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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
James DiPlata
26 Apr 15 12:56:54
RT @EvanMedeiros: NEW POST: markets higher after busy week of earnings http://t.co/TDT8ELjFeD $SPY $QQQ $USO $AAPL $FB
Fractals
26 Apr 15 12:45:19
Tell us what you think about this weeks $USO alert. How are you trading it? http://t.co/QcUKWqmswx
Stock Forums
26 Apr 15 12:34:07
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Marco Di Dionisio
26 Apr 15 12:08:57
RT @EvanMedeiros: NEW POST: markets higher after busy week of earnings http://t.co/TDT8ELjFeD $SPY $QQQ $USO $AAPL $FB
Chasing Stars
26 Apr 15 12:02:45
$UVE stock Exchange Click Here: http://t.co/0T9sCQUmd8 Also See: $USO $RSX $TQQQ $RSX #stockmarket #tradeideas ~
Venky Srinivasan
26 Apr 15 12:01:29
"@evanmedeiros NEW POST: markets higher after busy week of earnings http://t.co/2bIbcCZEUb $SPY $QQQ $USO $AAPL $FB"
Evan Medeiros
26 Apr 15 11:54:04
NEW POST: markets higher after busy week of earnings http://t.co/TDT8ELjFeD $SPY $QQQ $USO $AAPL $FB
kenr0966
26 Apr 15 11:46:01
RT @sssvenky: $USO Cup & Handle on Daily timeframe with bullish technicals. Looks good for upcoming week. http://t.co/Wq32Et4Tb7
Venky Srinivasan
26 Apr 15 11:44:02
$USO Cup & Handle on Daily timeframe with bullish technicals. Looks good for upcoming week. http://t.co/Wq32Et4Tb7
Sqwii
26 Apr 15 11:38:16
Weekend Outlook updated on http://t.co/AsRdvEIVSZ $SPX $VIX $INDU $SPY $GLD $UNG $USO $UCO $QQQ $DIA
Investors Hangout
26 Apr 15 11:20:37
$CNC stock Stock Message Board Click Here: http://t.co/iuAcbd9S6N Also See: $GDX $ADBE $USO $TSLA #stockmarket #tradeideas ~
dough
26 Apr 15 11:10:36
BLOG: Robyn's trade of the week: $USO straddle: http://t.co/QODwfqZCb4 #trading #howto
Investors Hangout
26 Apr 15 11:08:08
$USO stock 52Wk Low Click Here: http://t.co/lYNf6EAWbl Also See: $TS $UYG $BIDU $FCX #stockmarket #tradeideas ~
Forex News™
26 Apr 15 10:53:53
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Trade Fractals
26 Apr 15 10:50:53
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Chasing Stars
26 Apr 15 10:41:44
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GLD Fractalerts
26 Apr 15 10:04:04
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Thomas Paul
26 Apr 15 10:02:33
RT @harmongreg: $SPY Trends and Influencers April 25, 2015 - Dragonfly Capital http://t.co/6u1C7zX54e $IWM $QQQ $GLD $TLT $USO and more
Fractal Trading
26 Apr 15 08:58:45
New $USO alerts have recently been posted. Check them out now. http://t.co/lbH8y4iqIR
XATS-UK
26 Apr 15 08:45:53
Sentiment remains strong in the #US $OIL #ETF $USO. Consolidation to turn higher. http://t.co/ADt5dksLgB
Ariel
26 Apr 15 08:34:37
RT @lunatictrader1: World stock markets outlook for Week of April 27, 2015 http://t.co/cPIuAgbyWf $SPY $QQQ $GLD $TLT $USO
Muathe
26 Apr 15 08:24:14
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royfberger
26 Apr 15 08:12:07
Be water, my friends. Be water. $MSFT $SPY $F $AAPL $HYG $IMAX $RIG $YHOO $USO $HUN http://t.co/8mR4s08jCl http://t.co/3BCk1RCMKy
Adam Grimes
26 Apr 15 08:11:54
Commodity performance last week, volatility adjusted $gld $gc_f $study #oil #gold $uso $xle http://t.co/6d55xyAVJx
#HelpYouGetGAINS
26 Apr 15 08:09:14
U.S. Data Fed Dollar In The Week Ahead http://t.co/qA8944W5Is $EWG $EWJ $EWQ $FORX $FXB $FXE $FXS $FXY $TLT $UDN $UDNT $USDU $USO
Mike Mustafoglu
26 Apr 15 08:02:39
$USO $GLD $SPY $TLT $FXE https://t.co/fMGTxrYA4X
#HelpYouGetGAINS
26 Apr 15 07:58:28
