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

By Dimitry Dayen, CFA Latest Attacks On Oil Tankers Could Threaten Global Crude Flows Geopolitical tensions are being ratcheted up in the Middle East with another attack on two tankers this week in the Gulf of Oman near the Strait of Hormuz, a vital trading route through which about 2...

A rocket struck the site of the residential and operational headquarters of several global major oil companies in southern Iraq early Wednesday, including ExxonMobil (NYSE: XOM ), but had no effect on oil fields or exports, sources told Bloomberg. More news on: Exxon Mobil Corporation, T...

The American Petroleum Institute reportedly shows a draw of 812K barrels of oil for the week ending June 14, following a 4.85M-barrel build in the previous week. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN,...

Crude oil prices are surging after Pres. Trump said he would hold an "extensive meeting" with Chinese Pres. Xi at the G20 summit later this month; WTI  +3.6% to $53.82/bbl, Brent +2.1% to $62.22/bbl. More news on: Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell p...

Last week was a strong one for gold, which managed to eke out its fourth straight week of positive gains. The price of the yellow metal broke above $1,350 an ounce last Friday, while gold miners, as measured by the NYSE Arca Gold Miners Index, tested their 52-week high. Investors sought safe...

Happy Father’s Day to the dads. How great was it to see native Kansan Gary Woodland win the U.S. Open golf tournament on Father’s Day. The card I received from my teenagers said, “When I grow up, I want to be as funny as you think you are!” So I will stick to report...

One of the largest uncertainties in the oil market today is the political situation involving Iran. With “war risk” insurance premiums rising in the Persian Gulf area, it’s no wonder why most of the speculation has to do with the potential outbreak of hostilities. Howeve...

Welcome to the decelerating edition of Oil Markets Daily! EIA released its latest drilling productivity report today. We purposely waited a few months before updating our model as we wanted the DPR to get more revised data from the EIA 914. Indeed, we saw massive revision downward in E...

Right now, there’s a tremendous amount of pessimism in the oil space, but this is almost entirely unwarranted. While some concerns are justified, mostly those centered around the impact that the Trump Administration’s trade wars might have on the global economy, the overwhelming ...

I am just finishing Chris Turner's important book The Patch: the people, pipelines and politics of the oil sands. Every Canadian could benefit from reading it and learning more about this history and what present challenges import for Alberta and the Canadian economy going forward. Even wh...