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I recently debunked the myth that crude oil futures price backwardation (or contango) - time spreads - is a predictor of crude futures prices in my article, Crude Oil Backwardation: Theory, Facts and Myths . In this article, I address another myth, which is that crack spreads are a predictor ...
Compared to the first quarter in 2019 (2019-Q1), IHS Markit estimates that for the second quarter, hydraulic fracturing demand in the US has increased; however, this is partly offset by an increasing US supply of around 700,000 HHP. Indeed, contrary to previous expectations, capacity additions...
A rocket struck the site of the residential and operational headquarters of several global major oil companies in southern Iraq early Wednesday, including ExxonMobil (NYSE: XOM ), but had no effect on oil fields or exports, sources told Bloomberg. More news on: Exxon Mobil Corporation, T...
Last week was a strong one for gold, which managed to eke out its fourth straight week of positive gains. The price of the yellow metal broke above $1,350 an ounce last Friday, while gold miners, as measured by the NYSE Arca Gold Miners Index, tested their 52-week high. Investors sought safe...
Happy Father’s Day to the dads. How great was it to see native Kansan Gary Woodland win the U.S. Open golf tournament on Father’s Day. The card I received from my teenagers said, “When I grow up, I want to be as funny as you think you are!” So I will stick to report...
One of the largest uncertainties in the oil market today is the political situation involving Iran. With “war risk” insurance premiums rising in the Persian Gulf area, it’s no wonder why most of the speculation has to do with the potential outbreak of hostilities. Howeve...
In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action. The primary expectation for this week was for price discovery higher. This expectation did not play out and selling interest developed early week from last week's close...
While insurers seem to have responded to the increased risks to shipping, oil traders are more sanguine. (Reuters) Oil seems to be steady in the $60 per barrel range for Brent even if the risks for tankers in the Arabian Gulf have gone up. Counterintuitively, the latest attacks on tank...
Original post By Stuart Burns On Thursday, two tankers carrying petrochemicals, one of which was a Japanese-owned ship, came under suspected attack in the Gulf of Oman. The incidents compounded the already simmering hostilities in what's possibly the world's most pivotal maritime cor...
The global economic and geopolitical landscapes are pulling the price of crude oil in opposite directions. The price of the energy commodity dropped from a high at $66.60 on the nearby NYMEX WTI futures contract and $75.59 on Brent futures in late April to lows that are not far below the curre...
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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...