“As the market moves up, it still has to look over its shoulder with somewhat of a jaundiced eye at the overhang that hasn’t gone away,” Andy Lebow, senior partner at Commodity Research Group, told the WSJ. “The market can pull back further from these levels.”
The Energy Information Administration will reveal U.S. petroleum inventories on Wednesday.
Investors interested in tracking crude oil price movements have a number of exchange traded fund and exchange traded note options to choose from.
Crude oil ETPs:
- United States Oil Fund (NYSEArca: USO)
- iPath Crude Oil Futures ETN (NYSEArca: OIL)
- PowerShares DB Oil Fund (NYSEArca: DBO)
- United States Brent Oil Fund (NYSEArca: BNO)
- United States 12 Month Oil Fund (NYSEArca: USL)
- PowerShares DB Energy Fund (NYSEArca: DBE)
- Credit Suisse X-Links WTI Crude Oil Index ETN (NYSEArca: OIIL)
- UBS ETRACS S&P GSCI Crude Oil Total Return Index ETN (NYSEArca: OILX)
- iPath Pure Beta Crude Oil ETN (NYSEArca: OLEM)
- PowerShares DB Crude Oil Long ETN (NYSEArca: OLO)
- ELEMENTS RICI Energy ETN (NYSEArca: RJN)
- E-TRACS UBS Bloomberg CMCI Energy (UBN)
- iPath Bloomberg Energy Subindex Total Return ETN (NYSEArca: JJE)
- iPath Pure Beta Energy ETN (NYSEArca: ONG)
Energy-related ETPs:
- United States Natural Gas Fund (NYSEArca: UNG)
- United States Gasoline Fund (NYSEArca: UGA)
- iPath Bloomberg Natural Gas Subindex Total Return ETN (NYSEArca: GAZ)
- United States 12 Month Natural Gas Fund (NYSEArca: UNL)
- United States Heating Oil Fund (NYSEArca: UHN)
- WisdomTree Coal Fund (NYSEArca: TONS)
- iPath Seasonal Natural Gas ETN (NYSEArca: DCNG)
Leveraged/inverse ETPs:
- VelocityShares 3x Long Crude ETN (NYSEArca: UWTI)
- ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO)
- VelocityShares 3x Inverse Crude (NYSEArca: DWTI)
- VelocityShares 3x Long Natural Gas ETN (NYSEArca: UGAZ)
- ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO)
- VelocityShares Daily 3x Inverse Natural Gas ETN (NYSEArca: DGAZ)
- DB Crude Oil Double Short ETN (NYSEArca: DTO)
- ProShares Ultra Bloomberg Natural Gas (NYSEArca: BOIL)
- United States Short Oil (NYSEArca: DNO)
- ProShares UltraShort Bloomberg Natural Gas (NYSEArca: KOLD)
- DB Crude Oil Short ETN (NYSEArca: SZO)