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One area of great frustration to oil and gas equity owners is the lagging response of stock prices to crude futures prices. One might think there should be about a one-to-one relationship in price changes. However, going back to February 2016, when crude prices bottomed following the OPEC in...
Russia is considering a possible extension of its oil output reduction agreement with OPEC and other producers, according to First Deputy Prime Minister Anton Siluanov. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Cru...
Thanks for joining us today on the Tortoise QuickTake Podcast . I’m James Mick, Managing Director and Energy Portfolio Manager with Tortoise. First, we would like to offer our sincere thank you to all our men and women of the armed forces as we spent yesterday remembering those who...
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 17, 2019. EIA reported a crude build of 4.74 million barrels for the week. Lower imports were largely offset by lower exports. W...
Welcome to the tale of two oil markets edition of Oil Market Daily! Note: This was first published to HFI Research subscribers via our new Oil Market Fundamental daily report. The tale of two oil markets is getting more and more attention in the sell-side community. Following Energy...
By Bob Iaccino On March 1, we published a piece titled, "A Global Tour of Crude Oil: Which Countries Matter Most?" In that piece, we ranked countries in order of their influence over crude oil price movement. This was not meant to be a static list in terms of what country placed where, a...
The last month has been hard for holders of the United States Oil ETF ( USO ) with shares falling by over 11%, nearly half of which occurred in the last week. In this article, I will examine the nuances of the USO ETF and explain why price has been falling and why it is likely to continue to d...
After falling to a low on the nearby NYMEX WTI crude oil futures contract at $42.36 in late December and just below $50 on the Brent contract, the prices of both petroleum benchmarks rise steadily reaching their most recent peaks in late April. WTI moved to a high at $66.60, and Brent's top wa...
This article is a follow-up to one I wrote a couple of years ago, " When Do Crude Futures Flip Into Backwardation?" I updated the statistics and added a section on price implications. I have noted in my reading of articles and in readers' comments a strong belief that backwardation leads to...
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&...
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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...