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The surplus of supply over demand that the oil market saw in the first quarter could "flip" into a deficit in the second, according to the IEA's latest monthly report. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ...
Two weeks ago, I wrote an article in which I argued that even though the crude fundamentals were bullish, the technical and statistical factors suggested that an immediate pullback was in the cards. I normally don’t get that lucky in my timing, but since then, the price of WTI is off ...
Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of May 3, 2019. EIA reported a crude draw of 4.0M barrels for the week. Imports declined precipitously by 0.7M barrels per day (bpd) from last week and reached 6.7...
Welcome to the good stuff edition of Oil Markets Daily! The media was quite excited last week to see that the weekly US crude imports from Saudi hit the lowest level since the mid-1980s. But on a 4-week moving average basis, we are still seeing imports from Saudi average ~500k b...
The impact of the trade dispute between the US and China and a stronger dollar has weighed on the prices of many of the members of the commodities asset class. The prices of metals have moved lower over the past weeks, and copper which is a bellwether for economic growth or contract fell from ...
Even though crude prices have been falling recently, with investors racked by fears regarding global growth and rising US output, new data coming out suggests that any real degree of pessimism is misplaced. Thanks to a new report , courtesy of the EIA (Energy Information Administration), it i...
Note: This article was first released to HFI Research subscribers via our new premium oil market daily. This is the report we published. The Brent timespreads increased again in backwardation with the 1-2 eclipsing $1/bbl earlier today. While the global oil market tightness is on full disp...
In September 2018, the price of sugar traded to its lowest price since 2008 when it slipped to a low at 9.83 cents per pound. Before August of last year, the sweet commodity that trades on the Intercontinental Exchange had not traded below 10 cents per pound in over a decade since June 2008. A...
Note: This article was published after last week's EIA oil storage report. This was first published to HFI Research subscribers on May 4th. Another report and another unexplainable positive adjustment factor that added close to half the build. For the second week in a row, the adjustment i...
The U.S. Department of Energy released its May Short-Term Energy Outlook (STEO). The inventory figures they report reveal that the U.S. and global physical oil markets are well-supplied and are expected to remain that way, notwithstanding sanctions on Iran and Venezuela. U.S. Inventories ...
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WALNUT CREEK, Calif. , Nov. 20, 2019 /PRNewswire/ -- United States Commodity Funds LLC (the "Company"), a sponsor of exchange-traded products, plans to close and liquidate two of its exchange-traded products. On November 20, 2019 , the Board of Directors of the Company authori...
WALNUT CREEK, Calif. , Sept. 23, 2019 /PRNewswire/ -- USCF announced today that it will execute a one-for-two reverse share split that will be effective for shareholders of the United States 3x Short Oil Fund (USOD), a series of the USCF Funds Trust, after the close of the markets ...
WALNUT CREEK, Calif. , Aug. 6, 2019 /PRNewswire/ -- USCF today announced that it has joined the Raymond James IAD ETF No-Transaction-Fee (NTF) platform providing access to all thirteen of their exchange-traded funds and products. "We are excited to expand our suite of fun...