U.S. Data And Fed To Drive The Dollar In The Week Ahead http://t.co/l6QW0km3zl … $USO $TLT $FXE $UUP $FXY $EWG $UDN $FXB $EWQ $UUPT $FXS
Alysia Sarkisian
26 Apr 15 07:53:26
RT @SeekingAlpha: U.S. Data And Fed To Drive The Dollar In The Week Ahead http://t.co/Wr2FaGhN0l $USO $TLT $FXE $UUP $FXY $EWG $UDN $FXB $E…
Forex and Currencies
26 Apr 15 07:48:05
U.S. Data And Fed To Drive The Dollar In The Week Ahead http://t.co/6J7DaEy3wW $USO $TLT $FXE $UUP $FXY $EWG $UDN $FXB $EWQ $UUPT $FXS
Seeking Alpha
26 Apr 15 07:48:05
U.S. Data And Fed To Drive The Dollar In The Week Ahead http://t.co/Wr2FaGhN0l $USO $TLT $FXE $UUP $FXY $EWG $UDN $FXB $EWQ $UUPT $FXS
Investors Hangout
26 Apr 15 07:14:39
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10X Trading
26 Apr 15 07:02:55
Week In Review: Oil's 2015 Comeback Continues; Gold And Silver Sold Ahead Of Fed http://t.co/UzYHymvjci $USO $GLD $SLV
SmallCaps
26 Apr 15 06:41:20
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SmallCaps
26 Apr 15 05:55:41
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Fractal Traders
26 Apr 15 05:06:13
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Sharedata Futures
26 Apr 15 04:14:16
Weekend News, 25Apr: Narrow Balance Within Upper Qrtile Of Intermediate Balance. #WTI #Futures #Dataviz $USO https://t.co/6iEYHvDIAh
Adam Struzynski
26 Apr 15 04:09:32
$USO resistance at $20. closed below 8 dma on Friday but strong buying at close. MACD positive for April http://t.co/L0vHDmMZWZ
OM_freebies
26 Apr 15 04:08:06
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Teycir
26 Apr 15 03:49:46
$USO $CL_F is ripe for a correction in May, big spread between short commercials and long specs. http://t.co/MiayNXCRKe
LunaticTrader
26 Apr 15 03:34:03
World stock markets outlook for Week of April 27, 2015 http://t.co/cPIuAgbyWf $SPY $QQQ $GLD $TLT $USO
PetroPlata
26 Apr 15 01:12:40
RT @BlackDiamondRsc: America’s fracklog could be the next bump after the bust http://t.co/F8SbdLblZM #fracking #oil #WTI $OSX $HAL $USO @pe…
Crude Oil Inventory
26 Apr 15 01:04:30
RT @BlackDiamondRsc: America’s fracklog could be the next bump after the bust http://t.co/F8SbdLblZM #fracking #oil #WTI $OSX $HAL $USO @pe…
BlackDiamondResearch
26 Apr 15 00:54:48
America’s fracklog could be the next bump after the bust http://t.co/F8SbdLblZM #fracking #oil #WTI $OSX $HAL $USO @petroplata @riger_ca
SmallCaps
25 Apr 15 23:56:05
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Jason Olive
25 Apr 15 23:42:59
RT @SeekingAlpha: Week In Review: Oil's 2015 Comeback Continues; Gold And Silver Sold Ahead Of Fed http://t.co/leo9WcUUBk $GLD $SLV $USO $O…
SmallCaps
25 Apr 15 23:41:06
http://t.co/FnKjvTaom4 <-- Let me tell you a story about how knowledge is power in trading..$CL_F $USO $QM_F $XOIL
Investing Philosophy
25 Apr 15 23:40:10
RT @SeekingAlpha: Week In Review: Oil's 2015 Comeback Continues; Gold And Silver Sold Ahead Of Fed http://t.co/leo9WcUUBk $GLD $SLV $USO $O…
Alysia Sarkisian
25 Apr 15 23:37:56
RT @SeekingAlpha: Week In Review: Oil's 2015 Comeback Continues; Gold And Silver Sold Ahead Of Fed http://t.co/leo9WcUUBk $GLD $SLV $USO $O…
Víctor
25 Apr 15 23:37:45
RT @SeekingAlpha: Week In Review: Oil's 2015 Comeback Continues; Gold And Silver Sold Ahead Of Fed http://t.co/leo9WcUUBk $GLD $SLV $USO $O…
Seeking Alpha
25 Apr 15 23:35:48
Week In Review: Oil's 2015 Comeback Continues; Gold And Silver Sold Ahead Of Fed http://t.co/leo9WcUUBk $GLD $SLV $USO $OIL $IAU $UCO
				
				
By  +Follow October 2, 2013 9:02AM
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