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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
Stevie B
1 Sep 14 11:22:17
Crude Oil is stalking $96bbl http://t.co/vpog8N8Dfe $USO $UCO $SPY $QQQ $XLE $OIH #STOCKS
leahanne
1 Sep 14 11:10:48
$APC Anadarko Petroleum Corp (APC) 112.69 +1.61 (+1.45%) $HD $GLUU $USO http://t.co/nF23rVyyFQ
A COMPLACENT TRADER
1 Sep 14 11:09:54
“@Marycfalcon: Speculators Turn More Bullish on Oil Before Labor Day http://t.co/K9MHXA0yzT” RT $USO likely bullish indicator for $SPY
Investors Hangout
1 Sep 14 10:57:50
jim50: $USO Low Date=Aug-29-2014 Open=35.6 High=35.83 http://t.co/PvECgN5pnw
Investors Hangout
1 Sep 14 10:57:43
jim50: $USO Low Date=Aug-29-2014 Open=35.6 High=35.83 http://t.co/ARpXbZxB26
Market Monitor
1 Sep 14 10:52:41
$USO: Commodity Spotlight: Besieged CRB Index At Key Level http://t.co/zQxFKCpmaF http://t.co/cf4O6kxwo5
jim50
1 Sep 14 10:32:37
$USO Low Date=Aug-29-2014 Open=35.6 High=35.83 Low=35.48 Close=35.76 Volume=3182100 http://t.co/61q4ueAzoR
Jake13
1 Sep 14 10:31:10
$CELG Buy or Sell? Click here to find out if $CELG is a buy hold or sell. Watching these stocks. $PCLN $USO $R http://t.co/y5W8iYMR97
Learnstocks101
1 Sep 14 10:05:49
$USO still looking 36.5 target
Business News Watch
1 Sep 14 09:52:38
$USO: Trade Alert! United States Oil Fund LP (ETF)(NYSEARCA:USO) http://t.co/ayRgPWz87U http://t.co/lj77bkphpw
Cristobal Barberis
1 Sep 14 09:10:44
Why The Energy Markets May Be At A Turning Point $USO http://t.co/34M3mM9rMd
Antonio NaVi
1 Sep 14 09:04:42
para esta semana hay varios #ETFs interesantes como $SLV y $VXX para largo, $USO se mantiene y posibles cortos en $DIA y $JNK #FTR1
TV_Trading Ideas
1 Sep 14 09:02:13
Ascending Triangle Forming $USO http://t.co/09nzYrdUMO
Chasing Stars
1 Sep 14 08:34:52
$KNDI 52Wk High http://t.co/KeLfkOwPzH Also See: $FITX $USO $ATHM $INTC ~
FinanFlow
1 Sep 14 08:27:18
Cerramos short en petróleo WTI Cerramos en $95.65 (+14 pips) // short closed $95.65 (+14 pips) $CL_F $USO $$ http://t.co/cWOxWUrCTo
TraderSmarts
1 Sep 14 08:21:08
O/N longs closed Friday AM. This was the only other oil trade we took Friday $CL_F $USO $STUDY http://t.co/aUhHYb8rye
TraderSmarts
1 Sep 14 08:19:54
Friday Aug 29, 2014 $CL_F TS TradePlan Oil Chart Review $USO $STUDY http://t.co/3ZAOPKMY1n
Biz Headlines
1 Sep 14 07:52:37
$USO: SPY Trends and Influencers August 23, 2014 http://t.co/9n6cJLe51e http://t.co/SLluC6KvVM
Investors Hangout
1 Sep 14 07:45:30
danrocks: $UPZS Alert $HL $FCGD $SNCR $CIG $USO http://t.co/CVxH488qQ9
Investors Hangout
1 Sep 14 07:45:19
danrocks: $UPZS Alert $HL $FCGD $SNCR $CIG $USO http://t.co/rLVeefSOjy
Extreme Stocks
1 Sep 14 07:39:08
danrocks: $UPZS Alert $HL $FCGD $SNCR $CIG $USO http://t.co/cSkatXmGK5
danrocks
1 Sep 14 07:29:18
$UPZS Alert $HL $FCGD $SNCR $CIG $USO http://t.co/m8lBE6SVUL
Investors Hangout
1 Sep 14 07:15:38
$INTC News http://t.co/PDdTznCV9O Also See: $USO $XLI $AIG $UGLD ~
Fractal Traders
1 Sep 14 07:03:47
New $USO alerts have recently been posted. Check them out now. http://t.co/vYqe6JlO7N
FinanFlow
1 Sep 14 06:45:04
update $EURUSD $ES_F $CL_F http://t.co/cWOxWUrCTo $SPY $FXE $USO $$
ES_fAlerts
1 Sep 14 05:49:45
What is the $USO going to do next? Get real time alerts and analysis at http://t.co/vc6mpeF1HM
