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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. ...
Crude oil prices ( USO -1.6% ) slide for the third straight day , with WTI crude returning below its 50-day moving average ($56.06/bbl) and now just $1/bbl above the level seen on Sept. 13, the day before the attacks on Saudi Arabia's oil installations; November WTI -1.7% to $55.54/bbl,...
On Saturday, September 14, seventeen drones flew into Saudi sovereign territory and hit targets in the Saudi oil fields. The attack that temporarily knocked out 50% of daily Saudi output had Iran's fingerprints all over it. As the largest OPEC producer, the Saudis lost what amounted to around ...
Crude oil prices are down but off earlier lows, as Saudi Arabia restores production more quickly than expected after the Sept. 14 attacks on its oil facilities and U.S. crude inventories recorded a surprise increase . More news on: The United States Oil ETF, LP, Cimarex Energy Co., E...
By Bryce Bingham Crude oil production in the Permian has more than quadrupled since 2011 and the basin is now, on its own, the fifth-largest producer of crude in the world. The Permian has long faced a lack of takeaway capacity due to its rapid growth, but new long-haul pipelines are final...
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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...