Commodities update: USO ETF rose 3.13% as of Oct 28, 16:00 UTC

Where prices stand

According to Finnhub, as of Oct 28, 16:00 UTC the largest move among tracked commodities was the USO ETF, which rose 3.13% to $169.01; the BNO ETF rose 2.41% to $71.35; the SLV ETF fell 1.63% to $48.36; the GLD ETF fell 0.49% to $370.44; the UNG ETF rose 0.10% to $9.6500; and the CPER ETF fell 0.07% to $40.02, all from the prior close. Five-session changes ranged from +13.10% for the USO ETF to -8.40% for the BNO ETF.

Trend check

WTI Crude Oil is listed as bullish with RSI(14) 62.5; the close was 107.89, above the 50-day SMA 94.53 and the longer SMA 86.42. Brent Crude is neutral with RSI(14) 45.1; the close was 115.22, above the 50-day SMA 111.01 and above the longer SMA 95.84. Natural Gas is neutral with RSI(14) 50.9; the close was 3.1000, above the 50-day SMA 2.9632 and below the longer SMA 3.4653.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Oct 27, 22:41 UTC); it is not a recommendation.

In the news

Thehindubusinessline.com published a market report on Oct 28, 10:15 UTC about mixed global shares and oil prices gaining more than 1% after an attack on a major Saudi Arabia refinery by Iran-backed Houthi rebels. The article linked the refinery attack to renewed supply concerns while noting a prior US stock rally.

• Global shares are mixed after US stock rally, and oil prices gain more than 1% — thehindubusinessline.com, Oct 28, 10:15 UTC

What to watch

The FOMC rate decision is scheduled Wed Oct 28, 18:00 UTC (federalreserve); the BEA's Personal income and outlays / PCE is scheduled Thu Oct 29 (time not confirmed) (fred); and the BEA's GDP release is scheduled Thu Oct 29 (time not confirmed) (fred).

• Wed Oct 28, 18:00 UTC — FOMC rate decision (US) (source)
• Thu Oct 29 (time not confirmed) — GDP (BEA) (US) (source)
• Thu Oct 29 (time not confirmed) — Personal income and outlays / PCE (BEA) (US) (source)

Sources and data

• thehindubusinessline.com (secondary source) — Global shares are mixed after US stock rally, and oil prices gain more than 1%
• Finnhub (market data) — market data
• Federal Reserve (primary source) — calendar
• U.S. Energy Information Administration via FRED (primary source) — calendar
• U.S. Bureau of Labor Statistics (primary source) — calendar

Market data as of Oct 28, 16:00 UTC; report generated Oct 28, 16:00 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.