Nest Egg
1 Sep 14 04:33:48
RT @FA_Hedge: New $USO alerts have recently been posted. Check them out now. http://t.co/lMTmHGis51
Financial News
1 Sep 14 03:52:45
$USO: Crude Oil, Gold Rally: US Says Will Launch Airstrike On Iraq http://t.co/bxISz21NnC http://t.co/aqMqR8siXH
Investors Hangout
1 Sep 14 03:42:09
$FCX Tick http://t.co/C8PJqdZViM Also See: $QLD $SLXP $USO $FITX ~
Fractal Dealing
1 Sep 14 03:37:36
What is the $USO going to do next? Get real time alerts and analysis at http://t.co/6bnrN849DG
Ashley Rodriguez
1 Sep 14 03:22:57
RT @philstockworld: Monday Market Mayhem - Bombs Fly, Buyers Buy $SPY $FXI $EPI $USO $GTAT $TASR #China #Hedging -- http://t.co/rKGIxEaefp
Chasing Stars
1 Sep 14 02:55:53
$EWQ Prev Close http://t.co/G935ZCaDFI Also See: $EWQ $RIG $USO $IWEB ~
NQ Fractalerts
1 Sep 14 01:46:53
What is the $USO going to do next? Get real time alerts and analysis at http://t.co/jsGDYQyaHU
ES_fAlerts
1 Sep 14 01:15:06
Tell us what you think about this weeks $USO alert. How are you trading it? http://t.co/vc6mpeF1HM
Fractal Trading
1 Sep 14 00:56:15
Tell us what you think about this weeks $USO alert. How are you trading it? http://t.co/L31IijBE0r
Sarah Lance
1 Sep 14 00:08:32
RT @philstockworld: Monday Market Mayhem - Bombs Fly, Buyers Buy $SPY $FXI $EPI $USO $GTAT $TASR #China #Hedging -- http://t.co/rKGIxEaefp
Companies in News
31 Aug 14 23:52:40
$USO: SPY Trends and Influencers August 30, 2014 http://t.co/XyqDp4tbpk http://t.co/OyLyqxMdOL
EFT_Fractalerts
31 Aug 14 23:51:34
What is the $USO going to do next? Get real time alerts and analysis at http://t.co/RtWeNQwGns
Business News Watch
31 Aug 14 22:52:40
$USO: [video] Crude Oil, Natural Gas Prices to Remain Range Bound http://t.co/0FhCxCEwZM http://t.co/xz9HOTPBKX
Investors Hangout
31 Aug 14 22:30:10
$C Message Board Posts http://t.co/GP2lHzeKjt Also See: $DDM $DGLY $DM.TO $USO ~
Biz Headlines
31 Aug 14 21:52:41
$USO: SPY Trends and Influencers August 23, 2014 http://t.co/9n6cJLe51e http://t.co/BJu8Z7WsxN
Fractal Alerts
31 Aug 14 21:36:03
Confidently trade $USO Crude http://t.co/9jf5gxvzAI
FinanFlow
31 Aug 14 21:34:25
New trade #3/Nuevo trade #3 short $CL_F $95.79, stop $95.90. venta en corto $CL_F $95.79, stop $95.90 $USO $OIH $$ http://t.co/cWOxWUrCTo
S&P Fractal
31 Aug 14 21:26:09
Confidently trade $USO Crude http://t.co/shrva0Zk4V
Stevie B
31 Aug 14 21:21:48
BBC News - Ukraine crisis: US senators urge arms 'to fight Russia' http://t.co/8pjJttTGk2 $USO $UCO $SPY $XLE $OIH $QQQ #STOCKS
Fractals
31 Aug 14 21:16:38
Tell us what you think about this weeks $USO alert. How are you trading it? http://t.co/I7r2ujezYg
Chasing Stars
31 Aug 14 20:47:22
$AUO Summary http://t.co/0SrSBEszRr Also See: $AEM $USO $RSX $MDY ~
Tommy Soistman
31 Aug 14 20:39:41
RT @philstockworld: Monday Market Mayhem - Bombs Fly, Buyers Buy $SPY $FXI $EPI $USO $GTAT $TASR #China #Hedging -- http://t.co/rKGIxEaefp
willehhhh
31 Aug 14 20:24:22
RT @philstockworld: Monday Market Mayhem - Bombs Fly, Buyers Buy $SPY $FXI $EPI $USO $GTAT $TASR #China #Hedging -- http://t.co/rKGIxEaefp
PolgarStocks
31 Aug 14 20:16:34
$AMBA Stock Message Board http://t.co/4sCTXnJlZa Also See: $KMP $USO $IBB $SMH ~
				
				
By  +Follow October 2, 2013 9:02AM
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