United States Oil (USO) Rises to Highest in Almost 4 Weeks on Booming U.S Exports Oil jumped to the highest in almost four weeks as U.S. crude exports surged and the expansion of domestic inventories slowed dramatically. Futures rose 0.9% in New York on Thursday. American oil exporters shipped the equivalent of more than one-fourth […]
United States Oil (USO) Export Story Has Really Just Started All told, the US could become the largest crude oil exporter within five years. While U.S. crude oil production has soared 160 percent to 13 million b/d in the shale-era since 2008, total demand has remained flat at 19-21 million b/d. In turn, exports of […]
United States Oil (USO) inches higher, but gains capped by widening economic impact of coronavirus outbreak Oil prices were slightly higher on Wednesday with gains limited by the widening economic impact from the coronavirus epidemic that started in China, although new confirmed cases fell for a second day in the province at the centre of […]
United States Oil (USO) prices fall as market weighs coronavirus demand impact Oil prices fell on Tuesday, tracking losses in financial markets on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand. Brent crude LCOc1 was at $57.07 a barrel, down 60 cents, or 1%, by […]
United States Oil (USO) investors brace for economic data in Asia due this week Oil prices edged lower on Monday as investors brace for economic data in Asia due this week that should give a reading on how China’s coronavirus epidemic has affected oil demand. Brent crude was at $56.99 a barrel, down 33 cents […]
United States Oil (USO) prices steady but set for weekly gain on supply cut optimism Oil prices were steady on Friday but are set for their first weekly gain in six weeks on the assumption major producers will implement deeper output cuts to offset slowing demand in China, the world’s second-largest crude user. Brent crude […]
United States Oil (USO) – The $2 Trillion Threat To Middle East Oil The global drive to mitigate the impact of climate change and boost renewable energy is threatening the immense wealth that the Arab Gulf oil producers have accumulated from crude oil over the past decades. In less than a decade and a half, […]
United States Oil (USO) prices can’t shake off the coronavirus Oil prices steadied on Monday in Asia after posting a fifth straight weekly loss. U.S. Crude Oil WTI Futures inched up 0.1% to $50.37 by 1:27 AM ET (05:27 GMT), while international Brent Oil Futures also gained 0.1% to $54.52. Combined losses over five weeks […]
United States Oil (USO) dragged down by worries about lower demand in China Oil prices extended their losses on Monday, dragged down by worries about lower demand in China, the world’s largest oil importer, following a coronavirus outbreak there. Brent and U.S. West Texas Intermediate (WTI) crude fell for a fourth week in a row […]
United States Oil (USO) falls on spread of Wuhan virus, U.S. oil-stocks build Oil prices fell on Thursday as alarm spread over the economic impact of the Wuhan virus in China, while a bigger-than-expected increase in U.S. crude stocks added to the negative tone. Brent was down 95 cents, or 1.6%, at $58.86 a barrel by […]
United States Oil (USO) falls as the death toll from the new virus in China climbed to 170 Oil prices fell on Thursday as the death toll from the new virus in China climbed to 170 and more airlines canceled flights to the country’s major cities, while rising U.S. crude inventories added to the negative […]
United States Oil (USO) gains amid assessment of China virus impact, possible OPEC supply cuts Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day rout on talk that OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles also […]
United States Oil (USO) plunged more than 15 percent over the past three weeks Oil prices have plunged more than 15 percent over the past three weeks, hitting their lowest levels since October as concerns about increased global production have been amplified by fears of the coronavirus outbreak in China hurting economic growth and energy […]
United States Oil (USO) Saudi Arabia’s energy minister seeks to calm the market Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand, even as Saudi Arabia’s energy minister sought to calm the […]
United States Oil (USO) steady but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken Oil prices were steady on Friday, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken as the […]
United States Oil (USO), Canadian oil company bankruptcies surge 50 per cent in 2019 The number of oil and gas company bankruptcies in the United States and Canada rose 50% in 2019 over the previous year, and is likely to increase as a slide in energy prices continues to shake producers Dallas law firm Haynes […]
United States Oil (USO) extending declines as the International Energy Agency (IEA) forecast a market surplus in the first half Oil prices eased on Wednesday, extending declines as the International Energy Agency (IEA) forecast a market surplus in the first half, helping ease concerns about disruptions that have slashed Libya’s crude output. Brent crude was down […]
