These 5 U.S. Oil Stocks Are Hurting The Most After EIA Report

Oil spiked briefly to above $45 per barrel Wednesday, Sept. 14, following a better-than-expected crude oil inventory report from the U.S. Energy Information Administration, only to come crashing back down below $44 per barrel shortly before 11 a.m.

The report, released at 10:30 a.m., announced crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 600,000 barrels this past week. 

The data contrasts a Tuesday report from the American Petroleum Institute, which said inventories built by 1.4 million during the period. Both reports likely come as somewhat of a letdown to investors hoping crude stockpiles have finally felt the impact of the typically higher-demand summer season. 

Both sets of data also come after a week in which the EIA reported U.S. reserves fell by 14.5 million barrels, likely a result of Hurricane Hermine's anticipated ravaging of the Gulf of Mexico, 

But analysts were calling for as much as a 4-million barrel uptick in reserves this week, possibly leading to the initial shock factor driving oil up briefly. 

Now that the commodity has settled lower once again, though, a number of U.S. stocks are suffering as well. 

Chief among them was Murphy Oil (MUR) , which was driven out of the red briefly by the EIA's surprise report to just north of its Tuesday close of $26.16 per share, but fell back shortly after. 

Murphy's shares had fallen about 3.9% by midday to $25.09 apiece, the greatest lost among companies in the Energy Select Sector SPDR Fund (XLE)

And oil-levered players on the heels of El Dorado, Ark.-based Murphy included Marathon Oil (MRO) , down about 2.1%; fan-favorite Newfield Exploration (NFX) , down about 1.9%; Hess (HES) , down about 1.8%; and Noble Energy (NBL) , also down about 1.8%. 

The entire Energy Select Sector SPDR fund was down about 0.6% around midday Wednesday, as oil stalled below $44 per barrel and despite a drooping dollar, which typically pushes oil in the opposite direction. 
 
The next big datapoint comes Friday with Baker Hughes' (BHI) weekly North American rotary rig report. Analysts have been calling for a fall in the count starting this month since the count tend to lag significant movements in oil prices by as much as a quarter. 
 
So far, U.S. producers have been resilient to the effects of the mid-summer plummet in oil prices, adding a number of rigs last week. But at 510.8 million barrels, the EIA pointed out Wednesday, U.S. crude oil inventories remain historically high.
 
And with oil falling again on this week's bearish data coming from the Organization of Petroleum Exporting Countries, the Paris-based International Energy Agency, the API, and now the EIA, a temporary pullback in rig activity is not a stretch of the imagination. 

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