United States Oil (USO) prices dropped by almost 1 percent Oil prices dropped by almost 1 percent on Monday, with concerns recession could be looming outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.56 per barrel at 0410 GMT, down 47 cents, […]
United States Oil (USO) as economic growth concerns weighed on sentiment Oil prices eased from 2019 peaks on Friday as economic growth concerns weighed on sentiment, pausing a three-month rally driven by OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela. Brent crude oil futures were at $67.72 per barrel at 0419 GMT, down […]
United States Oil (USO) spiked 40% since Christmas Eve thanks to OPEC’s aggressive production cuts US oil prices have spiked 40% since Christmas Eve thanks to OPEC’s aggressive production cuts. Crude’s recovery from last year’s bear market hit another milestone on Wednesday. Oil topped $60 a barrel for the first time since November 9. The […]
United States Oil (USO) prices touch 2019 highs, supported by OPEC Oil prices were little changed after hitting 2019 highs on Tuesday, maintaining recent strength on the back of expectations for OPEC to continue production cuts. U.S. oil prices have climbed 9 percent in the last six weeks, as the supply cuts are now expected to continue […]
United States Oil (USO) prices hover near 2019 highs Oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC. U.S. sanctions against oil producers Iran and Venezuela are also boosting crude prices, although traders say the market looks capped by rising American output. U.S. West Texas Intermediate (WTI) futures were down four cents […]
United States Oil (USO) price gains have been limited by concerns that an economic slowdown US crude futures briefly hit a 2019 high on Friday but retreated along with benchmark Brent oil as worries about the global economy and robust US production put a brake on prices. West Texas Intermediate (WTI) crude oil futures were […]
United States Oil (USO) recent data revealed a weekly decline in domestic supplies Oil futures split ways on Thursday, with U.S. prices up a fourth straight session after recent data revealed a weekly decline in domestic supplies, but global prices ending lower in the wake of a reported delay in the U.S.-China trade discussions and […]
United States Oil (USO) sanctions on Venezuelan petroleum products have cemented support for oil prices Brent crude oil prices on Thursday hit their highest so far this year, pushed up by ongoing supply cuts led by OPEC and by U.S. sanctions against Venezuela and Iran. Brent was still at $67.75 per barrel at 0244 GMT, […]
United States Oil (USO) output forecast is reduced Oil prices edged higher on Wednesday, supported by planned cuts to Saudi exports and a reduced forecast for U.S crude output. International Brent crude oil futures were at $66.93 a barrel at 0039 GMT, up 26 cents, or 0.4 percent, from their last close. Brent touched $67.39 a barrel on […]
United States Oil (USO) production could become less responsive to crude prices as major oil companies expand operations in the nation’s shale fields U.S. oil production could become less responsive to crude prices as major oil companies expand operations in the nation’s shale fields, now dominated by smaller producers, International Energy Agency officials said at […]
United States Oil (USO) Going to be a market with tremendous volatility “It’s going to be a market with tremendous volatility,” said Carlos Pascual, IHS Markit senior vice president. “In 2018, the price of [Brent] oil went between $50 and $86 a barrel, but the average was $70. For the person looking at it and […]
United States Oil (USO) OPEC output to its lowest in nearly four years Oil futures posted a gain on Thursday, buoyed by data showing a fall in February OPEC output to its lowest in nearly four years. On Wednesday, prices for U.S. benchmark crude oil had finished lower after U.S. government data revealed a hefty […]
United States Oil (USO) fuel stockpiles offsets a surge in crude inventories Oil prices were mixed in choppy trade on Wednesday, after government data showed a surge in weekly U.S. crude stockpiles that was partly offset by a drop in the nation’s inventories of refined fuel. A drop in U.S. equity indexes also weakened sentiment in crude […]
United States Oil (USO) supplies rose by a much more than expected 7.3 million barrels for the week The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by a much more than expected 7.3 million barrels for the week ended March 1, according to sources. The API also reportedly showed that gasoline […]
United States Oil (USO) rebound after sinking last week Oil prices bounced on Monday from last week’s losses, boosted by reports that the United States and China could soon reach a formal agreement to end a tit-for-tat trade war that has limited global economic growth. Crude futures gave up some of their gains around midday […]
