OILU News and Press, ProShares UltraPro 3x Crude Oil From 03/13/20

Despite a 3% rise this morning to $32/64.bbl, crude oil is set to record a nearly 21% drop this week, marking the worst week since the financial crisis (its down almost 50% YTD). More news on: Marathon Oil Corporation, Pioneer Natural Resources Company, Apache Corporation, News on ET...

At the beginning of this week, I wrote about Russia's reasons for abandoning the OPEC deal in an article titled " Why Russia Killed The OPEC Deal ". It did not take long for Russia to explain its reasons in an exclusive interview for Reuters. Those investors who are seriously interested in t...

By Dimitry Dayen, CFA and Jeffrey Schulze, CFA In a flashback to the 2014 Thanksgiving massacre, the OPEC+ deal to further cut crude oil production was blocked last week by Russia, which refused to cut its own production significantly under an ultimatum from Saudi Arabia. Saudi Aramco init...

Pres. Trump's surprise travel restrictions in an attempt to halt the spread of coronavirus has sparked another massive drop in crude oil prices (NYSEARCA: USO ); April WTI -6.1% to $30.98, May Brent -6.6% to $33.43/bbl. More news on: The United States Oil ETF, LP, United States Brent...

By Peter C. Earle As if virus mania weren't enough: oil prices have crashed, down at least 25% percent in a mere 48 hours, after falling more since last week. Yes, that's the largest price drop since 1991. No, it is not the end times. This has almost nothing to do with virus fears. It's th...

A quick note about oil. The Saudi-Russia price war means OPEC disarray and a lower oil price for the US. The Energy Information Administration ((EIA)) reports : In 2019, about 142.23 billion gallons (or about 3.39 billion barrels) of finished motor gasoline were consumed in the United St...

OPEC cuts its forecast for global growth in oil demand this year due to the coronavirus outbreak, seeing a gain of just 60K bbl/day in 2020 vs. 920K bbl/day in its previous report. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, Velocity...

Crude turns lower after Saudi Aramco ( ARMCO ) received a directive from the kingdom’s energy ministry to up its output capacity to 13M barrels a day, though it didn't say when the capacity increase would take place. More news on: Saudi Aramco, The United States Oil ETF, LP, iPath...

Original post By Stuart Burns The current plunge in the oil price has less to do with the coronavirus than it does with power politics. Oil prices crashed by the most in 29 years Sunday night, The Telegraph reported , as Saudi Arabia announced its deal with OPEC+ to limit producti...

Mexico and other countries are looking to mediate between Russia and Saudi Arabia to end an oil price war that has battered global markets. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long Crude Oil ETN, News on ETFs...