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Welcome to the complex edition of Oil Markets Daily! The complexity of the oil market never stops to impress us. Following the COSCO sanctions, the crude flow balance has been altered with the East starving of crude right in front of IMO 2020 and the West getting discounted in order to m...
I wrote an article back on March 9, 2016, “ Why Crude Oil Prices May Have Bottomed .” It was soon after oil prices had dropped to $26/b in February. As it turned out, oil prices had indeed bottomed. I recently read an article, Crude Oil Has Bottomed . The thesis is that U....
We took a brief hiatus from our weekly series Open Insights to update our oil thesis, recently published here . Picking up last week, we’ll do a quick one for today, and take a look at the EIA’s Weekly Petroleum Status Report (“WPSR”) for the week of October 11, 20...
Crude oil futures ( USO +1.2% ) close higher , helped by a report that major oil producers will consider deeper production cuts when they meet in December; December WTI, the new front-month contract, settled +1.8% at $54.48/bbl, December Brent +1.3% to $59.70/bbl. More news on: 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 52.19s as support. This expectation ...
This year has been quite a turbulent one when it comes to the price of crude oil. After beginning the year with a solid five-month rally that increased the price per barrel by $20, price has since reversed a good percentage of this movement. It is my belief that the current pullback in the pri...
The total count of active drilling rigs in the U.S. falls by 5 to 851, resuming its steady decline after last week's small gain broke a streak of seven straight weekly declines, according to Baker Hughes' latest survey . More news on: The United States Oil ETF, LP, The United States Natur...
Crude oil is the energy commodity that powers the world. While environmental concerns make crude oil's future uncertain, hydrocarbons continue to be the most ubiquitous fuel source on the earth. The addressable market for crude oil has grown dramatically since the beginning of this century. In...
Oil prices continue to look for direction after some cooling off of Middle East tension and a tentative Brexit deal offset concerns over cooling growth in China and a fifth straight weekly rise in U.S. crude supplies. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oi...
Crude oil futures zigged-zagged their way to gains, closing at highs of the day after the U.S. and Turkey announced a five-day cease fire in Syria and overcoming earlier losses that followed a fifth straight weekly rise in U.S. crude stockpiles . More news on: The United States Oil ETF,...
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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...