United States Oil (USO) Supply from the Organization of the Petroleum Exporting Countries fell to a four-year low in February Oil prices rose on Monday as supply tightened amid output cuts by producer club OPEC and as the United States and China were reported to be close to signing a trade deal that would end […]
United States Oil (USO) futures face headwinds as U.S.-China trade tensions persist indications that OPEC will not waiver in its bid to drain oversupply. Crude futures recovered on Wednesday after Saudi Arabia’s influential oil minister brushed off pressure from President Donald Trump to “take it easy” on price-boosting production cuts. Trump’s warning to Saudi Arabia and its fellow OPEC members caused […]
United States Oil (USO) strong exports and a whopping drop in imports has led to a sizable crude draw Oil futures rose Wednesday after Saudi Arabia affirmed its commitment to reducing output, then got an added boost after data revealed an unexpected weekly drop in U.S. crude supplies — the first decline in six weeks. […]
United States Oil (USO) U.S. President Donald Trump this week to stop artificially tightening markets Oil prices rose on Wednesday after a report of declining crude inventories in the country and as producer club OPEC seemed to stick to its supply cuts despite pressure from U.S. President Donald Trump. U.S. West Texas Intermediate (WTI) crude oil […]
United States Oil (USO) dips were a result of ample oil supply amid surging exports from the United States Oil prices fell on Monday, giving up earlier gains, squeezed by plentiful supply and US firms in particular increasing exports in competition with traditional producers from the Middle East in key markets like Asia. International Brent […]
United States Oil (USO) prices rose on Monday as Washington and China appeared to edge closer to a trade deal Oil prices rose on Monday as Washington and China appeared to edge closer to a trade deal, dampening fears over the outlook for global economic growth. International Brent crude oil futures were at $67.26 a barrel at […]
United States Oil (USO) production reached 12 million bpd for the first time last week Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets. International Brent crude futures were […]
Survey shows analysts expect EIA on Thursday to report a rise in United States Oil (USO) supplies Oil futures marked their highest finish in three months on Wednesday, with U.S. benchmark prices extending their streak of gains to a sixth consecutive session, as signs of tighter global crude supplies outweigh pressure from a continued rise […]
United States Oil (USO) ends at 3-month high as supplies tighten Crude-oil futures ended on a mixed note Tuesday, with international benchmark Brent crude slightly lower after posting gains in each of the last five sessions while the U.S. benchmark climbed to its highest finish in three months amid reports of falling Saudi Arabian exports. […]
United States Oil (USO) recovery in prices could be at a pace slower than expected earlier The oil sector has witnessed a series of developments in early 2019 that have clouded demand prospects and have sent out a signal to the market that the recovery in prices could be at a pace slower than expected […]
United States Oil (USO) warns the world against buying Venezuelan oil US National Security Advisor John Bolton has warned countries and companies against buying crude oil from Venezuela, after the Latin American country said it wants to sell more oil to the fast-growing Indian market. In a tweet with a Bloomberg article on Venezuelan-Indian oil […]
United States Oil (USO) rose on hopes that potential progress in the latest Sino-U.S. tariff talks would improve the global economic outlook Oil prices rose on Thursday, buoyed by hopes that potential progress in the latest Sino-U.S. tariff talks would improve the global economic outlook, and as China’s trade figures including crude imports beat forecasts. […]
United States Oil (USO) production expected to hit records this year U.S. oil production is anticipated to break records in the next two years — and prices are primed to increase slightly, according to an energy study released Tuesday. The Energy Information Administration (EIA) said Tuesday that crude oil production is expected to rise to an […]
United States Oil (USO) prices logged their lowest finish in two weeks Benchmark U.S. oil prices logged their lowest finish in two weeks on Monday, weighed down by worries about energy demand and a stronger dollar. Prices, however, finished off the session’s worst levels. John Caruso, senior market strategist at RJO Futures, said the market […]
