DWT News and Press, Citigroup Global Markets Holdings Inc ZC SP ETN REDEEM 15/12/2031 USD 25 - Leveraged Inverse From 04/01/20

Commodity demand reflected in futures - and ETF - prices. No doubt about it: the COVID-19 outbreak has wreaked havoc on worldwide markets. While demand surges, albeit raggedly, for safe-haven assets such as gold, equities have been slammed. A double whammy has been dished on the oil market...

The U.S. Department of Energy reportedly is set to announce it will allow oil companies - currently awash in a glut of crude - to lease space in the country's emergency oil reserve . More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P GSCI Crude Oil T...

The energy sector ( XLE +4% ) takes an unaccustomed spot at the top of the S&P sector leaderboard, as U.S. oil futures firm with Pres. Trump and Russia's Pres. Putin agreeing to talks aimed at stabilizing energy markets. More news on: Energy Select Sector SPDR ETF, Noble Energy,...

Storage tends to be a ho-hum business, until it isn’t. With oil demand diving, plentiful production, and the oil futures curve in steep contango, storage has become a hot topic. Of course, many midstream companies own and operate storage capacity. Today, we will briefly discuss the impl...

My base case view matches what is priced into the markets: the crude oil market is glutted and demand is falling off a cliff. Storage constraints are in sight, and I am not seeing an immediate catalyst for a demand rebound. The nearly inevitable outcome is that drilling drops dead, and ca...

U.S. crude oil (CL1: COM) settled at its lowest level since February 2002 , -6.6% to $20.09/bbl, as analysts forecast that quarantine measures are leading to the biggest-ever decline in oil demand. More news on: United States Brent Oil Fund, LP, The United States Oil ETF, LP, Energ...

Welcome to the declaration of war edition of Oil Markets Daily! Saudis are going to go all-out against Russia in April. The primary battlefield will be in Europe where Saudi has sent a record number of tankers to Egypt. Because of the geographical limitations for Saudi to ship crude to Eur...

Traders are now betting on production shutdowns to cope with the collapse in demand, triggering WTI crude prices to drop 6% to under $20/bbl overnight to levels not seen since 2002. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, Velocity...

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. The primary expectation for this week was for price discovery higher, barring failure of 20.53s as support. This expectation did play out, within the context of a balance...

All OPEC data below is from the OPEC Monthly Oil Market Report. It is thousand barrels per day and is through February 2020. The OPEC data no longer includes Ecuador. OPEC 13 was down 546,000 barrels per day in February. The only major decliners were Libya and Saudi Arabia. Algeria is si...