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I expect West Texas Intermediate oil prices to once again range between $52.50 and $62.50, which is the same range as my last month's forecast. August has been a difficult and volatile month for oil prices and equities. There were the US-China tariff flareups followed by the G7. Yet, oil pri...
By Brian Watson, CFA Amid the ongoing volatility of equity prices, underlying midstream fundamentals continue to be healthy. Midstream throughput, as measured by the production of oil, natural gas, and natural gas liquids (NGLs), continues to increase. Midstream capital needs and balan...
The Real Reason Why US Oil Production Has Peaked Raymond James recently estimated that over the last three years the U.S. decline rate for oil has doubled from 1.6 to 3.2 million barrels per day. The drilled but uncompleted well inventory ("DUC") is back to normal, so the number of wells...
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 lower barring sell-side failure at the key demand cluster, 54s-...
Welcome to the flatter than pancake edition of Oil Markets Daily! EIA 914 report came out today and US oil production declined slightly versus May. June production came in at 12.082 mb/d versus 12.115 mb/d. As a result, US oil production finished the first half of 2019 flat versus Decemb...
Crude oil futures tumble following reports that Russian Energy Minister Novak said Russia's oil production cuts this month will come in slightly below those agreed under the deal between OPEC and non-OPEC producers; WTI -3.7% to $54.63/bbl, Brent -1.2% to $60.32/bbl. More news on: T...
Welcome to the OOW edition of Oil Markets Daily! EIA reported a bullish crude draw report today of -10 mbbls. This was slightly higher than our estimate of -9 mbbls. Since we've made the improvement on June 14th, we have seen much more accurate estimates from our US weekly crude storag...
The oil market has once again come to the forefront as a major worry for investors. As was the case in last year’s stock market plunge, oil prices are under pressure as the trade war threatens to further reduce global demand. In this report, we’ll look at the evidence which shows...
By Gregor Spilker At A Glance U.S. soybeans remain one of the most affected U.S. commodities in the trade war, and history suggests there could be lasting effects. No increased tariffs on oil could mean that U.S. crude remains too important to the Chinese economy. Because commodi...
By Dennis Coyne Seems we don't know what future completion rates will be in the Permian basin or anywhere. There are many different opinions on whether the completion rate might increase, decrease or stay the same. In my view, the conservative assumption is to assume they will not go up or...
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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. , 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...