United States Oil (USO) energy firms last week increased the number of oil rigs operating for the second time in three weeks Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns. In […]
United States Oil (USO) and natural gas rig count inched up by one rig week on week to 1,114 The US oil and natural gas rig count inched up by one rig week on week to 1,114, rising for the second week in a row after a relatively lengthy prior period of declines, according to […]
United States Oil (USO) production levels in the country stayed at record levels U.S. oil prices dipped on Thursday after U.S. crude inventories rose and as production levels in the country stayed at record levels, but OPEC-led supply cuts and the crisis in Venezuela supported markets. U.S. West Texas Intermediate (WTI) crude futures were at […]
United States Oil (USO) production has become a major factor in world supply During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent, an intense volatility that analysts warn could be the new normal in the oil market. December was a real […]
United States Oil (USO) expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC U.S. oil prices inched up on Tuesday, buoyed by expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC. U.S. West Texas Intermediate (WTI) crude futures were at $54.77 per barrel at 0223 GMT, up […]
United States Oil (USO) OPEC oil supply fell in January by the largest amount in two years Oil prices prices were stable on Monday, largely maintaining gains from the previous session as OPEC-led supply cuts and U.S. sanctions against Venezuela provided the market with support. International Brent crude oil futures were at $62.76 per barrel at 0507 […]
United States Oil (USO) Sanctions On Venezuela Could Be An Energy Windfall For India And China Oil sanctions imposed by the U.S. on Venezuela earlier this week could prove to be an energy windfall for India and China. The Trump Administration announced sanctions against Venezuela’s state-owned oil company, Petróleos de Venezuela, S.A., or PDVSA, targeting […]
United States Oil (USO) prices settle at a more than 2-month high Oil futures climbed Wednesday, with U.S. prices settling at their highest in more than two months as political turmoil in Venezuela raised the possibility of tighter global supplies and weekly U.S. crude stockpiles rose less than expected. March West Texas Intermediate oil CLH9, +0.55% rose 92 cents, or […]
United States Oil (USO) Rebounds Following U.S. Sanctions Against Venezuela Energy stocks are higher in the pre-market along with stronger oil prices and higher equities futures following strong earnings reports from several bellwether companies. Both WTI and Brent oil prices are up 1% rebounding slightly from yesterday’s losses supported by announcement of US sanctions against Venezuela’s oil […]
United States Oil (USO) Washington imposed sanctions on Venezuelan state-owned oil firm PDVSA Oil prices crept up on Tuesday after Washington imposed sanctions on Venezuelan state-owned oil firm PDVSA in a step set to severely curb the OPEC member’s crude exports to the United States. Despite the move, which comes as the U.S government looks […]
United States Oil (USO) falls on increased U.S. rig count Oil prices fell by 1 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, and China, the world’s second-largest oil user, reported additional signs of an economic slowdown. U.S. crude oil futures […]
United States Oil (USO) United States is set to produce more oil and liquids than Russia and Saudi Arabia combined by 2025 In a major shift, the United States is set to produce more oil and liquids than Russia and Saudi Arabia combined by 2025. In Rystad Energy’s base case oil price scenario, US liquids production is […]
United States Oil (USO) market players looked ahead to the release of fresh weekly data Oil prices rebounded from the prior day’s losses on Wednesday, as market players looked ahead to the release of fresh weekly data on U.S. commercial crude inventories. U.S. West Texas Intermediate crude futures for March delivery on the New York Mercantile Exchange […]
United States Oil (USO) from shale basins to rise to 8.179 mln bpd in Feb U.S. oil output from seven major shale formations is expected to rise by 63,000 barrels per day (bpd) in February to 8.179 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday. The largest change is […]
United States Oil (USO) U.S. Drilling Slows Down Oil prices were up early on Monday, steadying at a two-month high last seen in mid-November, as the plunging U.S. rig count last week signaled a slowdown in shale drilling amid the lower price of oil. At 10:34 EST on Monday, WTI Crude was up 0.44 percent at […]