United States Oil (USO) Price Rises after Libyan Oilfield Shutdowns Oil price rose to its highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, Reuters reported. Brent crude LCOc1 futures were up by 74 cents, or 1.1%, to $65.59 by 0331 GMT, […]
United States Oil (USO) trading higher after two large crude production bases in Libya began shutting down amid a military blockade Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from […]
United States Oil (USO) drops as U.S. to keep tariffs on Chinese goods until Phase 2 deal-Mnuchin Oil prices slipped on Wednesday on concerns that the pending Phase 1 trade deal between the United States and China, the world’s biggest oil users, may not boost demand as the U.S. intends to keep tariffs on Chinese […]
United States Oil (USO) falls 1% as focus shifts to high U.S. fuel stocks Oil prices fell about 1% on Monday as Middle East tensions eased and investors turned their focus to lackluster seasonal demand following last week’s bearish U.S. report showing a large fuel stockbuilds. Brent crude <LCOc1> settled down 78 cents at $64.20 […]
United States Oil (USO) US threatens sanctions if China keeps buying Iranian oil Treasury Secretary Steven Mnuchin said he is working with China to cut off the minimal flow of Iranian oil exports to the country on “Sunday Morning Futures” with Maria Bartiromo. “We’ve cut off probably over 95% of the oil revenues, so there’s a […]
United States Oil (USO) up, stocks down after Iran missile attack on US troops Oil prices rose and global stock markets fell Wednesday after Iran fired missiles at U.S. bases in Iraq in retaliation for the killing of an Iranian general. Brent crude futures, the benchmark for international oils, spiked more than $3 per barrel […]
United States Oil (USO) prices sink after roller-coaster ride amid U.S.-Iran tensions Oil prices plunged over 4 percent on Wednesday after a roller-coaster ride as market participants assessed the possibility of a global crude supply disruption by monitoring the latest development of U.S.-Iran tensions. The United States killed Major General Qassem Soleimani, commander of Iran’s […]
United States Oil (USO) spikes after Iran attacks US forces The price of oil spiked Wednesday (Jan 8) after Iran launched revenge attacks on US forces in Iraq, making good on its pledge to hit back over the killing of its top general. The main US contract rocketed by more than 4.5 per cent as […]
United States Oil (USO) touches $70 as US-Iran clash sparks concerns over supplies Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the U.S. assassinated one of Iran’s most powerful generals. Futures rose as much as 3.1% on Monday as the […]
United States Oil (USO) hits $70 as Iran exits nuclear deal, tensions intensify Oil extended its dramatic price surge as the fallout between the US and Iran escalated after the assassination of one of the Islamic Republic’s most powerful generals. Futures jumped above $70 a barrel in London as the US State Department said there’s […]
United States Oil (USO) market continues to see robust crude oil production from the USA, Canada, and Brazil Oil prices treaded water before settling slightly higher on the first trading day of 2020 amid concerns that U.S. crude production could rebound strongly. West Texas Intermediate, the U.S. crude benchmark, settled up 12 cents, or 0.2%, […]
United States Oil (USO) supported by U.S.-China trade optimism, Middle East tensions Oil prices kicked off the new year higher on Thursday as warming trade relations between the United States and China eased demand concerns, while rising tensions in the Middle East fueled worries about supply.Global benchmark. Brent crude futures, were up 22 cents, or 0.3%, […]
United States Oil (USO) on Track for Best Year Since 2016 as Supply Concerns Ease Oil is on track for the biggest yearly gain since 2016 as declining U.S. crude stockpiles eased oversupply concerns, and heightened geopolitical risk gave the commodity a boost. Futures in New York held near a three-month high Monday. American crude […]
The Next United States Oil (USO) Boom Is Happening Here ust as the U.S. shale industry is slowing down, oil production in other non-OPEC countries is on the rise. Output in U.S. shale grew substantially in 2019, although at a slower rate than in years past. More importantly, as investors lose interest and capital markets […]
United States Oil (USO) holds near recent three-month highs amid optimism that the United States and China are close to signing a trade deal Oil prices slipped on Monday, but held near recent three-month highs amid optimism that the United States and China are close to signing a trade deal, with President Donald Trump saying […]
United States Oil (USO) hover near highest levels since mid-September Oil prices held steady near three-month highs on Friday on the back of easing Sino-U.S. trade tensions that have weighed on demand as well as the global economic growth outlook. Brent futures rose 2 cents, or 0.03%, to 66.56 a barrel by 0145 GMT, while […]
United States Oil (USO) remained near a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal Oil prices trickled a fraction lower on Tuesday but remained near a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal is in the pipeline, […]
