Posts for Ticker ‘USO’

DOE Inventory Data Highlights Ongoing Refinery Woes (OIH, USO, UCO, VLO)

The Department of Energy has released some mixed data on weekly oil inventory data, and the take for refining is looking just as bad still or actually worse in February compared to the Q4-earnings period we have seen reports on over the last week.  We are watching the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF, and the Ultra DJ-AIG Crude Oil ProShares (NYSE: UCO) as the key oil and oil service ETFs on the news.  We are also watching Valero Energy Corp. (NYSE: VLO) drop in reaction.
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Posted on: February 3, 2010 – 11:04 am in Commodities, Oil & Gas, , , ,

Oil Rig Counts Still On The Rise (BHI, OIH, USO)

The rig counts are still mostly heading in the right direction, at least they are if you want to see a robust oil sector along with some oil price stability.  Baker Hughes Inc. (NYSE: BHI) has issued its weekly rig counting data, and the gains are interesting when you consider the recent price action of oil being off so much from recent highs.  We are watching the Oil Services HOLDRs (NYSE: OIH) and the United States Oil (NYSE: USO) as the two key ETFs on the news.
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Posted on: January 29, 2010 – 1:10 pm in Commodities, ETF, Oil & Gas, , ,

Oil Patch: Rig Counts Rise Despite Falling Oil (BHI, OIH, USO)

The rig counts are still heading in the right direction for stable oil and a steady flow of oil and gas supplies according to the Baker Hughes Inc. (NYSE: BHI) weekly rig counting data.  This is actually surprising considering how much oil has come off since its recent highs.  We are watching the Oil Services HOLDRs (NYSE: OIH) and the United States Oil (NYSE: USO) as the two key ETFs on the news.

U.S. Rig Count is up 34 from last week at 1282; down 233 year over year.
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Posted on: January 22, 2010 – 1:15 pm in Oil & Gas, , ,

Rig Counts Look OK, Sans-US (BHI, OIH, USO)

Baker Hughes Incorporated (NYSE: BHI) announced its weekly rig count data, but what is interesting is that the latest data shows a 2009-end with comparisons to a 2008-end.  If you saw the declines in the start of 2009, you might be relieved that the rig counts at the end of 2009 in some cases are almost on par with the levels seen at the end of 2008.  The drops in the US on a year-over-year basis were the largest standouts here.  The Oil Services HOLDRs (NYSE: OIH) and the United States Oil (NYSE: USO) are the two ETFs we are watching on the news.
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Posted on: January 8, 2010 – 12:14 pm in Commodities, ETF, Oil & Gas, , ,

Oil Inventory Gains Trump Weak Refining (OIH, USO, OIL, UCO)

The Department of Energy has just released its weekly oil inventory data, which was something to watch considering the move up in oil and the cold weather of late.  The data was far less bullish for oil prices than what was expected.  We are watching the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF, the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL), and the Ultra DJ-AIG Crude Oil ProShares (NYSE: UCO) as the key oil and oil service ETFs on the news.
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Posted on: January 6, 2010 – 10:42 am in Commodities, Oil & Gas, , , ,

Inventory & SPR Data Confuse Oil Bulls & Bears (OIH, USO, OIL, UCO)

There were two very interesting events in the crude oil markets today.  As with almost all Wednesday’s we got the weekly crude oil inventory data from the Department of Energy.  This data was mixed to slightly bullish for those who enjoy seeing oil prices rise.  But another notion may be the game changer…. The U.S. Strategic Petroleum Reserve is full!  Well, sort of.  The DOE noted before inventories this morning that the SPR has reached its current capacity of roughly 726.6 million barrels of crude oil.  That does not imply that the SPR cannot be grown further nor that SPR ’should not be grown’ further. On the news, we are watching the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF, the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL), and the Ultra DJ-AIG Crude Oil ProShares (NYSE: UCO) as the key oil and oil service ETFs on the news.

