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OPEC will meet next week on Dec. 5-6 Although Brent crude dropped below $63 per barrel by the week closing, oil prices are still very close to the levels that prevailed around OPEC's meeting six months ago when an output cut rollover was suggested till March 2020. OPEC will meet next wee...
Amid the shale boom and President Trump's drive for American energy independence, the U.S. has posted its first full month as a net exporter of crude oil and petroleum products since government records began in 1949. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil...
For the fifth straight month, I continue to expect West Texas Intermediate oil prices to range between $52.50 and $62.50. With the expected announcement of the US-China phase-one trade deal and with the upcoming OPEC+ meeting on December 5 and 6, there is no point commenting on November's ev...
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 57.37s as support. In a tale of two ...
The US Becomes Net Exporter of Crude Oil & Petroleum Products for First Time. US exports of crude oil and petroleum products - this includes gasoline, diesel, jet fuel, naphtha, and many others - exceeded imports in September by 89,000 barrels a day, the EIA reported today, and so the ...
Saudi Aramco is the crown jewel of the Saudi Royal Family. It is also one of the world's most profitable businesses and would likely have the highest market capitalization of any company around the world. Oil production in Saudi Arabia is like turning on a hose; the vast amount of the energy c...
By Warren Patterson, Head of Commodities Strategy & Wenyu Yao, Senior Commodities Strategist Crude oil - OPEC+ action needed The oil market is set to return to surplus over the first half of 2020, and so expectations are that prices will weaken over 1H20. We are currently f...
Putting pressure on OPEC+ to avoid a major policy shift, Russian oil companies have proposed not to change their output quotas as part of the current global supply cut deal. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3...
The crude oil market has been choppy over the past weeks. However, the price has not moved outside of its trading range of $50 to $60 per barrel on the nearby January NYMEX futures contract since mid-September. On September 14, a drone attack on Saudi oil fields temporarily knocked out half of...
The count of U.S. active drilling rigs falls by 1 to 802, but it was enough for the sixth straight drop in 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 news...
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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...