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Crude oil prices plunge after China unveils new tariffs on $75B worth of U.S. goods, including a 5% tariff on U.S. crude imports beginning Sept. 1; WTI -2.3% to $54.05/bbl, Brent -1.6% to $58.96/bbl. More news on: The United States Oil ETF, LP, SPDR S&P Oil & Gas Explorati...
The spring and summer seasons are the time of the year when drivers in the United States put the most mileage on their automobiles. The peak season for gasoline tends to run from May through September each year, because of the weather and vacations. In the futures market, the price of gasoline...
Going long on energy stocks is a unique way to hedge against the broader market if you think a correction or recession is on the way, DataTrek Research co-founder Nick Colas told viewers of Real Vision’s Trade Ideas. As recently as five years ago, energy stocks were 10% of the ...
Welcome to the tighter is better edition of Oil Markets Daily! As we've highlighted in the past, one of the many consequences of much tighter US crude storage fundamentals going forward will be first reflected in physical spreads and different crude qualities. With Alberta announcing a p...
Investment thesis Since our last take on the Invesco DB Oil ETF ( DBO ), our constructive view has not materialized, as increasing geopolitical tensions in the Middle East were offset by mounting trade tensions between China and the U.S. In this context and given the risk-off environme...
Continuing our weekly series, Open Insights, we’ll take a look at the EIA’s Weekly Petroleum Status Report (“WPSR”) for the week of August 16, 2019. EIA reported a crude draw of 2.7 million barrels for the week, as net imports fell off given higher exports and low...
Brent crude remained below the $60 per barrel barrier but made a slight rebound over the week to finish at $58.64 per barrel. WTI also achieved a slight weekly rise to $54.87 per barrel. Global financial markets wobbled, with traders and speculators looking to cash out amid fears of a loomin...
The American Petroleum Institute reportedly shows a draw of 3.5M barrels of oil for the week ending Aug. 16, following a 3.7M-barrel build 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 ...
Two long-awaited pipelines out of the Permian Basin started shipping oil to Gulf Coast export hubs last week, just as the gap between the U.S. West Texas Intermediate crude benchmark and the global Brent price has fallen to lowest level since July 2018 . More news on: The United States ...
Welcome to the whipping boy edition of Oil Market Fundamentals! Oil prices have been the go-to whipping boy for macro headline trades. Trade war? Sell-off. Bullish storage draws? Ignored. Over the last 2-weeks, we've seen EIA report builds in US crude storage, but most of that is from ...