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Posted on: December 30, 2009 – 11:28 am in Commodities, ETF, Oil & Gas, , , ,

Crude Prices Headed North (OIH)(USO)(OIL)

Crude oil futures rose to their highest point in seven weeks this morning, trading above $79/barrel. Cold, snowy weather in the Northeast and the Midwest are the likely suspects for the increase because traders have always taken weather into account in their transactions. The markets are watching the crude related ETFs: the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) as the key oil and oil service ETFs. Read More »

Posted on: December 28, 2009 – 12:46 pm in ETF, Oil & Gas, , ,

DOE Inventory Pleases Energy Bulls (OIH, USO, OIL)

There is some mixed data from the Department of Energy on its weekly inventory data today, although the negatives here seem to outweigh the gains.  We are watching the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) as the key oil and oil service ETFs.  NYMEX WTI Crude is up at the highs of the session and trading up $2.21 at $72.90 at 10:37 AM EST.  So much for those sub-$70 prices from yesterday.
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Posted on: December 16, 2009 – 10:44 am in Commodities, ETF, Oil & Gas, , ,

Rig Counts Mixed On Oil Prices (OIH, USO, OIL)

The weekly rig count data from Baker Hughes Incorporated (NYSE: BHI) is out, and it seems that the corrective phase in the price of oil is starting to create mixed data in the rig counts.  There is always the notion that some changes may be seasonal (particularly in Canada) at this time of year, but we are looking at the key ETFs of Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) on this.
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Posted on: December 11, 2009 – 1:22 pm in Commodities, ETF, Oil & Gas, , ,

Mixed Oil Inventories; Refineries Return (OIH, DIG, USO, OIL)

The weekly oil inventory data from the Department of Energy is out with some very mixed data.   The headline data on crude may be a shocker, but the rest of the data is counteracting it somewhat.  We are watching the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) as the key ETFs on the news.   NYMEX WTI Crude is up $0.06 per barrel at $76.08 10:34 AM EST after the news, which is a far lower price than what has been seen into weekly inventory data in recent weeks.
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Posted on: December 9, 2009 – 10:47 am in Commodities, ETF, Oil & Gas, , , ,

Rig Counts Staying Positive (BHI, OIH, DIG, USO, OIL)

Baker Hughes Incorporated (NYSE: BHI) has just released its weekly rig counts.  It looks like we have another week of rig count growth on the three major counts, a positive development for those wanting more stable oil supply (and hopefully more stable oil prices)….  We are watching  the key ETFs of Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) on this.
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Posted on: December 4, 2009 – 1:23 pm in Commodities, ETF, Oil & Gas, , , , ,

Solid Oil Inventory Data, Mixed Metrics (OIH, DIG, USO, OIL)

The Department of Energy has just released its new weekly data on oil inventories. The headline data looks good for those wanting lower oil prices, but there is actually some very mixed data in the report.  The key ETFs that we are watching on the news are the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL).   NYMEX WTI Crude is up $0.06 per barrel at $76.08 10:34 AM EST after the news, which is a far lower price than what has been seen into weekly inventory data in recent weeks.
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Posted on: December 2, 2009 – 10:56 am in Commodities, ETF, Oil & Gas, , , ,

DOE Oil Inventory Heads the Right Way (OIH, DIG, USO, OIL)

The Department of Energy has just released this week’s oil inventories data.  While there are gains almost on all counts, this may not be enough.  The key ETFs that react to the news are the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL).   NYMEX WTI Crude is up $0.06 per barrel at $76.08 10:34 AM EST after the news, which is a far lower price than what has been seen into weekly inventory data in recent weeks.
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Posted on: November 25, 2009 – 10:43 am in Commodities, ETF, Oil & Gas, , , ,

Rig Count Growth Mostly Positive (BHI, OIH, DIG, USO, OIL)

Baker Hughes, Inc. (NYSE: BHI) has released its data on the weekly rig counts and most are up. We are watching the key ETF products react via the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.  It will be interesting to see if this continues after the recent pause in oil.

Posted on: November 20, 2009 – 1:11 pm in Commodities, ETF, Oil & Gas, , , , ,

Oil Inventories Heading Wrong Way (OIH, DIG, USO, OIL)

The Department of Energy has just released its weekly oil inventories data and those wanting stable prices from oil data may be disappointed.  We are watching the key ETFs around the news via the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) reactions based upon the supply data.  NYMEX WTI Crude is up $0.89 per barrel at $80.03 at 10:38 AM EST after the news.

