
$USO 18's @ .08 small yolo @DR__Shine
Common King
1 Apr 15 09:04:07
"@scheplick: This chart of oil rigs is just mind blowing. I've seen a ton of people share it so far - $CL_F $USO http://t.co/QHjO9PbfmH"
MarketWeight
1 Apr 15 09:02:39
RT @bespokeinvest: This week's build in crude oil inventories marked a record 12 straight weeks of weekly increases. https://t.co/rJrxs7LR8…
Like2trade
1 Apr 15 09:02:08
$UCO $uso $pva $uwti $oil $pbr $CPE Brent rises to $57 after EIA inventory data http://t.co/hoJ7KqG8XB
erik paul
1 Apr 15 09:01:28
@CL_fTrader NICE... thats what we do! stick to a plan the works & be patient! $CL_F $USO #trading
San
1 Apr 15 09:01:00
CRUDE Oil chart update: http://t.co/2ZnSlL268h $CL_F $USO $OIL
ken wood
1 Apr 15 09:00:00
$CL_F $USO beauty trade on woodie bar charts 160 plus tics for traders so far trling stop going http://t.co/7HIS45qJKa
$XOM
1 Apr 15 08:59:41
RT Gr8estBot: $SCTY $SLB $SPY $TLT $TSLA $TWTR $USO $V $VXX $WBA $XOM $YHOO http://t.co/DDu364Hu4w … … http://t.co/DDu364Hu4w
$XOM
1 Apr 15 08:59:41
RT NewsWBA_: RT Gr8estBot: $SCTY $SLB $SPY $TLT $TSLA $TWTR $USO $V $VXX $WBA $XOM $YHOO … … … … … … http://t.co/DDu364Hu4w
Lt. Dunbar
1 Apr 15 08:58:24
$uso needs to keep climbing in order for $BBG to close over 20SMA. $OAS is in breakout mode, $EXXI good to $4.00+
CL_fTrader
1 Apr 15 08:55:15
Update on $USO - i stuck to a plan and it worked http://t.co/FkhfwZNOAI
Jeff Sandene, CFP®
1 Apr 15 08:54:09
RT @business US #Oil Imports From OPEC Have Plunged to 28-Year Low http://t.co/18RTcxystf h/t @Stalingrad_Poor $USO $OIL $WTI #Brent
Common Man Investor
1 Apr 15 08:54:00
RT @alpepinnazzo: Oil extend gains as inventory data shows pickup in gasoline demand $USO
Cutlass
1 Apr 15 08:52:42
RT @SwatOptions: $USO those APR.02 CALLs at 10:32AM EST just went from 0.10$ up to 0.25$ and going... http://t.co/9Vi3soqgMC
Hard Assets Investor
1 Apr 15 08:52:26
Gold Jumps After ADP Jobs Miss; Oil Edges Up As Iran, Inventories Eyed $GLD $USO http://t.co/t3ke11kjNY
Gavin Martinsson
1 Apr 15 08:51:31
@asyurei3 just sell $19 $USO Calls.
Aman - Ashley
1 Apr 15 08:51:21
@GEQSense How about I get 18 strike April $USO puts for starters, 50 contracts of that. See if that starts working then we can puke more.
FinanzLinksUSA
1 Apr 15 08:51:11
RT @bespokeinvest: This week's build in crude oil inventories marked a record 12 straight weeks of weekly increases. https://t.co/rJrxs7LR8…
CNBC ShitShow
1 Apr 15 08:50:58
@CNBCShitShow $USO the little engine that could
Bespoke
1 Apr 15 08:49:45
This week's build in crude oil inventories marked a record 12 straight weeks of weekly increases. https://t.co/rJrxs7LR80 $USO
Options Network
1 Apr 15 08:49:07
$USO those APR.02 CALLs at 10:32AM EST just went from 0.10$ up to 0.25$ and going... http://t.co/9Vi3soqgMC
❥ ✞ Moka Akashiya ✞
1 Apr 15 08:48:41
Wall Street Losing Millions From Bad Energy Loans || #Markets #Money #Banks #Oilprice #rt $USO $OIL || http://t.co/1MH4SLaDMu
ken wood
1 Apr 15 08:48:32
$CL_F $USO beauty trade long going for super cci traders, robots going well on it as well
Pete Stock
1 Apr 15 08:47:45
Oil new HOD looking good for next levels 18.40-18.60 $USO
Live Trading News
1 Apr 15 08:46:04
$USO Wednesday's Technical Analysis: WTI Crude Oil (USO) http://t.co/X0kzg1aC1k via @livetradingnews
$XOM
1 Apr 15 08:44:10
RT Gr8estBot: $SCTY $SLB $SPY $TLT $TSLA $TWTR $USO $V $VXX $WBA $XOM $YHOO http://t.co/DDu364Hu4w … … http://t.co/DDu364Hu4w
$XOM
1 Apr 15 08:44:10
RT NewsWBA_: RT Gr8estBot: $SCTY $SLB $SPY $TLT $TSLA $TWTR $USO $V $VXX $WBA $XOM $YHOO … … … … … http://t.co/DDu364Hu4w
Sheldon McIntyre
1 Apr 15 08:36:00
Charts point to mean reversion in some of the major currencies, commodities and emerging markets in Q2. $FXC $FXA $USO $DBC $EEM $EWZ
Pete Stock
1 Apr 15 08:34:39
$USO and even if there was a deal with Iran and WH, no way it gets done with GOP maniacs. Gartman bottom as long as 16.80 holds
Robert Paulson
1 Apr 15 08:34:05
PEMEX Oil Platform Explodes; Injuries Reported As Hundreds Evacuate http://t.co/IqjyC8Wu9R $USO
PolgarStocks
1 Apr 15 08:33:41
$BX Percent Change Updated Wednesday, April 1, 2015 11:07:05 AM $EWZ $TLT $USO $FWM http://t.co/AIY7qKZa3l
				
				
By  +Follow October 2, 2013 9:02AM
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