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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for uso
Evan Medeiros
1 Jul 15 17:57:54
NEW VIDEO: market analysis & trade ideas http://t.co/6ScLS8zzK3 $SPY $IWM $USO $AAPL $NFLX $BABA $TWC $JACK and more
OLR
1 Jul 15 17:54:37
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
vaheelfan
1 Jul 15 17:48:36
$uso bulls need a bounce tomorrow... http://t.co/x3yae6FnCm
Optionsstocks update
1 Jul 15 17:43:34
“@Taarriqq: New low $CL_F $OIL $USO -4% $XLE down again $$ flagged institutionals put options block,6000 con http://t.co/BIjP4yyzgb"""”
IH News Desk
1 Jul 15 17:42:23
$SCO Stock Forum Updated Wednesday, July 1, 2015 8:11:31 PM $KMI $XOP $USO $SMH http://t.co/hBE5RaPeI2
Stockaholics
1 Jul 15 17:36:55
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeF3OQ $USO $EWP $CORN
Pilar Demesa
1 Jul 15 17:28:27
$GPRO really strong today... Oil not so much new 52kw low $USO $OIL $UCO $UWTI
Sam
1 Jul 15 17:24:17
$HP $V $MA $USO $CY Closing Remarks - Update from Option Millionaires - Stock Options Chatroom Stocks had a strong... http://t.co/FEIkkjW7O9
Bradley
1 Jul 15 17:22:18
$TSLA $GOOGL $USO $C Closing Remarks - Update from Option Millionaires - Stock Options Chatroom Stocks had a stron... http://t.co/xqRnHyKbHP
StockenheimerSchmidt
1 Jul 15 17:04:23
Our Stock Pick On $PPCH Is Up 370% For Our Subscribers, Since Our Original Release At .02! Huge News: http://t.co/Ab9x726B1J $USO $EWP $CORN
RosemaryintheKitchen
1 Jul 15 16:59:03
RT @BakkenShale: Oil below $63 as Greece defaults, OPEC 'floods market' http://t.co/qNyUU0OddH $CL_F $OIL $USO $UWTI $UCO #OIL #BakkenShal…
Fort Standard
1 Jul 15 16:42:21
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Penny Stockington
1 Jul 15 16:37:56
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $USO $EWP $CORN
Jeremy Mullin
1 Jul 15 16:33:14
Oils future $uso $dwti http://t.co/38waOwnQ3E
Dawn Rinaldi
1 Jul 15 16:23:02
Doing a lot of watching not trading. Some key lvls being tested $USO $RSX $GDX. They look like gonna fail $DXY poised to jump. The greeks!
Stock Dawgzz
1 Jul 15 16:22:41
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1yqlzk $USO $EWP $CORN
Dallas Salazar
1 Jul 15 16:20:06
Down 29% since we made the BK call... $SD $UNG $UGAZ $DGAZ $KOLD $BOIL $USO #oil #natgas #pig http://t.co/db2CpMe788 http://t.co/0QwYKHNCiO
Investing Jungle
1 Jul 15 16:15:12
$USO Daily closed below Fib support and 100ma, next Fib supp levels on the chart for opex tomorrow $wtic $cl_f $OIL http://t.co/2WkPrdea4C
HaizmansBrain
1 Jul 15 16:12:23
@HerbertRTarlicJ @big7x7 Hope he doesn't end up like Vince once she finds out $USO is shit. :)
Ben Silverberg
1 Jul 15 16:12:17
Leading market sectors lower Wednesday included: $VIX $XLE $XOP $XME $RSX $USO $UNG $GLD $GDX $SLV $TLT
Stock Rocket
1 Jul 15 16:10:02
Our Penny Stock Newsletter Alerts Gained 200% In 2 Weeks! Get Our Next Pick Early: http://t.co/4eX1MHBloV $USO $EWP $CORN
Connie Bradberry
1 Jul 15 15:45:34
USO United States Oil Fund, LP Ex-Div Date http://t.co/dJSXkUhhVK $USO $TWTR $INTC $XIV #USO #stockmarket #stockmarket
Scott Smith
1 Jul 15 15:45:28
$SCO Starting to show more evidence of $OIL #stocks like $UWTI $USO $OAS $GASL $FMSA $UCO $XLE $XOM $CL_F topping out http://t.co/Gi0zKmQKbR
OneStopTruckingJobs
1 Jul 15 15:44:15
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Christy Tryhus
1 Jul 15 15:44:09
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Loclyz Media
1 Jul 15 15:44:08
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Alison Cohen
1 Jul 15 15:44:07
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
YoHobby New York
1 Jul 15 15:44:00
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Gun_4W
1 Jul 15 15:43:59
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Brittany Westbrook
1 Jul 15 15:43:53
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Loring
1 Jul 15 15:43:48
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
ItsMissZee
1 Jul 15 15:43:46
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Rodel N. Casio
1 Jul 15 15:43:27
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Andrew Secrest
1 Jul 15 15:43:24
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
CuteWeb
1 Jul 15 15:43:24
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Biba Pedron
1 Jul 15 15:43:18
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
David Ogden
1 Jul 15 15:43:17
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Lindsay Berra
1 Jul 15 15:43:16
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Harriette Preli
1 Jul 15 15:43:01
$USO $UCO $UWTI $OIL stabilizing on they're way back up
Ernest D'Amico
1 Jul 15 15:43:00
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Melinda P Elliott
1 Jul 15 15:42:56
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Sharp Communications
1 Jul 15 15:42:55
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Andy Vaughn
1 Jul 15 15:42:52
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Indy Biz Startup
1 Jul 15 15:42:50
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Alon's Dunwoody
1 Jul 15 15:42:47
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
David Theisen
1 Jul 15 15:42:33
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Attain Marketing
1 Jul 15 15:42:29
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Tyrese Cruise
1 Jul 15 15:42:28
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Roberts Home AV Inc.
1 Jul 15 15:42:27
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
Northwest Meat
1 Jul 15 15:42:26
RT @philstockworld: #Greece looks "fixed" again but #China down 5% again: #Oil #Gasoline $USO $GREK $FXI -- http://t.co/bEoAwNfKCj http://t…
				
				
By  +Follow October 2, 2013 9:02AM
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