The Ubika Energy 20 Index declined since our last report, defying a more than 5% gain in the WTI crude price
The Ubika Energy 20 (UE20) Index declined 4.8% since our last report dated July 10th, 2017, lagging both of its benchmarks, the TSX Capped Energy Index and the West Texas Intermediate (WTI) crude oil price. The TSX Capped Energy Index gained 1.5% and the WTI crude price gained 5.7% over the same period. Given the increase in both the TSX Capped Energy index and the WTI crude price, it is strange to see the UE20 decline. In this report, we will discuss the bearish investor sentiment toward the WTI crude price, which provides an insight into the decline in the UE20. Furthermore, we will discuss the biggest price movers since our last report, including a 25% jump in share price of Corridor Resources Inc. (TSX: CDH).
Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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