OILU News and Press, ProShares UltraPro 3x Crude Oil From 11/04/19

The last month has finally rewarded the long traders in the United States 3x Oil Fund ( USOU ) with shares returning 12%, bringing the year-to-date return to 25% for the fund. In this article I will make the case that I believe that there is substantial upside ahead for investors in USOU and t...

As noted in last week’s WTI Weekly , the primary expectation for this week was for price discovery higher, barring failure of 55.41s as support. This expectation did not play out as selling interest emerged early week, driving price lower through key support to 53.71s. Buying interest ...

We took a brief hiatus from our weekly series Open Insights to update our oil thesis, recently published here , but we're back to looking at the EIA's Weekly Petroleum Status Report ("WPSR"). This is for the week of October 25, 2019. EIA reported a significant crude build of 5.7M barrels fo...

For the fourth straight month, I expect West Texas Intermediate oil prices to range between $52.50 and $62.50. With all the uncertainties surrounding trade, global growth, and future oil supply and demand, oil prices remain reasonably volatile. The US-China trade war should become less sever...

In 2018, the price range in the NYMEX crude oil futures market was $34.54. During the final three months of last year, the price traded on both sides of the range. The high came in early October at $76.90 and the low in late December at $42.36 per barrel. In 2019, we have not seen the same d...

By OVI All data for this post is from the EIA's Petroleum Supply Monthly The charts below are primarily for the largest US oil producing states (>100 kb/d) and are updated to August 2019. If you are interested in additional states, let it be known. Ron has asked if I would take ov...

It was a good day for oil bulls with the commodity finally catching some upside after a few months of weakened prices. As seen in the following chart of this week's trading action, most of the gains seen in crude occurred on Friday and appear to have been in conjunction with an overall rally i...

The total count of active drilling rigs in the U.S. racks up its ninth decline in 10 weeks, falling by another 8 rigs to 822 in the latest weekly surve y from Baker Hughes. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, VelocityShares 3x Long Natural G...

U.S. crude production surged 600K bbl/day in August to a record 12.4M barrels, enhancing the U.S. as the world's top oil producer, according to new data from the Energy Information Administration. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, ...

Crude oil prices slipped following a surprise supply build with U.S. stockpiles continuing to rise; WTI December crude settled -0.9% to $55.06/bbl and December Brent ended -1.6% to $60.61/bbl. More news on: Energy Select Sector SPDR ETF, California Resources Corporation, Nation...