SZO News and Press, DB Crude Oil Short ETN From 08/09/19

The price of crude oil fell to the $50 per barrel level on the nearby NYMEX September futures contract last week. The price of Brent October futures moved below the $60 level to around $55 per barrel at the lows. As the oil ministers of OPEC prepared to meet in early July, many of the member...

As a follow-up to my warnings last month prior to the recent correction (" US Stock Market Showing Tech-Bubble Divergence " and " Is a Bad Moon Rising for the Stock Market? "), several areas are at make-or-break inflection points that we are watching closely for signs of a bottom in the overal...

"Growing evidence of an economic slowdown" has caused global oil demand to grow at its slowest pace since the financial crisis, according to the International Energy Agency. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x ...

August didn't start well for the West African crude oil producer. Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), one of the country's main trade unions, came close to industrial action last week over a staffing dispute with Chevron (CVX). NUPENG had accused the US oil major of d...

Saudi Arabia has reportedly phoned other oil producers to discuss possible policy responses following crude's 4.7% plunge on Wednesday to seven-month lows. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long Crude Oil...

The U.S. Oil Rig Count most recently peaked at 888 in this cycle for the week ending November 16, 2018. Since then, it has dropped to 770 in the week ending August 2nd. Much has been made of the fact that the rig count is dropping in terms of U.S. crude production levelling off. However, the...

The drop in oil prices turns into a rout after U.S. data showed an unexpected build in crude stockpiles , amplifying fears that demand for fuel is weakening alongside the U.S. economy amid rising U.S.-China trade tensions. More news on: Exxon Mobil Corporation, Chevron Corporation, Roya...

Oil prices slide alongside equities, extending recent heavy losses as deepening U.S.-China trade tensions weigh on the outlook for the global economy and energy demand; WTI -1.5% to $52.81/bbl, Brent -1.2% to $58.24/bbl. More news on: The United States Oil ETF, LP, Energy Select Sec...

By Owain Johnson At a Glance The world's most-watched commodities typically move in tandem, but global economic concerns and trade tensions have changed the dynamic. Gold prices have risen as investors look for safer assets, while U.S. oil production has made the commodity less sensi...

The U.S. Energy Information Agency released the most recent U.S. Petroleum Balance Sheet for the week ending July 26, 2019 : Key Observations: Total oil stocks, including SPR, dropped by 10.1 million barrels, and The vast majority of the week-over-week drop was primarily driven by...