SZO News and Press, DB Crude Oil Short ETN From 06/01/19

Introduction In our past EIA reports this year, we referenced the fact that the inventory data wasn't matching up to price expectations and the overall bullish sentiment conveyed by energy markets. We further stated that the data was going to have to improve or oil markets were headed for so...

Over the last month, we've seen shares in the United States Oil Fund ( USO ) fall by nearly 12% in an ever-steepening collapse in price. One week ago, I wrote a piece in which I showed how some fundamentals were indicating that a bearish decline was likely in the cards. In this piece, I will...

The price of nearby NYMEX crude oil futures rallied from lows of $42.36 to a high at $66.60 per barrel at the end of April. Brent crude oil did even better, moving from $49.96 to a high at $75.59 per barrel as the Brent-WTI spread has widened steadily since early April. The low in the energy c...

The total count of active U.S. drilling rigs adds 1 to 984 after posting slight declines for three straight weeks, according to Baker Hughes' latest weekly survey. More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, iPath S&P Crude Oil Total Return Index...

Crude oil prices tumble to fresh three-month lows as concerns about Pres. Trump's trade policy cast doubt on the outlook for global demand; WTI -2.3% to $55.29/bbl, Brent -2.9% to $64.93/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P Cr...

The OPEC+ deal’s period of validity is nearing and I offer my analysis regarding the cartel’s future actions and their consequences for the fundamental state of the oil market. Let us recall first what OPEC decided in December: ... the Conference decided to adjust OPEC ove...

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last week’s WTI Weekly , the primary expectation for this week was for sell-side activity. This expectation did play out as balance developed early we...

The data for the charts below are from the EIA's Monthly Energy Review . I will update this post Friday, May 31st with March data for the USA and charts for several states when the EIA's Petroleum Supply Monthly is published. All data is through February 2019 and is thousand barrels per day...

My June West Texas Intermediate oil price forecast ranges between $55 and $65 per barrel. The range is $7.50 lower than last month's forecast. Since last month's forecast, analysts generally believe that OPEC+ can replace reduced Iranian oil output. Previously, some pundits were forecasting ...

Benchmark crude oil prices tumbled to their lowest levels since March following a smaller than expected decline in U.S. crude inventories and fears of a global economic slowdown from the U.S.-China trade war. More news on: Cimarex Energy Co., Devon Energy Corporation, Marathon Petroleu...