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Gasoline prices in the U.S. fell by the biggest single-day decline in 13 years on Thursday, the result of lower demand at the pump and a drop in oil prices, but analysts say gas prices could rise again if demand picks up and supplies are constrained. AAA said the average U.S...
Active drilling rigs in the U.S. rose by 2 to 752, resuming its upward climb after slipping last week, Baker Hughes reported Friday in its latest weekly survey . The entire gain came in drilling rigs targeting crude oil in the U.S., which added 2 to 597, while gas rigs were stay...
Crude oil futures rebounded Thursday after a two-day rout that sent the U.S. benchmark to three-month lows below $100/bbl. August WTI crude ( CL1:COM ) +5.8% at $104.31/bbl and September Brent ( CO1:COM ) +5.4% at $106.17/bbl, after both benchmarks closed on Wedn...
Energy sector has reversed dramatically, falling close to 25% since. The price of oil has pulled back significantly, which causes compression in gross margins for suppliers. Most industries will breathe a sigh of relief, but energy companies will be in the other camp. Up...
Oil and gas stocks were the worst performing S&P sector for a second straight session on Wednesday, as U.S. crude oil futures settled in a bear market , falling more than 20% from a March peak. Front-month WTI crude ( CL1:COM ) closed -1% at $98.53/bbl, the lowest in...
As European spot prices for gas break new records, it is becoming clear that natural gas will be one of the major battlefields of the geoeconomic war between Russia and the West. Despite a popular perception that gas exports are a major source of funding for Putin’s war chest, ...
At the G7 meeting last week, the group agreed on banning Russian gold imports, while working on a mechanism to cap the price of Russian crude oil. Essentially, the G7 is trying to create a “buyer’s cartel” to set a cap on the price of Russian crude oil. After U.S....
As many countries look to replace Russian energy, the abundance of resources in the US has taken on new importance – for both the US and its allies. The growth in US energy production over the last 10+ years has facilitated a downward trend in imports and a rise in exports, mak...
OPEC's Secretary-General Mohammad Barkindo has died at 63 years old, just hours after telling an energy summit in Abuja the the oil industry was "under siege" due to years of under-investment. Barkindo has served in the role since 2016, though the news isn't likely to shake the turbulen...
We are in an interesting junction in the MELA system as the interplay between the fall in the stock market and the economy may be reaching a make or break point. Oil and gasoline prices usually trade in different directions from transportation stocks. But what does it mean when they b...
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Barclays Bank PLC ZC SP ETN REDEEM 18/04/2041 USD 50 - 06740P221 Company Name:
OLEM Stock Symbol:
NYSE Market:
Barclays Bank PLC (“Barclays”) announced today that it plans to change the ticker for its iPath ® Pure Beta Crude Oil ETNs (the “ETNs”) which are currently listed on the New York Stock Exchange under the ticker symbol “OLEM”. The current and...
Barclays Bank PLC (“Barclays” or the “Issuer”) announced a temporary reduction of the minimum early redemption size of certain series of ETNs as specified in the table below (together, the “ETNs”). Currently holders of the ETNs are required to redeem...