United States Oil (USO) remain near a three-month high as investors kept the faith Oil prices trickled a fraction lower on Tuesday but remained near a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal is in the pipeline, set to stoke oil demand in the world’s biggest […]
United States Oil (USO) market still unbalanced despite OPEC+ cuts Additional cuts by the powerful OPEC group of oil producers and its allies may not be enough to eliminate a glut of crude on the global market, the IEA warned on Thursday. Meanwhile, energy consumption by China is bounding higher – a signal that the […]
United States Oil (USO) surprise build in U.S. crude inventories Oil prices dropped almost 1% on Wednesday following a surprise build in U.S. crude inventories, and as investors waited to see if a fresh round of tariffs by Washington on Chinese goods would come into force on Sunday. Brent futures settled at $63.72 per barrel, […]
Unexpected increase in US stocks puts United States Oil (USO) under pressure Oil prices fell on Wednesday after industry data showed a surprise build in crude oil inventory in the US and as investors waited for news on whether a fresh round of US tariffs on Chinese goods would take effect on Sunday. Brent futures […]
United States Oil (USO) near 12-week high after Saudi Arabia surprise with output curbs Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members. Futures in New York edged lower after climbing 1.3% Friday […]
United States Oil (USO) drops as market awaits ratification of OPEC+ supply cut Oil slipped in early Asian trade on Friday, with U.S. crude moving further away from a two-month high after OPEC agreed to increase output curbs in early 2020 but failed to promise further steps after March. Brent futures were down 21 cents, […]
United States Oil (USO) could fall below $40 unless OPEC deepens cuts Crude oil prices are expected to plunge to $40 a barrel in 2020 unless OPEC and Russia agree to deepen – and not just extend – their production cuts, according to a new report from the Norwegian research firm Rystad Energy. The Organization of […]
United States Oil (USO) output still rising amid lower prices Production by over 950,000 bpd since September 2018, though year-on-year growth rate has been decelerating gently US crude production rose again in September, confounding sceptics who have long been predicting that output is poised to begin declining because of lower oil prices. Crude output increased […]
United States Oil (USO) signs of rising manufacturing activity in China pointed to increasing fuel demand Oil prices rose more than 1% on Monday as signs of rising manufacturing activity in China pointed to increasing fuel demand, and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next […]
United States Oil (USO) investors are taking a wait-and-see approach Oil prices ended mixed on Thursday, with U.S. prices rebounding modestly from concerns that arose from U.S. President Donald Trump signing into law a bill backing protesters in Hong Kong, fuelling tensions with China. Brent crude lost 14 cents, or 0.2%, at $63.92 a barrel, […]
United States Oil (USO) rose against expectations as production hit a record. Oil prices fell on Thursday, extending losses from the previous session after official data showed U.S. crude and gasoline stocks rose against expectations as production hit a record. Brent crude futures were down 18 cents, or 0.3%, at $63.88 a barrel by 0517 […]
United States Oil (USO) hopes surrounding the signing of the first phase of a U.S.-China trade deal prevented a bigger drop in prices Oil eased on Wednesday following an industry report showing a surprise build in U.S. crude stockpiles, but hopes surrounding the signing of the first phase of a U.S.-China trade deal prevented a […]
United States Oil (USO) prices extend losses on supply, trade war fears Oil prices slipped for a third day on Wednesday as a surge in US stocks reinforced concerns about lacklustre global economic growth, while hopes ebbed for any movement on the US-China trade war. West Texas Intermediate crude futures erased early gains to trade […]
United States Oil (USO) Prices Tumble Amid US-China Trade Uncertainty Oil prices tumbled Tuesday as lingering questions over the US-China trade talks weighed on sentiment on a mixed day for global equity markets. Both US benchmark West Texas Intermediate and London’s Brent oil fell sharply on signs Beijing and Washington may be drifting further apart […]
United States Oil (USO) Prices Amid U.S.-China Trade Jitters Officials in China are troubled by U.S. President Donald Trump’s comment that there was no agreement on phasing out tariffs, according to the report. U.S. Crude Oil WTI Futures dropped 0.2% to $57.03 by 12:13 AM ET (04:13 GMT), while International Brent Oil Futures slipped 0.1% […]
United States Oil (USO) steadies as trade deal hopes dim Oil prices were little changed overnight after paring gains of about 1.0 per cent following a speech from US President Donald Trump that offered few new details about his country’s trade talks with China. Concerns about slower economic growth and oil demand due to the […]
United States Oil (USO) lower amid lingering uncertainty on whether the United States and China will agree a long-awaited deal to end their bitter trade dispute Crude oil futures fell on Friday amid lingering uncertainty on whether, and when, the United States and China will agree a long-awaited deal to end their bitter trade dispute, the gloom […]
