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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 buy-side activity. This expectation did not play out as a re-test of last week&...
By Dennis Coyne The US Energy Information Administration publishes Tight Oil Production Estimates by Play each month (can be found at link above.) I noticed this month that the estimates seemed different than I, remembered so I checked earlier estimates I had saved on my computer. The ch...
Welcome to the lower today just means higher tomorrow edition of Oil Markets Daily! Refinery throughput has been disappointing. So disappointing that readers are starting to wonder if US refinery throughput will ever increase. While logically, that's an extremely laughable thought, one c...
Saudi Aramco’s (ARMCO) plan to drain U.S. crude oil inventories in 2019 failed. U.S. imports of crude oil from Saudi Arabia did in fact drop in 2019, but the reduction was more than offset by increased domestic production ( see analysis ). But as U.S. refinery utilization is expected ...
Welcome to the new low edition of Oil Markets Daily! OPEC exports are hitting a 4-year low this month with Iranian exports falling below 1 mb/d and Venezuela exports falling to a new record low. Source: Kpler, HFI Research While the final May export figures are still early, we are se...
One month ago, I suggested that investors purchase the United States 3x Short Oil Fund ETF ( USOD ). While underlying WTI has rallied recently, investors who are still holding are sitting on a slight gain, with profits at one point in the trade at excess of 15%. I normally am not that good w...
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 10, 2019 and also discuss the recent OPEC meeting in Jeddah, Saudi Arabia. EIA reported a crude draw of 5.4M barrels for the week as both exports and import...
Crude futures climbed 1.4% to $63.78/bbl overnight after Saudi Energy Minister Khalid al-Falih indicated there was consensus among OPEC and allied oil producers to drive down crude inventories "gently," although his country would remain responsive to the needs of what he called a fragile m...
Over the recent trading sessions, many commodities prices have slipped after trade negotiations between the US and China hit a roadblock. The slow pace of talks and claims that the Chinese negotiators backtracked on parts of a deal where the US thought they had an agreement led to new tariffs ...
Note: This article was first published to HFI Research subscriber. This is part of our new Oil Market Fundamental daily report. Oil prices are pulling back slightly today with Brent underperforming WTI and narrowing the Brent-WTI spread. The move today appears to be speculators dumping lon...
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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...