BeingReal
4年前
I don't see much activity here, no news is good news. Looking for opinions. Some are saying we are nearing the top. I'm thinking we are just getting started as far as the country re-opening. Energy demand/usage is going to go way up compared to prev 12 months, planes, trucks/cars, manufacturing. Add to that the oil cutbacks by the new Admin and Saudi holding the line, tensions in the Middle East. Well, leave out the middle east, it's the wild card, but with everything else, what do you think?
ITMS
5年前
Energy Stocks Pop, But The Trend Is Still Down, Here’s The Trade $XLE
This morning, all of the leading energy stocks are trading higher after an attack on an oil field in Saudi Arabia. Most leading energy stocks such as Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), ConocoPhillips (NYSE:COP), BP Plc (NYSE:BP) and others are all trading sharply higher today on the back of this news. While crude oil and most energy stocks are strong today it should be known that the longer term trend is still down.
In fact, the Energy Select SPDR Fund (NYSEARCA:XLE) peaked in June 2014 at $101.52 a share. Since that high pivot, the popular ETF has been making lower highs on the charts. It is now trading at $62.66 a share. The next major resistance area for the XLF will be around the $68.00 level. That level is where the 50 and 200-week moving averages are currently at on the chart. There is also a pivot top resistance level in place from late April 2019. Traders should watch this key resistance level for a potential short trade or put option opportunity.
Nick Santiago
InTheMoneyStocks
ITMS
7年前
Why I Alerted Investors To Buying Puts On The $XLE (Oil Stocks)
The Energy Select Sector SPDR (ETF)(NYSEARCA:XLE) is a strong short in my opinion. This comes from pure technical analysis. First, the $XLE hit the daily 200 moving average, after surging since mid-August from under $62.00 to a high today of $68.90. This is a monster move in a very short time frame. Next, oil is trading in the upper range around $52.00. Just weeks ago it was near $45.00 at the low end of the range. This range has been active for most of 2017 and continues to hold. Next, the $XLE is pulling back off the daily 200 moving average forming a topping tail. Topping tails are great reversal signals. Off these factors, I alerted members to buy puts on the $XLE. I expect the price of the $XLE to fall to $66.00 - $66.50.
Gareth Soloway
InTheMoneyStocks
eFinanceMarkets
7年前
$XLE Crude oil shoots higher on signs of tightening supply
Crude oil futures enjoy solid gains in today's trade, supported by the biggest-ever weekly drop in U.S. gasoline inventories and signs that market supply and demand are coming back into balance.
U.S. crude for October delivery currently +1.6% at $49/bbl in New York, with the global Brent benchmark +1.2% to $54.92, near a five-month high.
The U.S. Energy Information Administration reported that gasoline stockpiles fell by 8.4M barrels in the week ended Sept. 8, while stocks of distillates fell by 3.2M barrels, also exceeding analyst expectations; meanwhile, U.S. refineries ran at at only 78% of operable capacity, allowing commercial crude oil stocks to rise by 5.9M barrels to 468.2M.
Earlier today, the International Energy Agency said August global oil supplies fell for the first time in four months, while also upwardly revising its 2017 oil demand estimate to 1.6M bbl/day from its July estimate of 1.5M bbl/day.
eFinanceMarkets
7年前
Crude oil tumbles below $50, sinking energy stocks
Crude oil prices plunge as much as 5% after OPEC's decision to extend production cuts fell short of hopes for deeper or longer cuts; WTI -3.9% at $49.35/bbl and Brent -3.7% at $51.96/bbl, fall sharply lower after paring early losses throughout the morning.
"A nine-month extension of the output cuts is already baked into prices," says Olivier Jakob, energy markets analyst at Swiss consultancy Petromatrix, adding that "this shows there's not much more OPEC can do."
Shares of oil and gas companies are sharply lower, bucking the rally in the broader stock market, with 32 of 34 components of the SPDR Energy Select Sector ETF (XLE -1.4%) showing losses.
Among the biggest and most active losers: RIG -5.9%, CHK -4.5%, MRO -5.5%, WLL -7.4%, COP -3.5%.
The two XLE gainers are TSO +2.3%, KMI +0.6%.
eFinanceMarkets
8年前
Trump signs order to curb Obama climate change rules
Pres. Trump officially signs an executive order removing climate related regulations on the energy sector, as expected.
The order formally reviews Pres. Obama’s Clean Power Plan, which would have required utilities to cut power plant carbon emissions to 32% below 2005 levels by 2030, pulls back guidance on climate change and official estimates of the social cost of carbon, methane and nitrous oxide, and rescinds a temporary ban on new coal leases on federal lands.
eFinanceMarkets
8年前
Trump to sign clean power rollback order tomorrow, EPA's Pruitt says
The Trump administration will issue an executive order tomorrow that begins dismantling former Pres. Obama's Clean Power Plan that cut carbon dioxide emissions and discouraged coal-fired electricity, EPA chief Scott Pruitt said yesterday.
Pruitt told ABC's This Week that the order would be followed quickly by actions to "make sure that whatever steps we take in the future will be pro-growth, pro-environment but within the framework of the Clean Air Act.”
Obama's EPA set a goal of cutting carbon dioxide emissions by 32% below 2005 levels by 2030, and its Clean Power Plan dictated specific targets for states; the initiative has been in legal limbo since the U.S. Supreme Court stayed it in February 2016, but utilities have reduced coal-fired electricity and added natural gas and renewable power, partly to satisfy the Plan's looming requirements.
eFinanceMarkets
8年前
Slide in oil prices could deter lenders as banks review credit lines
The recent downturn in crude oil prices comes at an unfortunate time for oil companies with the next round of bank reassessments of credit lines set to start next month.
A drop below $45/bbl likely would result in credit line reductions, raising the potential for cuts that crippled drillers a year ago, says Haynes & Boone law partner Kraig Grahmann; between the end of 2015 and October, when credit lines were last reassessed, the average borrowing base for U.S. explorers fell 16%.
“The next month is going to be absolutely critical from an oil price standpoint," says Macquarie analyst Paul Grigel. “If you see prices retrench further, clearly the banks are going to have to re-evaluate."
Analysts say companies that focus on natural gas, where prices have fallen faster, as well as drillers without a major presence in the lucrative Permian Basin, could be more vulnerable to credit cuts.