United States Oil (USO) investors focus on data from the Energy Information Administration due out today Brent crude futures were at $62.60 a barrel by 0330 GMT, down 36 cents, or 0.6%. Brent settled up 1.3% on Tuesday. U.S. West Texas Intermediate (WTI) crude futures fell 29 cents, or 0.5%, to $56.94 per barrel, having […]
United States Oil (USO) on U.S.-China hopes, improved demand outlook Oil prices rose on Monday, buoyed by an improved outlook for crude demand as better-than-expected U.S. jobs growth added to market hopes a preliminary U.S.-China trade deal would be reached this month. Brent crude futures gained 47 cents to settle at $62.17 a barrel. US West Texas […]
United States Oil (USO) production continues to soar despite the falling oil rig count Crude oil futures were lower in mid-morning trade in Asia Monday, retracing gains from last Friday after US crude production was reported to have hit a fresh record high of 12.4 million b/d. “US crude oil production continued to soar despite […]
United States Oil (USO) still heading for losses of about 4%, hit by a combination of rising global supply and uncertain future demand Oil prices edged up on Friday after a difficult week, but were still headed for losses of about 4%, hit by a combination of rising global supply and uncertain future demand. U.S. […]
United States Oil (USO) extending losses after a surge in U.S. inventories surprised investors Oil prices fell for a fourth day on Wednesday, extending losses after a surge in U.S. inventories surprised investors, overshadowing an interest rate cut by the Federal Reserve. Brent crude futures were down 6 cents at $60.55 a barrel by 0033 […]
United States Oil (USO) traders revive fears about sluggish demand amid the thought of more abundant supplies Oil prices slipped on Wednesday, with U.S. crude falling for a third day after an industry report that stocks at the Cushing delivery hub for the benchmark rose last week, shrugging off a drop in overall inventories. Brent […]
United States Oil (USO) Don’t Bet on a Rally Just Yet Oil bulls are rebuilding their positions, but it will probably take some major news to shake the market out of its current mood and trigger a sustained rally. Money managers boosted their net-long position on West Texas Intermediate crude for the first time since […]
United States Oil (USO) further market-supporting action by Opec and its allies offset some concern over the outlook for demand Oil prices extended their gains on Thursday, with Brent rising above US$61 a barrel as a surprise drop in US crude inventories and the prospect of further market-supporting action by Opec and its allies offset […]
United States Oil (USO) prices mark highest finish in a month as U.S. supplies post surprise weekly drop Oil futures marked their highest finish in about a month on Wednesday, after a U.S. government report showed an unexpected weekly decline in U.S. crude supplies — the first in six weeks. With refiners set to ramp […]
United States Oil (USO) prices rose overnight after the Chinese government signalled that progress had been made in trade talks Oil prices rose overnight after the Chinese government signalled that progress had been made in trade talks with the United States but crude’s gains were capped by forecasts of a build up in US stockpiles. […]
United States Oil (USO) fell after comments from a U.S. official stymied hopes that a U.S.-China trade deal would be reached soon Oil prices fell nearly 1% on Monday after comments from a U.S. official stymied hopes that a U.S.-China trade deal would be reached soon, feeding worries that a slowing global economy would reduce […]
United States Oil (USO) rises, supported by US fuel stock draws but weighed by crude build Oil prices rose about 1 per cent on Thursday after draws in US fuel inventories, but gains were capped by a larger-than-expected rise in crude stockpiles and a series of weak economic figures. Global benchmark Brent crude rose 49 […]
United States Oil (USO) eased after industry data showed a larger-than-expected build-up in stocks in the United States Oil prices eased on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, although losses were limited by comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal. Global benchmark […]
United States Oil (USO) fell following two days of weak Chinese data and as investors continued to fret over prospects for a U.S.-China trade deal Oil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a […]
United States Oil (USO) fell as a lack of details about the first phase of a trade deal between the United States and China undercut optimism Oil prices fell sharply on Monday as a lack of details about the first phase of a trade deal between the United States and China undercut optimism over a […]
Russian President Vladimir Putin will visit Saudi Arabia on Monday, where he is set to seal oil agreements as well as use his influence to defuse rising tensions in the Gulf. The meeting with King Salman and Crown Prince Mohammed bin Salman comes following attacks on Saudi oil installations that Riyadh and the US have […]