Crude stockpiles fell by 887,000 barrels (to 336.789 million barrels) versus a Dow Jones target of -600,000.  Frankly, anything negative was going to be a disappointment for us.  And it only gets worse from there…
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Posted on: November 18, 2009 – 10:42 am in Commodities, ETF, Oil & Gas, , , ,

Exxon: Weak Dollar Adding $20 to Oil Prices (XOM, USO)

Money ImageThe weak dollar has definitely been a contributor to the rise in the price of gold.  And it is also partly responsible for some of the oil gains that took prices back over $80 per barrel before the recent pullback.  But Rex Tillerson, the CEO of Exxon Mobil Corp. (NYSE: XOM), has actually quantified this with an assigned dollar value to CNBC.  His take is that as much as $20.00 per barrel is tied to the weakness of the US Dollar.
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Posted on: November 13, 2009 – 7:53 am in Commodities, Oil & Gas, ,

Ida: The Hurricaneless Hurricane (OIH, USO, OIL, MUR, MRO, RDS, CVX, XOM)

IDA ImageOil and gas companies have closed or winding down many US Gulf operations ahead of a very late in the year Hurricane Ida.  The weekend reports had this one dissipating then the reports early this morning had this making landfall as a tropical storm with [a possibility of it being hurricane.  This morning Ida became a tropical storm again at the National Hurricane Center.  In order to not have to out-guess ahead of time which companies will be least or most impacted had this been a full hurricane at the time it met rigs and the coast, we looked at the Oil Services HOLDRs (NYSE: OIH), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) reactions based upon the supply data.  While the infrastructure is now not as likely to be hit as hard and while a tropical storm is far less of a threat than a hurricane, NYMEX WTI Crude is actually still up $1.78 at $79.21 as of 10:13 AM EST.
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Posted on: November 9, 2009 – 10:27 am in Commodities, Oil & Gas, , , , , , , ,

Oil Inventories Head Wrong Way, Again (OIH, DIG, USO, OIL)

Refinery ImageThe latest weekly inventories data from Department of Energy in crude and oil products is adding more support and adding fuel to a fire in the commodity rally today. It looks like we are back to larger draw-downs that expected. We are watching the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) reactions based upon the supply data.  NYMEX WTI Crude is now up $1.13 at $80.73 as of 10:36 AM EST.
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Posted on: November 4, 2009 – 10:47 am in Commodities, ETF, Oil & Gas, , , ,

Rig Counts Inching Back Up (BHI, OIH, DIG, USO, OIL)

oil-well-image11This week’s data from Baker Hughes, Inc. (NYSE: BHI) on the weekly rig counts looks better and less mixed than in other weeks despite the notion that all projects should be financially sound at current levels.  On the news, we are watching the key ETF products of the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) react to this news.  The overall figure is up, but barely.  Commodities players are mostly lower today, but more on the consumer data than on anything about rig counts.
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Posted on: October 30, 2009 – 2:06 pm in Commodities, ETF, Oil & Gas, , , , ,

DOE Oil Inventories Back Up (OIH, DIG, USO, OIL)

Refinery ImageWe have just seen this week’s latest Department of Energy weekly oil inventory data.  The new report is on the heels of a sudden rise in oil prices followed by an almost just as sudden drop in oil prices this week.  Fortunately for the consumer, there was a rise in the key inventory data we follow.  The question is if it is enough of a gain to keep oil as a commodity from attracting too much in new investment dollars.  We are watching the Oil Services HOLDRs (NYSE: OIH), the Ultra Oil & Gas ProShares (NYSE: DIG), the United States Oil (NYSE: USO) ETF and the iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) reactions based upon the supply data.  At 10:41 AM EST we have NYMEX WTI Crude down by $1.35 at $78.20 (down from the $79.75 level after inventory a week ago).

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Posted on: October 28, 2009 – 10:44 am in Commodities, ETF, Oil & Gas, , , ,