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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
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 $…
TheOptionDon
22 Oct 14 15:55:06
"@TraderRL23: An important comparison chart I look at through out the day. Crude oil is speaking? $USO $IWM $SPY http://t.co/NUqk0wU1z2"
Robert Lesnicki
22 Oct 14 15:52:47
An important comparison chart I look at through out the day. Crude oil is speaking? $USO $IWM $SPY http://t.co/Z8tfT1fmYA
Jeff Quiggle
22 Oct 14 15:32:19
via @DividendMaster Saudis want $70 oil because it kills their MidEast enemies as well as fracking in USA -Gundlach $BNO $USO $XOP
Jeff Quiggle
22 Oct 14 15:25:11
$MACRO > $TLT $GLD $QQQ $IWM $FXI $JNK $SPY $EEM $FEZ $USO Yesterday > $TLT $GLD $JNK $FXI $IWM $QQQ $SPY $EEM $FEZ $USO
NQ Fractalerts
22 Oct 14 15:08:17
New $USO alerts have recently been posted. Check them out now. http://t.co/jsGDYQyaHU
Michael Davey
22 Oct 14 15:03:57
"@Spyder_Crusher: Blog post -- Market Indices Reverse, Oil Still Sticky -- $SPY $IWM $QQQ $USO $CL_F http://t.co/SYwNuRKx59"
Rotten Al
22 Oct 14 14:50:51
Never heard so much bellyaching about oil going lower. LET IT FALL. Long term it's good for the economy. $USO $SPY
EFT_Fractalerts
22 Oct 14 14:33:15
Confidently trade $USO Crude http://t.co/RtWeNQwGns
charts not opinions
22 Oct 14 14:30:11
@CMIDavid @BKBrianKelly nobody taking about it but 75% chance repubs win in November,they very $uso $xle export and $kol friendly
Tweed
22 Oct 14 14:09:28
RT @361Capital: Thorns in the Market Today: $IWM $USO $XLE $FEZ $BA $BIIB $NTRS $DFS $VMW $ECA $TUP $XRX http://t.co/5RJ7Gz4onC
361 Capital
22 Oct 14 14:08:14
Thorns in the Market Today: $IWM $USO $XLE $FEZ $BA $BIIB $NTRS $DFS $VMW $ECA $TUP $XRX http://t.co/5RJ7Gz4onC
Stockaholics
22 Oct 14 13:55:03
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $USO $EWP $CORN
Mike Mustafoglu
22 Oct 14 13:45:46
Oil resumes slide, falling $2 after second big U.S. stock build http://t.co/RcQAIzbTci via @YahooFinance $USO
Greg Harmon, CMT
22 Oct 14 13:33:03
$USO $CL_F Dead Cat Bounce, back at lows, 77 support, resistance 81/84 http://t.co/uZRTCAU6eC
DWDyck
22 Oct 14 13:22:58
@canuck2usa yep, and $MS & $DB significant turn down today too; $USO & transports ($IYT) leading down
Shaun
22 Oct 14 12:59:39
Right on time :-) short ur oil stocks. Trend looks ready for more. 80$ break hope you caught tweet few weeks back. Killing it on $USO $CL_F
Fractal Index
22 Oct 14 12:53:11
What is the $USO going to do next? Get real time alerts and analysis at http://t.co/szLYZo688c
				
				
By  +Follow October 2, 2013 9:02AM
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