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By Stuart Cartner, Portfolio Manager , and Shawn Amini, Senior Analyst The rise of US shale oil over the past decade has upended previous energy market norms, leading to uncertainty over supply trends and heightened volatility that ebbs and flows even today. Furthermore, the emergence...
By Dennis Coyne The EIA recently released its International Energy Outlook and it is quite optimistic. In the chart below, I compare their estimate for World Crude plus Condensate (C+C) output with an oil shock model with a URR of about 3100 Gb. The IEO reference scenario shown above (...
The limited trade agreement between the US and Japan boosted trade optimism that a similar deal could be struck between the US and China. Both sides continue to send mixed messages, but so far, the balance has been on the more positive side with a tentative meeting date set for October 10 to t...
Since the September 14 attack on Saudi oilfields, the price of nearby November NYMEX crude oil futures has traded in a range from $54.75 to $63.89 per barrel. The high came when the market reopened after drones temporarily knocked out 50% of daily Saudi output, which amounts to around 6% of th...
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 price discovery higher, barring failure of 57.58s as support. This expectation ...
If there is one factor that can truly support oil prices ( USO ) in the long term, it is growing demand from non-OECD countries like India and China. It wouldn't be wrong to say that there are several factors that are currently acting against oil prices. In my previous article on this subjec...
The total count of active drilling rigs in the U.S. declines by 8 to 860, its sixth consecutive weekly decline, according to the latest Baker Hughes survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, VelocityShares 3x Long Natural Gas ETN, Energy ...
Crude oil prices drop ~$1/bbl after WSJ reports Saudi Arabia has agreed to a partial cease fire in Yemen ; WTI -1% to $55.85/bbl, Brent -1.2% to $61.97/bbl. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P GSCI Crude Oil Total Return Index ET...
Welcome the to demystify edition of Oil Markets Daily! Since the attack on Saudi's Abqaiq plant, we've read dozens of commentary from both ends of the extreme. On one end, some commentators suggested that the impacted production would be out for months. And on the other end, Saudi source...
Saudi Aramco ( ARMCO ) has restored its production to pre-attack levels, according to reports from Reuters and Bloomberg . Production at the Khurais field is at 1.3 million barrels per day and the Abqaiq plant is about 4.9 million. Total production capacity is estimated to be 11.3 million. ...
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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...