NRGU News and Press, MICROSECTORS U.S. BIG OIL INDEX 3X LEVERAGED ETNs From 07/22/23

2023-07-22 21:15:04 ET The U.S. Senate voted this week to block China from purchasing oil from the Strategic Petroleum Reserve, which stands at a 40-year-low following the Biden administration's 180M barrel drawdown last year. The legislation - an amendment to the must-pass National...

2023-07-21 20:15:22 ET The Biden administration moved this week to hike royalties and other fees for companies drilling for oil and gas on public lands. A rule proposed by the U.S. Interior Department would hike the minimum royalty rate for federal drilling rights by more than a third...

2023-07-21 14:00:47 ET Total active drilling rigs in the U.S. fell for the 11th time in 12 weeks, shedding another 6 rigs to 669, the lowest count since March 2022, Baker Hughes reported Friday in its latest weekly survey. Drilling rigs targeting crude oil in the U.S. fell for the sixth...

2023-07-18 18:55:05 ET Crude oil prices rebounded Tuesday from a pullback that was blamed on weak Chinese economic data and the restart of production at Libyan oil fields that had been shut down due to protests. The drop in oil prices during the previous few days came after a rally sinc...

2023-07-18 13:45:00 ET Summary While caution in some areas of the commodities space may be prudent, there are also reasons for optimism. Given the still-uncertain economic environment combined with the rise in equity valuations, we believe taking a more cautious stance is prudent ...

2023-07-17 20:29:00 ET Summary The UBS Constant Maturity Commodity Index (CMCI) underperformed the Bloomberg Commodity Index (BCOM) in Q2 2023 but continues to outperform year-to-date by over 3.5%. The declines in all commodity indexes during Q2 2023 was mostly due to the poor eco...

2023-07-15 20:05:00 ET Russian Urals crude oil prices exceeded the G-7 oil price cap this week for the first time, with oil prices across the board rising as Saudi production cuts begin to take hold while demand moves higher. Prices for Urals crude hit $62.22/bbl for oil ports in th...

2023-07-14 19:15:44 ET Equitrans Midstream ( NYSE: ETRN ) asked the U.S. Supreme Court on Friday to allow construction to resume on the Mountain Valley Pipeline after a three-judge panel of the Fourth U.S. Circuit Court of Appeals issued a pair of orders blocking the project e...

2023-07-14 14:05:09 ET Total active drilling rigs in the U.S. fell for the 10th time in 11 weeks, declining by 5 to 675, after posting a gain last week, Baker Hughes said Friday in its latest survey . The total rig count was 10.7% below the 756 rigs reported at the same time last ye...

2023-07-13 18:45:03 ET Crude oil prices continued their recent bounce Thursday, rising for a third straight session to settle at their best levels since late April, supported by production cuts from Saudi Arabia and Russia, a weaker U.S. dollar, and expectations for record global oil demand...