12.160High11.900Low205.04KVolume12.070Open12.120Pre Close2.47MTurnover0.44%Turnover Ratio--P/E (Static)46.61MShares26.76152wk High--P/B563.97MFloat Cap10.91352wk Low--Dividend TTM46.61MShs Float26.761Historical High--Div YieldTTM2.15%Amplitude0.452Historical Low12.044Avg Price1Lot Size
Bad advice from a friend
Supply crunch pushes crude oil to record ninth straight weekly gain
WTI crude for December delivery closed +1.5% to settle at $83.76/bbl, and December Brent crude finished +1.1% at $85.53/bbl.
The front-month WTI contract jumped 2.6% for the week, while Brent posted a 0.9% weekly increase, but it was the ninth straight winning week for both benchmarks.
ETFs: USO, UCO, SCO, BNO, DBO, USL
Oil and gas sector stocks $Energy Select Sector SPDR Fund(XLE.US)$ also rose again for the week, +0.9%.
Global oil inventory levels "remain tight as demand growth remains firm but production growth lags," IHS Markit analyst Marshall Steeves says.
The oil market is "correctly pricing very tight conditions, and conditions that will get tighter," BNP Paribas' David Martin says. "We're going to draw stocks this quarter and next."
Stockpiles at the Cushing storage hub, the biggest such facility in the U.S., are draining to critically low levels that could push crude prices even higher.
The week's five biggest gainers in energy and natural resources: $Permian Basin Royalty Trust(PBT.US)$ +35.7%, $Natural Resource(NRP.US)$ +22.2%, $CN Energy(CNEY.US)$ +21.9%, $San Juan Basin Royalty Trust(SJT.US)$ +20.3%, $Berry Corp (bry)(BRY.US)$ +19.3%.
The week's five biggest decliners in energy and natural resources: $Altus Midstream Co(ALTM.US)$ -22.7%, $DNOW Inc(DNOW.US)$ -16.6%, $NACCO Industries(NC.US)$ -15.9%, $Kaiser Aluminum(KALU.US)$ -14.8%, $HighPeak Energy(HPK.US)$ -14.5%.
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