United States Oil (USO) prices are being supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) Oil prices rose to their highest for 2019 on Monday after data showed refinery processing in China, the world’s second-largest oil consumer, climbed to a record in 2018, despite a slowing economy last year. […]
United States Oil (USO) DOI now reports that domestic crude production could surge to 14 MMbpd by 2020 U.S. crude oil exports have soared due to a combination of: rising domestic crude oil production high but flat domestic demand a law change in December 2015 that allowed sales beyond just neighbor Canada Since the shale […]
United States Oil (USO) Saudi Arabia’s energy minister said he was sure inventories will start to “return to normal averages and this will increase confidence” Oil steadied near $52 a barrel in New York amid signs that crude inventories fell again in the U.S., the world’s biggest consumer. Futures slipped 0.3 percent after settling 3.2 […]
United States Oil (USO) U.S. will make major strides towards energy independence The U.S. will make major strides towards energy independence in the next two years as oil production and exports hit new highs, according to the Department of Energy. U.S. oil production, already at an all-time high this year, will increase by another 2 […]
United States Oil (USO) darkening economic outlook capped gains Oil prices rose 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook capped gains. International Brent crude oil futures were at $59.64 per barrel at 0257 GMT, up 65 cents, or 1.1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures […]
United States Oil (USO) production growth to slow in 2019 versus 2018 Except for an OPEC-induced dip in production in 2016, U.S. oil production has risen like a rocket since 2011. None of those years was bigger than 2018, when domestic oil production rose by 1.5 million barrels per day (BPD). In the six of […]
United States Oil (USO) Government data shows vast stockpiles of gasoline and other fuel in the United States Oil prices ticked higher on Thursday, extending a winning streak into a ninth session, with gains capped by the lack of any clear resolution to U.S.-China trade talks and weak Chinese economic data. U.S. West Texas Intermediate (WTI) […]
United States Oil (USO) U.S.-China trade dispute and the soaring U.S. oil production are the key concerns for the oil market The U.S.-China trade dispute and the soaring U.S. oil production are the key concerns for the oil market this year, according to Suhail Al Mazrouei, the Energy Minister of the United Arab Emirates (UAE), […]
United States Oil (USO) hopes that Washington and Beijing can resolve a trade dispute Oil prices rose on Wednesday, extending gains from the previous session on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown. U.S. West Texas Intermediate (WTI) crude oil futures were at $50.29 per barrel as […]
United States Oil (USO) OPEC-led supply cuts tightened markets Oil prices rose on Tuesday on hopes that U.S.-Chinese talks in Beijing would bring a halt to trade disputes between the world’s biggest economies, while OPEC-led supply cuts tightened markets. International Brent crude futures LCOc1 were at $57.77 per barrel at 0113 GMT, up 44 cents, […]
United States Oil (USO) optimism that talks could soon resolve the trade war Oil prices rose by more than 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market. Brent crude futures were at $57.75 […]
United States Oil (USO) 2019 Overall, the bias in prices is: Downwards. Note: this chart shows extraordinary price action to the downside. The projected upper bound is: 13.66. The projected lower bound is: 4.07. The projected closing price is: 8.86. Candlesticks A black body occurred (because prices closed lower than they opened). During the past […]
United States Oil (USO) global oversupply and economic worries weigh on sentiment Oil prices rebounded on Friday, clawing back some of the ground lost this week, but remained close to their lowest levels in more than a year as rising U.S. inventories and concern over global economic growth kept markets under pressure. Brent crude oil was up $1.20, or […]
United States Oil (USO) worries over a glut in crude supply Oil fell on Thursday after soaring 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices even as a stock market surge offered support. Brent crude oil futures were down 8 […]
United States Oil (USO) plunge to their lowest levels in over a year Oil prices plunged to their lowest levels in over a year on Thursday, deepening a sell-off fueled by concerns about oversupply as stock markets slumped on rising U.S. interest rates. U.S. West Texas Intermediate crude ended Thursday’s session down $2.29, or 4.8 percent, […]
United States Oil (USO) closed higher amid falling U.S. oil inventories Crude oil prices closed higher amid falling U.S. oil inventories and a Saudi pledge to extend recent production cuts, with the latest Fed rate hike having little impact Wednesday. U.S. Oil Inventories And Production Data The Energy Information Administration’s weekly data report had little […]
