Oil futures plunge to $115.20, exchange traded energy funds drop, refiners rally, oil producers fall

Petroleum speculators took profits, stopped buying and went short Friday, sending oil futures down to $115.20. Latest petroleum futures prices are here.

Energy exchange traded funds (ETFs) such as XLE and USO fell with oil as did some oil transportation companies such as ATW and IO. Energy stocks such as XOM, COP and VLO rallied because refiners will benefit from lower prices. Exploration companies such as SU fell because they’ll get less for their oil.

Daily charts are here. Point and figure charts are here.

I don’t have positions in any of these securities.

For educational purposes only. Investigate before you speculate.

Commenting is not available in this channel entry.

<< Back to main