OILU News and Press, ProShares UltraPro 3x Crude Oil From 08/17/22

The 50% reduction in the discount on Russian crude is temporary as the market is underestimating the impact of EU sanctions. The expected surplus in Q3 has caused WTI to decline 15% QTD. However, the significant potential for gas-to-oil switching this winter could surprise demand....

Following the recent drop in oil prices, we see signs of U.S. oil demand bottoming. The price band appears to be (crude + 3-2-1 crack) $117 to $180/bbl. An Iran deal presents the biggest near-term headwind and we see it dropping price by $7 to $10/bbl. But once the market vali...

Oil is trading at a premium based on historical data points. U.S. supply is beginning to come online again. Increased oil demand for energy in the EU is likely only temporary. Global recession risk is rising. The Iran deal is likely to close. (Editor's Note: CL1:CO...

Gainers: Pacer Ipath Gold Trendpilot ETN ( PBUG ) +46% . BMO MicroSectors U.S. Big Oil Index 3X Leveraged ETN ( NRGU ) +28% . ProShares Trust II - ProShares UltraPro 3x Crude Oil ETF ( OILU ) +25% . Direxion Daily MSCI Mexico Bull 3X ETF ( MEXX ...

EIA weekly data is likely underestimating U.S. implied gasoline data by overstating gasoline exports. This will all be corrected in the monthly report, but in the meantime, we think EIA is underestimating demand by ~300k b/d. Going forward, we see demand bottoming now. One good pr...

Gainers: Direxion Daily S&P Biotech Bull 3x Shares ETF ( LABU ) +44% . Axs 2X Innovation ETF ( TARK ) +22% . ProShares Trust II - ProShares UltraPro 3x Short Crude Oil ETF ( OILD ) +22% . Bank of Montreal Microsectors Travel 3X Inverse ( FLYU ...

EIA reported that the U.S. implied gasoline demand on a 4-week basis is now below 2020. This raises far more questions than answers, as all the other empirical data suggests otherwise. While we do acknowledge that demand has weakened, one has to question if it's that weak. Sad...

EIA reported a very bullish oil storage report yesterday. U.S. crude with SPR fell below ~900 million bbls last week, and on a YTD basis, U.S. crude with SPR is down ~105 million bbls. Gasoline demand rebounded strongly last week, with the core 3 showing some signs of recovery. ...

The United States Petroleum Reserve, aka the "SPR," holds hundreds of millions of barrels of crude oil in case of an emergency. Over 129 million barrels of oil have been released from the SPR over the past 12 months. 3 critical facts investors must know about the SPR. Ev...

We have been cautious since June, but following the recent pullback in energy equities, we are fully invested again. For energy investors, China's oil demand, OECD oil demand, and 4 other factors will be the key drivers of the oil market going forward. Under our base case, we have...