|Day's range||68.56 - 69.56|
The correlation coefficient between Halliburton’s (HAL) stock price and the crude oil price from April 16, 2017, to April 16, 2018, was 0.56, which indicates a healthy positive relationship between Halliburton stock and crude oil prices.
On April 18, 2018, natural gas May futures were unchanged and closed at $2.739 per MMBtu (million British thermal units). On April 19, 2018, the EIA’s natural gas inventory report will likely be important for natural gas prices.
On April 11–18, 2018, our list of oil-weighted stocks rose 8.8%. US crude oil June futures rose 2.6% during this period. In the seven calendar days to April 18, the oil-weighted stocks with the largest gains were: Oasis Petroleum (OAS) rose 17.6%. WPX Energy (WPX) rose 13.6%. California Resources (CRC) rose 13.1%.
On April 18, 2018, US crude oil June futures rose 2.9% and closed at $68.47 per barrel—the highest closing level for US crude oil active futures since December 2014.
May 2018 WTI crude oil futures contracts rose 0.9% from the previous settlement and were trading at $67.13 per barrel at 2:25 AM EST on April 18, 2018.
Hedge funds’ net long position in WTI crude oil futures and options contracts trading in NYMEX and ICE decreased by 3,275 to 441,634 on April 3–10, 2018. The net long positions fell for the second straight week.
The API released its gasoline and distillate inventory data on April 17, 2018. The API reported that US gasoline inventories decreased by 2.4 MMbbls (million barrels) on April 6–13, 2018. Analysts estimate that US gasoline inventories could have declined by ~0.2 MMbbls during the same period.
Natural gas inventories declined by 19 Bcf (billion cubic feet) to 1,335 Bcf in the week ending April 6, 2018, according to the EIA’s (U.S. Energy Information Administration) report announced on April 12, 2018. The fall in the EIA’s data was eight Bcf more than the market’s expected fall. On April 12, 2018, natural gas May futures rose 0.4%.
Wall Street analysts expect Encana’s (ECA) OCF (operating cash flow) to be ~$436 million in 1Q18, ~311% higher than its OCF of ~$106 million in 1Q17 and~18% higher than its OCF of ~$369 million in 4Q17. Its OCF is expected to be higher due to higher production. Analysts expect ECA’s 1Q18 capital expenditure to be ~$453 million, meaning ECA’s 1Q18 free cash flow could be negative.
The oil price recovery has incentivized most oil companies to fire up the rigs, but only the best prepared will stand out in the next oil boom
Record shale gas production in the U.S. is not just beneficial for consumers, it also created a perfect environment for the petrochemical industry
Permian Basin oil production is booming, but the growth rate is being threatened by rapidly growing volumes of associated natural gas
Whiting Petroleum (WLL) stock has shown stellar performance since the beginning of this year, rising ~35% since the start of 2018. On a year-over-year basis, the stock has risen ~13%.
Whiting Petroleum’s (WLL) production guidance for 1Q18 is 126.1 Mboe/d (million barrels of oil equivalent per day), compared to production of ~117 Mboe/d in 1Q17 and 128.1 in 4Q17. The year-over-year production growth in 4Q17 was mainly due to increased DJ Basin volumes. Production in the DJ Basin in 4Q17 had averaged 20.62 Mboe/d, compared to 9.2 Mboe/d in 4Q16.
Oil futures climbed Wednesday, settling at their highest level in nearly 3 1/2 years, on the back of an unexpected decline in weekly U.S. crude inventories and expectations that major oil producers will ...
Previously in this series, we discussed that most of the crude tanker stocks rose in the week ended April 13, 2018. VLCC (very large crude carrier) rates dropped below $10,000, while Suezmax rates dropped below $5,000. In this part of the series, we’ll see how bunker fuel prices fared in week 15.
Oil edged higher after an industry report showed U.S. crude stockpiles and supplies at the nation's largest storage hub both declined. Futures in New York climbed from the settlement Tuesday after the American Petroleum Institute was said to have reported U.S. crude inventories tumbled 1.05 million barrels last week. Supplies at the Cushing, Okla., hub decreased for the first time...
Just as China’s oil imports jumped to the second highest level on record, Saudi Arabia raised the price of its flagship crude, jeopardizing its Asian market share
The American Petroleum Institute reported Tuesday that U.S. crude supplies fell by roughly 1 million barrels for the week ended April 13, according to sources. The API data also showed a decline of nearly ...
As we have seen in the previous part of this series, Southwestern Energy’s (SWN) stock rose more than 5% last week. Last week, Southwestern Energy’s stock had a positive correlation of ~3% with natural gas.