Oil Prices – Was that Bad News Actually Good?

When the Energy Information Administration (EIA) Weekly Petroleum Status Report was published last week, I wondered if good news was mistaken for bad. Just a week after a large crude oil draw had been posted, the latest data showed a build in crude oil storage even despite the ongoing issues in Alberta. Oil prices immediately declined after the release, but did investors miss an important point? See the whole story at Oil Prices - Was Good News Mistaken for Bad?

Energy Relative Shares	05-23-16 Close
SPDR S&P 500 (NYSE: SPY)	-0.1%
United States Oil (NYSE: USO)	-0.8%
iPath S&P GSCI Crude Oil (NYSE: OIL)	-0.5%
United States Natural Gas (NYSE: UNG)	-0.2%
Energy Select Sector SPDR (NYSE: XLE)	-0.2%
SPDR S&P Oil & Gas E&P (NYSE: XOP)	-0.2%
Market Vectors Oil Services (NYSE: OIH)	-0.4%
Exxon Mobil (NYSE: XOM)	-0.2%
Chevron (NYSE: CVX)	-0.4%
B.P. (NYSE: BP)	-1.5%
TOTAL S.A. (NYSE: TOT)	-1.1%
ConocoPhillips (NYSE: COP)	+0.0%
Phillips 66 (NYSE: PSX)	-0.1%
Occidental Petroleum (NYSE: OXY)	-0.1%
Schlumberger (NYSE: SLB)	+0.1%
Weatherford Int’l (NYSE: WFT)	+2.0%
Halliburton (NYSE: HAL)	+1.3%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article interests energy investors including Exxon Mobil (NYSE: XOM), BP (NYSE: BP), PetroChina (NYSE: PTR), Petrobras (NYSE: PZE), Royal Dutch Shell (OTC: RYDAF.PK), Total (NYSE: TOT), Chevron (NYSE: CVX), Repsol (OTC: REPYY.PK), ConocoPhillips (NYSE: COP), Eni SpA (NYSE: E), Sasol (NYSE: SSL), Encana (NYSE: ECA), Suncor (NYSE: SU), Imperial Oil (AMEX: IMO), Statoil (NYSE: STO), Cenovus (NYSE: CVE), Transocean (NYSE: RIG), Penn West Petroleum (NYSE: PWE), Continental Resources (NYSE: CLR), Noble (NYSE: NE), Concho (NYSE: CXO), Diamond Offshore (NYSE: DO), Ensco (NYSE: ESV), Whiting Petroleum (NYSE: WLL), Nabors (NYSE: NBR), Pride International (NYSE: PDE), Helmerich & Payne (NYSE: HP), QEP Resources (NYSE: QEP), Enerplus (NYSE: ERF), Rowan (NYSE: RDC), Cobalt (NYSE: CIE), Patterson UTI (Nasdaq: PTEN), SandRidge (NYSE: SD), Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL), National Oilwell Varco (NYSE: NOV), Baker Hughes (NYSE: BHI), Weatherford International (NYSE: WFT), Cameron (NYSE: CAM), FMC Tech (NYSE: FTI), Oil States International (NYSE: OIS), Superior Energy (NYSE: SPN), Carbo Ceramics (NYSE: CRR), Helix Energy (NYSE: HLX), Pioneer (NYSE: PXD), CNOOC (NYSE: CEO), China Petroleum and Chemical (NYSE: SNP), Ecopetrol (NYSE: EC), Canadian Natural Resources (NYSE: CNQ), Apache (NYSE: APA), Anadarko (NYSE: APC), Devon (NYSE: DVN), EOG (NYSE: EOG), Chesapeake (NYSE: CHK).