OILU News and Press, ProShares UltraPro 3x Crude Oil From 06/10/22

SCO is a double-short oil ETF. But its Index does not match 2X returns of the nearby NYMEX futures contract. Holding the ETF long-term would have been a disaster. But it can be useful short-term. I provide examples how I have used it. For further details see: SCO...

U.S. oil demand is starting to show signs of recovery, but we are still below that of 2018/2019. Gasoline, distillate, and jet fuel demand are only matching 2021, so a further recovery is needed. Most likely scenario, in our view, going forward is for U.S. implied oil demand to la...

Gainers: S&P Oil & Gas Expl Bull 3X Direxion (GUSH) +31%. Retail Bull 3X Direxion (RETL) +30%. Consumer Discretionary Bull 3X Direxion (WANT) +29%. Microsectors Oil & Gas Exp. & Prod. 3X Leveraged (OILU) +29%. Microsectors 3X U.S. Big Banks ETN (BNKU) +29%. Losers: S&P Oil...

USL offers an exposure to WTI futures prices. The Fund has returned 80% over the past year v. -2% for SPR500TR. A regression approach and WTI futures prices enable me to project future WTI values. However, many uncertainties exist relative to oil supply and demand, as well as ...

The oil market is still in a deficit. But U.S. oil demand continues to struggle. The core 3, gasoline/distillate/jet fuel, should have seen an increase in demand by now, but it didn't. Gasoline consumption is currently below that of 2021, so if we don't see an uptick by mid-June, ...

BNO offers an exposure to Brent futures prices. The Fund has returned 85% over the past year v. -4% for SPR500TR. A regression approach and Brent futures prices enable me to project future BNO values. However, many uncertainties exist relative to oil supply and demand, as well...

OILK has underperformed NYMEX crude futures prices in the past year and far underperformed UGA. There was a clear break in the correlation to crude futures prices beginning around June 2020, when the underlying Bloomberg Index was published. Regression analysis proves that the rel...

What happens to Russian oil production in the long run? It's not good, and since it's the 2nd largest oil producer in the world, it's going to be bad for global oil supplies going forward. A structural oil supply deficit is coming, and it won't end for a long time coming. Fo...

US oil demand is starting to bottom. Product inventories are getting dangerously low. Hurricane season could cause prices to spike even higher. SPR release is being used to "attempt" to push prices down, but overall crude balance remains firmly negative. If demand continues to...

The oil report by EIA today will pretty much capture what it will look like until October. US SPR will keep hitting commercial crude storage to the tune of ~7 million bbls a week, so commercial crude storage will build. Product storage will keep leading the way lower as refineries...