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| Crude Oil Prices Hold above $52 per Barrel for the Second Day | |
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Crude Oil Market: US Production and Oil Rigs Uptick (Continued from Prior Part) Trading range
August WTI (West Texas Intermediate) crude oil futures trading in NYMEX held above $52 per barrel for the second day. Prices have been fluctuating between a narrow range of $52 and $54 per barrel for the past four days. Bottom fishing and improving demand estimates could push crude oil prices higher.
Key support and resistance
The current momentum could push oil prices higher. Lower crude oil prices and speculation of strong demand from China could support crude oil prices. The next resistance for WTI is seen at $55 per barrel. Prices hit this mark in July 2015. In contrast, long-term oversupply factors and record inventories could push WTI prices lower. The key support for crude oil prices is seen at $50 per barrel. Prices tested this level in April 2015.
The trading range suggests that prices could broadly fluctuate between $50 and $55 per barrel in the short term. The EIA (U.S. Energy Information Administration) estimates that WTI might average around $55.51 per barrel in 2015. WTI averaged $93.17 a barrel in 2014. The EIA also added that Brent crude oil will trade around $60.22 per barrel in 2015. Brent crude oil futures averaged $98.89 per barrel in 2014.
ETFs like the VelocityShares 3X Long Crude ETN (UWTI) are negatively impacted by lower crude oil prices. In contrast, lower crude oil prices benefit ETFs like the ProShares UltraShort Bloomberg Crude Oil (SCO).
Energy producers like Clayton (CWEI), Oasis Petroleum (OAS), and Halcon Resources (HK) are also impacted by falling WTI oil prices. They account for 4.69% of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP). These stocks have a crude oil production mix that’s greater than 38% of their total production.
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Clayton Williams Energy Inc.
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CODE : CWEI |
ISIN : US9694901011 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Clayton Williams Energy est une société d’exploration minière basée aux Etats-Unis D'Amerique. Clayton Williams Energy détient divers projets d'exploration en USA. Son principal projet en exploration est SOUTHERN LOUISIANA en USA. Clayton Williams Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,6 milliards US$ (2,4 milliards €). La valeur de son action a atteint son plus bas niveau récent le 22 novembre 2002 à 10,00 US$, et son plus haut niveau récent le 20 janvier 2017 à 146,85 US$. Clayton Williams Energy possède 17 630 000 actions en circulation. |