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I recently wrote an article discussing how a negotiated settlement of the U.S. - Iran nuclear deal could impact the oil market. Given recent incidents, I discuss below how an armed conflict involving the U.S. and Iran might play out in the oil market. I will recount how the first Gulf War im...
By Dennis Coyne New tight oil estimates were recently released by the EIA. The chart below compares estimates from December 2018 to May 2019, where the December 2018 estimate is that estimate with the most recent month estimated being December 2018 and likewise the May 2019 estimate has ...
By Fred Fromm, CFA, Vice President, Research Analyst, Franklin Equity Group Recent attacks on oil tankers in the Middle East have grabbed headlines and revived geopolitical fears. However, Fred Fromm, portfolio manager of Franklin Natural Resources Fund, says other factors, namely global ...
The path of least resistance of the price of crude oil is a complex jigsaw puzzle that includes micro and macroeconomic factors, and geopolitical considerations. What complicates the process of analyzing the energy commodity from a fundamental perspective is that more than half the world's res...
In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action. As noted in last week's WTI Weekly , the primary expectation for this week was for price discovery higher. This expectation did play out as balance development early w...
Gainers: Natural Gas -3X Inverse ETN Velocityshares (NYSEARCA: DGAZ ) +30.3% . Velocity 3X Long Crude Oil (NYSEARCA: UWT ) +28.5% . United States 3X Oil Fund (NYSEARCA: USOU ) +28.2% . Ultrapro Crude Oil Proshares (NYSEARCA: OILU ) +27.4% . Direxion Junior Gol...
Taking A Closer Look at Oil Oil is on the downtrend this summer for several reasons. The first is the sheer oversupply of oil. The U.S. Energy Information Administration data on June 12th of 2019 showed that total oil inventory stocks were at their highest levels since the middle of 2017, a ...
One of my favorite parts of market structure in the commodities asset classes when it comes to clues about the path of least resistance of prices is the processing spread. When one raw material that trades in the futures market is an input in another that also trades independently on a futures...
Reacting to the downing of a U.S. drone over the Strait of Hormuz, oil prices spiked overnight, with WTI crude soaring 3.2% to $55.49/bbl. More news on: The United States Oil ETF, LP, iPath S&P Crude Oil Total Return Index ETN, VelocityShares 3X Long Crude ETN, Energy stocks news, To...
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 ...
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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...