IEZ News and Press, iShares U.S. Oil Equipment & Services From 06/05/23

2023-06-05 10:31:51 ET Oil and gas stocks failed to maintain initial gains in early trading Monday after Saudi Arabia pledged to cut oil production by an additional 1M bbl/day and OPEC+ agreed to extend their current production targets through 2024. Brent crude oil ( CO1:COM ) f...

2023-06-05 07:00:33 ET Summary Energy investors have endured significant volatility over the past two months as China's economic recovery has fizzled out. Saudi Arabia decided to cut its production, demonstrating its commitment to defend oil prices from falling further, lending st...

2023-06-03 22:30:38 ET Oil and gas companies, as well as wind and solar developers, say language in the debt ceiling bill intended to speed up the federal permitting process for large infrastructure projects does not go far enough but could be a precursor for more sweeping legislation...

2023-05-31 14:33:58 ET Popular broad-spectrum energy exchange trade fund Energy Select Sector SPDR Fund ETF ( NYSEARCA: XLE ) dropped to its lowest level in two months on Wednesday, dragged down by a dip in oil ( CL1:COM ) prices. Oil fell 1.3% to the $68.75 per barrel r...

2023-05-26 08:51:05 ET Summary IEZ tracks the Dow Jones U.S. Select Oil Equipment & Services Index. IEZ pays low dividends, is not well diversified, and is not in a position to outperform a typical energy index. I rate IEZ a sell based on a 12-24 month outlook. i...

2023-05-25 11:58:19 ET D.C. lawmakers are closing in on a modest deal that would overhaul the U.S. permitting process for energy projects as part of legislation to raise the debt ceiling and avoid a default, The Washington Post reported Thursday. The emerging deal reportedly would e...

2023-05-09 14:37:00 ET Summary Growth has made a comeback this year. The recovery of tech stocks has been at the core of this growth rebound. Meanwhile, despite the elevated profits of oil and gas companies, energy funds haven’t had the runaway success they enjoyed last yea...

2023-05-02 14:33:55 ET Energy focused exchange traded funds found themselves trading to the downside on Tuesday afternoon as crude ( CL1:COM ) prices dropped 5.1% . Oil fell below the $72 per barrel marker as it now trades at levels not seen since March 27th due in part to conti...

2023-04-26 18:30:40 ET Shares of energy companies fell sharply Wednesday as crude oil futures sunk to their lowest levels this month, weighed by worries of a potential recession that likely would hurt energy demand. The latest U.S. supply data from the Energy Information Administration ...

2023-04-26 10:58:35 ET With a further decline in Wednesday's intraday action, oil prices ( CL1:COM ) have erased the gains posted earlier in April and fallen below a key technical barrier. The slide has weighed on ETFs tied to the commodity. Oil declined 2% in Wednesday's tradin...