The OPEC oil cartel saw its crude production fall in September, mostly due to production falling in Saudi Arabia following attacks on its oil infrastructure, according to its monthly oil report released on Thursday. The Organization for the Petroleum Exporting Countries said its production fell to an average of 28.49 million barrels per day (mbd) […]
United States Oil (USO) currently driven by sentiment rather than the real fundamentals Oil prices are not going anywhere, at least until this time next year. Brent Crude will still trade range-bound in the $50s a year from now, the heads of the world’s largest independent oil and commodity trading groups said on Wednesday. The […]
United States Oil (USO) settles with a loss as Fed minutes raise economic worries U.S. oil futures settled slightly lower Wednesday, giving up earlier gains, as minutes from the Federal Reserve’s September meeting raised worries about the economy and government data revealed a fourth straight rise in domestic crude supplies. Prices had moved higher earlier […]
United States Oil (USO) slipped as tensions escalated between the United States and China Oil prices slipped for a third consecutive session on Wednesday as tensions escalated between the United States and China prior to this week’s trade talks, raising uncertainties for global economic growth and oil demand. U.S. industry data showing a bigger-than-expected rise […]
United States Oil (USO) traders fearing the global economic slowdown will weigh on future demand Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the U.S.-China […]
United States Oil (USO) edges higher but on track for big weekly loss Oil futures edged higher on Friday but were on track for a large weekly loss on fears that slower global economic growth will hurt fuel demand, while Saudi Arabia said it has fully restored oil output after recent attacks. Brent crude oil futures […]
United States Oil (USO) drops to 2-month low on economic woes Oil futures declined, with U.S. and global benchmark prices logging their lowest finish in about two months, as downbeat economic data weighed on prospects for energy demand, and domestic crude stockpiles registered a third straight weekly climb. The U.S. added a modest 135,000 private-sector […]
United States Oil (USO) slipped pressured as weak US economic data dimmed crude’s demand outlook Oil prices slipped on Tuesday, pressured as weak US economic data dimmed crude’s demand outlook, while reports of an output decline from the world’s largest oil producers in the third quarter kept prices from falling further. Brent crude futures lost […]
Iran said on Monday that it is on track to create a new oil terminal on the Sea of Oman that would open a new export route for its crude and allow tankers to bypass the strategic Strait of Hormuz. The National Iranian Oil Company signed a contract worth around $52 million Monday with three […]
United States Oil (USO) trims losses U.S. oil prices trimmed their losses on Thursday and global benchmark prices finished higher, as the Pentagon announced that it would deploy equipment and personnel in support of Saudi Arabia following attacks on its oil facilities earlier this month. Oil futures had suffered from steeper declines for much of […]
United States Oil (USO) finishes lower as U.S. supplies rise a second straight week Oil futures finished with a loss on Wednesday as U.S. government data revealed a second weekly climb in domestic crude inventories. Also weighing on prices were news reports saying Saudi Arabia had restored most of crude production capacity, recovering from attacks […]
United States Oil (USO) fell as U.S. President Donald Trump fanned market fears that Sino-American trade tensions are far from settled Oil prices fell 2% on Tuesday as U.S. President Donald Trump fanned market fears that Sino-American trade tensions are far from settled amid ongoing negotiations, a grim sign for oil demand growth. Trump sharply […]
United States Oil (USO) rallies on MidEast tensions, stocks weighed by trade remarks Oil prices rallied Monday after Iran warned the presence of US forces in the Gulf was causing instability in the region, while equities were mostly down as Donald Trump said he did not want a partial trade deal with China. While a […]
United States Oil (USO) futures extend losses to a second session Oil futures fell on Wednesday, after suffering a loss of nearly 6% a day earlier, pressured as Saudi Arabia’s output levels looked to recover much sooner than expected and the U.S. government reported a weekly rise in domestic crude inventories, following four consecutive weeks of […]
United States Oil (USO) consumers can expect prices at the pump to rise up to 20 cents Gas prices already are rising after an attack badly damaged two oil facilities in Saudi Arabia over the weekend, disrupting world oil supplies and sending crude oil prices up 15% on Monday. The average national gasoline price in the U.S. […]
United States Oil (USO) holds most huge gains after Saudi attack, Fed moves into view Oil prices dipped Tuesday but held most of the previous day’s record gains following an attack on Saudi facilities that wiped out half the country’s output, with traders nervously awaiting the US response after it said Iran was likely to […]
