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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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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.




