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Oil -4% to five-month low; energy shares slump

Published 05/04/2017, 12:39 PM
© Reuters.  Oil -4% to five-month low; energy shares slump
US500
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CBKG
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SCO
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UCO
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IEO
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UHN
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DTO
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PXJ
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XOP
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XLE
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IYE
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OIH
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SZOXF
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ERX
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ERY
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DIG
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BNO
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OILold
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OIL
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DBO
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USL
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USO
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DNO
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OLO_old
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UGA
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FXN
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PXE
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DDG
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DUG
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RSPG
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VDE
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FENY
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GUSH
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DRIP
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BGR
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FIF
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NDP
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  • At $45.88 per barrel, WTI crude is at a level not seen since late November, and before that, early August. It's also wiped out most of the gains seen since OPEC came to the rescue a year ago with plans for production cuts.
  • OPEC has delivered, but production continues to grow outside of that once all-powerful cartel.
  • Commerzbank (DE:CBKG)'s Eugen Weinburg: "At some point, the market should recognize OPEC isn't the most important player in the market any more. That is non-OPEC, and, above all, U.S. shale."
  • The S&P 500 is barely in the red, but the Energy Select SPDR (NYSEARCA:XLE) is off 2%, with the Oil & Gas Exploration SPDR (NYSEARCA:XOP) down 4.2%.
  • ETFs: USO, OIL, XLE, UCO, VDE, ERX, OIH, SCO, XOP, BNO, DBO, ERY, DIG, DTO, UGA, USL, DUG, BGR, IYE, IEO, FENY, DNO, PXE, FIF, OLO, PXJ, UHN, RYE, SZO, NDP, GUSH, DRIP, DDG, FXN, OLEM
  • Now read: Valuation Dashboard: Energy And Materials - Update


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