Fullgoal S&P Oil & Gas Exploration & Production Select Industry ETF(QDII)(513350.SH)

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Fullgoal S&P Oil & Gas Exploration & Production Select Industry ETF(QDII)
513350.SH
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BUZZ-Exxon hits record high, energy firms gain tracking crude prices

Exxon shares reached a record high, surpassing their October 2024 peak, as the S&P 500 Energy index rose 2.2% amid increasing crude prices. Brent crude futures climbed 3% to $65.77/barrel, while U.S. West Texas Intermediate crude increased by 2.9% to $61.28/barrel. The rise in prices is attributed to concerns over potential supply disruptions from Iran, overshadowing the prospect of increased supply from Venezuela. Other energy firms, including Chevron, EOG Resources, and Halliburton, also saw significant gains.

Reuters·
US
EOG
-2.46%
US
CVX
-0.65%
Reuters·
US
EOG
-2.46%
US
CVX
-0.65%

Coerente Capital Management Boosts Holdings in EOG Resources, Inc. $EOG

Coerente Capital Management increased its stake in EOG Resources, Inc. by 8.2% in Q3, now holding 135,849 shares valued at $15.23 million. Other institutional investors also adjusted their positions, with significant increases from Benjamin Edwards Inc. and SG Americas Securities LLC. EOG Resources reported Q3 earnings of $2.71 per share, exceeding estimates, and declared a quarterly dividend of $1.02 per share. The stock opened at $102.56, with a market cap of $55.65 billion and a PE ratio of 10.21.

Market Beat·
US
EOG
-2.46%
Market Beat·
US
EOG
-2.46%

BUZZ-US refiners gain as Wright says Washington aims to restart Venezuelan oil flows

Shares of U.S. refiners rose in premarket trading following Energy Secretary Chris Wright's announcement that the U.S. aims to restart Venezuelan oil flows. President Trump confirmed a deal for Venezuela to export up to $2 billion worth of crude to the U.S., involving 30 to 50 million barrels of sanctioned oil. Notable gains were seen in Phillips 66 (up 3%), Valero Energy (up 5%), and Marathon Petroleum (up 3%). Brent crude futures increased by 11 cents to $60.81 per barrel.

Reuters·
US
MPC
-1.93%
US
VLO
-1.03%
Reuters·
US
MPC
-1.93%
US
VLO
-1.03%

Why U.S. oil refiners could be the big winners in Venezuela - even if its actual reserves disappoint

U.S. oil refiners are poised to benefit from Venezuela's heavy crude oil, which requires complex processing that they are already equipped for. Despite uncertainties about Venezuela's actual oil reserves, U.S. refiners like Valero and Phillips 66 have optimized their facilities for heavy crude, potentially easing reliance on Canadian supplies. However, the profitability of processing Venezuelan oil depends on secure access to resources and the high costs associated with extracting and refining heavy crude. Current prices for heavy crude remain low, complicating the economic outlook for U.S. refiners.

Dow Jones·
US
VLO
-1.03%
Dow Jones·
US
VLO
-1.03%

ANALYSIS-Venezuelan oil would boost US refiners, hurt Canadian producers

A potential end to U.S. sanctions on Venezuelan oil could significantly benefit U.S. Gulf Coast refiners by lowering fuel production costs, as they could absorb up to 1 million barrels per day of Venezuelan crude. Conversely, Canadian oil producers may lose pricing power, and small Chinese refiners could face higher costs if Venezuelan oil is redirected to the U.S. The resumption of Venezuelan oil exports would likely pressure Canadian oil prices and impact the market dynamics for heavy crude.

Reuters·
US
MPC
-1.93%
Reuters·
US
MPC
-1.93%
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