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

By  +Follow October 2, 2013 9:02AM
Tickers Mentioned:

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
2 Sep 15 11:57:15
$USO oil won't stay this high for that much longer $CL_F
2 Sep 15 11:57:08
NEW POST: End of Summer Jump http://t.co/pEq4S7E3gF $ACI $BTU $DWTI $USO $UWTI
2 Sep 15 11:56:52
$USO still has some life left in it. The upside momo (squiggly yellow line) has held at highs since it bo this AM http://t.co/eXMWk33M4R
2 Sep 15 11:56:27
Trying to jump in some $USO Sept11 14 puts at 0.14
Green Lantern
2 Sep 15 11:55:02
Long $LOCK, $NFLX. Short $USO.
Stocks Pastor
2 Sep 15 11:49:51
$USO was a good one for intraday flip
2 Sep 15 11:48:24
RT @SeekingAlpha: Oil Price Impact On Single Country ETFs http://t.co/SMvtgFAv4v $EWC $FXI $GXG $INDA $NGE $NORW $QAT $RSX $UAE $USO
fifi ferenghi
2 Sep 15 11:46:54
RT @nanexllc: Crude Futures just slipped below $43.50. What a wild ride over last few days $CL_F $USO
2 Sep 15 11:43:02
What a crazy day for $oil. Nice to see buying into the close vs the typical selling.Could mean times r changing. Going higher IMO $uwti $uso
Green Lantern
2 Sep 15 11:43:00
@goody $USO short avg. is at $15.27.
Time=Best Stock
2 Sep 15 11:42:55
RT @ACInvestorBlog: $USO Crude still going ... $46.40 now...
trader j
2 Sep 15 11:41:59
RT @ACInvestorBlog: $USO back over $46 .... !! nice pop
2 Sep 15 11:40:08
Go figure out $USO, I dare you! Thats confusing EVERYBODY Bull & Bear, fundamentalist, & technical analyst.
2 Sep 15 11:38:44
$ANFI spiking hard just like $ACI. 100%+ upside potential P/E of 3 $IWM $RSX $EWT $XIV $USO $SSO investors read http://t.co/L1jwUV6Bag
2 Sep 15 11:38:20
$CL_F $USO Well blew out last at RS my thoughts on leaving $$ on the table haven't changed since I wrote this in 2010 http://t.co/AanWBLbXnA
Dr. Duru
2 Sep 15 11:35:29
$USO bounce intraday right next to the 50% retracement point of that big thre-day rally. Nice timing.
Green Lantern
2 Sep 15 11:35:19
Shorted $USO at $15.30.
Pete Stock
2 Sep 15 11:34:58
Oil move today would be extremely bullish $USO 15.30 from 14s +1 from lows
Option Runners
2 Sep 15 11:34:24
Oil going again $USO
erik paul
2 Sep 15 11:34:05
#WTI $CL_F just F*cked the most with new Hod on very bearish weekly #EIA $USO now +3.25%
Poor Will
2 Sep 15 11:33:35
$uso next stop 15.4 http://t.co/jSorBZQdEn
2 Sep 15 11:33:29
Boom 46.42 TS # at top of day's Range Short hit on pit close. In the style of Yakov Smirnoff .. "What a country!" $CL_F $USO
Antonio Costa
2 Sep 15 11:33:25
$USO Crude still going ... $46.40 now...
2 Sep 15 11:31:35
$HP $V $MA $USO $CY September 2nd, 2015 Watch List - Update from Option Millionaires - Stock Options Chatroom Mark... http://t.co/lmJHzQBCC0
Phil Martin
2 Sep 15 11:31:29
$USO http://t.co/o0W8PzPlKE
2 Sep 15 11:29:38
