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An explosion damaged an Iranian oil tanker off the Saudi port city of Jeddah, according to Iranian state media, adding that experts suspected it was a "terrorist attack." More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Lon...
Saudi Arabia tells OPEC that its crude oil production fell by 660K bbl/day in September to 9.13M bbl/day, underlining its swift recovery from the Sept. 14 attacks on key oil infrastructure. More news on: The United States Oil ETF, LP, Energy Select Sector SPDR ETF, iPath S&P GSCI Cru...
Over the last six months, substantial volatility has been seen in the United States 3x Oil Fund ( USOU ). Specifically, during this time period, we have witnessed the ETF reverse a 70% price appreciation to bring the year-to-date gain to only 5%. While this reversal has been large, I believe t...
The American Petroleum Institute reportedly shows a build of 4.13M barrels of oil for the week ending Oct. 4, following a 5.92M-barrel draw in the previous week. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x Long Crude...
One of the worst-performing sectors of the stock market has been energy-related companies. Part of the problem has been the weakness in oil and gas prices. In 2018, crude oil traded to a high at $76.90 per barrel on the nearby NYMEX futures contract. In 2019, the high has been at $66.60 in lat...
Welcome to the stagnate edition of Oil Markets Daily! EIA 914 last week was a bit of a surprise to us. It wasn't the fact that production in July was down relative to June. We knew GOM shut-in from hurricane was ~320k b/d in July, but it was the fact that overall production with the decl...
In the final quarter of 2018, the price of crude oil plunged. The NYMEX crude oil market traded to its highest price in 2018 at $76.90 per barrel at the start of Q4 2018. By the end of December, the price had declined to 42.36, a drop of 44.9% over the three months. We are now in the final q...
The US dollar is sensitive to data misses, and even though the ISM services PMI remains in expansion territory, the lower than expected index triggered a selloff of the greenback. The United States is not immune to recession fears even if it remains the developed economy with the strongest pac...
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 lower, provided last week's buy excess, 55.25s-54.75s, failed. This ...
The total count of U.S. active drilling rigs falls by 8 to 855 for a seventh consecutive decline, according to the latest Baker Hughes weekly survey . More news on: The United States Oil ETF, LP, The United States Natural Gas ETF, LP, VelocityShares 3x Long Natural Gas ETN, Energy stocks ...
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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...