|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||11.19 - 11.36|
|52-week range||8.65 - 12.00|
|PE ratio (TTM)||N/A|
|Expense ratio (net)||0.32%|
US natural gas production rose by 0.3 Bcf (billion cubic feet) per day to 75.9 Bcf per day on November 9–15, 2017. Production rose 0.4% week-over-week.
Crude oil prices fell on Wednesday and are continuing to drop after government data showed a larger-than-expected rise in crude oil and gasoline inventory. Brent crude futures fell 0.68% to $61 and West Texas Intermediate is down 0.42% to around $55. OPEC-led production cuts have helped reduce the OECD's oil storage surplus and are now back to normal levels.
The EIA estimates that US crude oil production rose by 25,000 bpd (barrels per day) or 0.3% to 9,645,000 bpd on November 3–10, 2017.
Whiting Petroleum (WLL) stock fell 1.1% in the week ended November 10. On November 8, Whiting announced a one-for-four reverse stock split.
So far this week (starting November 13, 2017), natural gas (UNG) (BOIL) prices are leading a decline in energy commodities.
The IEA downgraded the global crude oil demand estimates for 2017 and 2018, which weighed on oil (USO) (USL) prices on November 14, 2017.
The EIA estimates that Cushing’s crude oil inventories rose by ~720,000 barrels to 64.5 MMbbls (million barrels) on October 27–November 3, 2017.
Higher crude oil demand, easing supplies and inventories, improving global crude oil demand, and economic growth could support oil prices.
The latest report was released on November 3 and indicated that the goods and services deficit was $43.5 billion in September, or $0.7 billion higher than in August.
On November 9, US crude oil active futures rose 0.6% and closed at $57.17 per barrel. Geopolitical concerns in the Middle East could have helped crude oil.
One way to play the possibility that petroleum powers toward $90 would be to buy March-dated futures contracts for light sweet crude on the CME. Alternatively, try the United States Oil (USO) exchange-traded fund, which tracks near-term futures prices for crude. Here are the potential catalysts for a price surge: Saudi Shakeup: Last weekend’s leadership changes in Saudi Arabia have consolidated power in the hands of Crown Prince Mohammed bin Salman and his father, King Salman.
Crude oil spot prices have risen sharply as tensions in Saudi Arabia, Iran, Venezuela, Iraq and Nigeria escalated. Barron's resident economist Gene Epstein thinks the rally will eventually fade. The meeting is unlikely to dispel the recent rise in tensions between Saudi and Iran, yet the formalization of an exit strategy remains key to 2018 oil balances.
On November 8, 2017, natural gas December futures rose 0.7% and closed at $3.18 per MMBtu. The bullish weather forecast report could be helping natural gas prices rise.
December US crude oil (USO) (UCO) (DTO) futures contracts fell 0.07% to $56.77 per barrel in electronic exchange at 12:55 AM EST on November 9, 2017.
On November 7, 2017, US crude oil (USO) (DBO) December futures fell 0.3% and settled at $57.20 per barrel. That was their second-highest closing price since July 1, 2015.
The EIA estimates that US crude oil production averaged 9.3 MMbpd in October 2017—down by 90,000 bpd (barrels per day) from the level in September.
Whiting Petroleum continued to rise last week and closed the week ending November 6, 2017, 20.2% higher compared to the previous week ending October 30.
On November 6, 2017, US crude oil December futures rose 3.1% and closed at $57.35 per barrel—the highest closing price for active US crude oil futures since July 1, 2015.
December WTI crude oil futures contracts fell 0.05% and were trading at $57.32 per barrel in electronic exchange at 1:10 AM EST on November 7, 2017.