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Crude oil prices ( CL1:COM ) reversed losses and turned positive after Saudi Arabia and Russia said in a statement that they are committed to oil market stability and see signs of improving oil demand. More news on: Crude Oil Futures, The United States Oil ETF, LP, ProShares Trust II -...

The additional measures undertaken by Saudi Arabia to further cut output by 1 million barrels per day (bpd) next month will help to stabilize the market balance between supply and demand. This is not about boosting prices, which have been moving in a narrow range of around $30 per barrel for...

The likelihood that Brent crude oil would follow WTI into negative territory was never a real possibility, one market assessment read. In the US shale patch, it looks like the worst is over, said a pipeline operator. Sentiments like these have put a soft floor under Brent at around $30 per bar...

We took a brief hiatus from our weekly series Open Insights to update our oil thesis. Here are our most recent thoughts. We’re now back to looking at the EIA’s Weekly Petroleum Status Report (“WPSR”) for the week of May 1, 2020. EIA reported a crude build of 4.6...

Risk level: RED RED: Severe (+/- 4%) ORANGE: High (+/- 3%) YELLOW: Elevated (+/- 2%) BLUE: Guarded (+/- 1%) THE BOOSTER SHOT The diplomatic and defense spat between the United States and Saudi Arabia shows that US shale basins were under de facto attack from a punitive swing producer. ...

Crude oil ( CL1:COM ) fails to hold earlier gains, as a slump in demand for crude outweighed a move by Saudi Arabia and some other OPEC countries to further cut production in June. More news on: Crude Oil Futures, The United States Oil ETF, LP, ProShares Trust II - ProShares Ultra Bloo...

Welcome to the shut-in edition of Oil Markets Daily! Cushing won't be hitting tank top this time around. Genscape reported that last week saw a decent-sized draw of 1.8 mbbls. As we go into May and June, production shut-ins are going to be even bigger than April making it very likely that ...

The recent rally in tech stocks has moved the Nasdaq to positive for 2020. Given how representative the index is of the overall U.S. stock market in some senses, that’s a significant accomplishment given how volatile the year has been. However, despite the Nasdaq's strength, oil stock...

Brent crude prices rose for the second consecutive week, finishing above $30 per barrel. We saw the impact of the latest OPEC+ production cut deal as May barrels started loading and helped to re-balance the market. It means that prices almost doubled in the space of two weeks as the market pro...

The Saudi Riyal's peg to the dollar has long been a strategic choice, contributing to the economic growth of the Kingdom for more than 30 years. Indeed there is no other currency that could handle the vast ocean of daily oil trades that help to keep the world moving. Because oil is traded in...