http://t.co/aV04SGRUmy <-- In a few months this guy will likely be Super_trades 1st Millionaire student! $USO $ZQK $PRKR #Trading
Billy Walsh
2 Sep 15 11:28:50
$USO Stop 15.21
Miles J. Stoner
2 Sep 15 11:28:29
$USO nice reversal,
2 Sep 15 11:28:09
$EWJ News Updated Wednesday, September 2, 2015 2:07:52 PM $IYT $USO $FXY $RSP http://t.co/kH3FqEngKF
2 Sep 15 11:28:06
Avoid Oil Futures ETFs, Buy Equities Like XLE $XLE $USO $UWTI http://t.co/zxbRm9xCUi
Green Lantern
2 Sep 15 11:27:37
Bought $USO $14 puts at $0.05.
2 Sep 15 11:27:01
What a day! $CL_F $USO
Wall Street Newscast
2 Sep 15 11:26:55
$FPP hedged oil at $55 a barrel, value buy at $1.02 per share (chart) http://t.co/2h7GiTpCVj $PWE $PGN $GTE $USO #WTI #oilstocks #crudeoil
Mr Cristtĭan Dësch
2 Sep 15 11:26:18
RT @ACInvestorBlog: $USO back over $46 .... !! nice pop
2 Sep 15 11:26:08
Boom! RS test again! $CL_F $USO
Antonio Costa
2 Sep 15 11:25:59
$USO back over $46 .... !! nice pop
Dawn Rinaldi
2 Sep 15 11:25:32
$USO $SCO out -$-.40 too whippy $USO looks likes wants higher stop limit
2 Sep 15 11:24:14
$uso - right again https://t.co/UdwVHaZhCu
alpe pinnazzo
2 Sep 15 11:22:07
#hft algo news analyzers put pressure to upside in oil due to ..."5 Chinese navy ships off coast of Alaska" ?? $USO oh my oh my !!!!! $XLE
2 Sep 15 11:21:05
10 min. Here is .75 TS # for confirmation. Can I get another RS test? $CL_F $USO
Market Zoo
2 Sep 15 11:21:02
U.S. Drivers Will Put Oil Prices in Reverse $USO $UWTI http://t.co/FbCNkhIzMx via @YahooFinance
2 Sep 15 11:20:52
How oil looks today with the TS TradePlan Indicator for @NTEcosystem .. 15 min til pit close. $CL_F $USO http://t.co/n5NiCFCdRH
Seeking Alpha
2 Sep 15 11:18:18
Oil And Why Low Prices Are Self-Correcting Mechanism http://t.co/iq4Fi5pPfn $USO $OIL $UCO $UWTI $SCO $BNO $DBO $DWTI $DTO $USL $DNO $OLO
Stock Market Outlook
2 Sep 15 11:18:18
Oil And Why Low Prices Are Self-Correcting Mechanism http://t.co/Mo8EF5oYZu $USO $OIL $UCO $UWTI $SCO $BNO $DBO $DWTI $DTO $USL $DNO $OLO
Energy Stocks SA
2 Sep 15 11:18:18
Oil And Why Low Prices Are Self-Correcting Mechanism http://t.co/2xlGFJNkjg $USO $OIL $UCO $UWTI $SCO $BNO $DBO $DWTI $DTO $USL $DNO $OLO
Seeking Alpha
2 Sep 15 11:18:17
Oil And Why Low Prices Are Self-Correcting Mechanism http://t.co/fGoop4Wi7i $USO $OIL $UCO $UWTI $SCO $BNO $DBO $DWTI $DTO $USL $DNO $OLO
2 Sep 15 11:16:30
Holding 45.28 TS # expecting squeeze into pit close. Needs over 45.75 TS # for confirmation. 15 min til pit close. RS day's high. $CL_F $USO
2 Sep 15 11:15:35
Who wants it!? $CL_F $USO
2 Sep 15 11:15:14
Oh my look out above oil $CL_F $USO
James DiPlata
2 Sep 15 11:15:10
RT @IHNewsDesk: $BABA Financials Updated Wednesday, September 2, 2015 1:11:45 PM $XLB $USO $UUP $MO http://t.co/26GY4X6xUb
By  +Follow October 2, 2013 9:02AM



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