United States Oil (USO) worries about oversupply and a slowing global economy U.S. oil prices rose on Wednesday to claw back part of their more than 5 percent losses from the previous session, with worries about oversupply and a slowing global economy keeping markets under pressure. U.S. crude oil had climbed 37 cents, or 0.8 percent, […]
United States Oil (USO) tumbled more than 35 percent since early October U.S. oil prices fell 1 percent on Tuesday after slipping below $50 a barrel in the previous session, with reports of a big climb in U.S. inventories and forecasts of record shale output stoking worries about oversupply. Concerns around future oil demand amid […]
United States Oil (USO) EIA confirms another inventory draw The U.S. Energy Department’s inventory release showed that crude stockpiles recorded a second straight weekly draw. The decline – though lower than anticipated – helped to prop up the commodity, which was also supported by reports of Saudi Arabia preparing to cut shipments to refiners in […]
United States Oil (USO) campaign to undermine U.S. fuel economy standards The oil industry engaged in a secret public relations campaign to undermine U.S. fuel economy standards, according to a new investigation from the New York Times. One of the main actors was the largest oil refiner in the country, Marathon Petroleum. Marathon, along with others, ran […]
United States Oil (USO) U.S. government data showed domestic crude supplies declined Oil prices gave up earlier gains Wednesday to finish a bit lower, after U.S. government data showed domestic crude supplies declined for a second week in a row, but by much less than the market expected. The Energy Information Administration reported early Wednesday […]
United States Oil (USO) United States will conclude 2018 as the world’s largest producer of crude oil U.S. crude oil output growth was expected to slow slightly for this year compared with previous forecasts, the Energy Information Administration said on Tuesday, but at a record 10.88 million barrels per day, the nation will end 2018 […]
United States Oil (USO) pressured by a weekly report from the American Petroleum Institute Oil prices were pressured by a weekly report from the American Petroleum Institute (API) that said U.S. crude inventories rose by 5.4 million barrels in the week to Nov. 30, to 448 million barrels, in a sign that U.S. oil markets […]
United States Oil (USO) expected to agree to reduce supply Oil prices soared by around 5 percent on Monday after the United States and China agreed to a 90-day truce in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in a supply cut. U.S. […]
United States Oil (USO) announcement of a 90-day pause on additional trade tariffs between China and the U.S. Oil prices surged on Monday after the United States and China agreed to a 90-day truce in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in […]
United States Oil (USO) record levels for three consecutive weeks The U.S. Energy Information Administration (EIA) estimated on Wednesday that U.S. crude oil production last week was 11.7 million barrels per day, remaining the record levels for three consecutive weeks. U.S. crude oil output for the week one year ago was 9.7 million barrels per […]
United States Oil (USO) edges lower ahead of G-20 Oil prices dipped on Tuesday, weighed down by uncertainty over the US-China trade war and signs of increased global crude production, but losses were limited by expectations that crude exporters would agree to cut output at an upcoming Opec meeting. Brent crude futures fell 27 cents […]
United States Oil (USO) weighed down by an emerging supply overhang International Brent crude oil futures LCOc1 briefly dipped below $60 per barrel before rising back to $60.33 at 0746 GMT, down 15 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $51.24 per barrel, down […]
United States Oil (USO) Global Demand Worries OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 million barrels of oil a day. “The Permian will continue to grow, and OPEC needs to learn to live with it,” said […]
United States Oil (USO) ongoing concerns about a potential glut in global supplies U.S. oil futures dropped Tuesday, with ongoing concerns about a potential glut in global supplies pushing prices to their lowest finish since October of last year. Sharp declines in U.S. benchmark stock indexes contributed to expectations of a weaker economy and a […]
United States Oil (USO) prices should be much lower based on supply Oil prices dropped again after the fifth-week loss. The price of West Texas Intermediate (WTI) for December delivery and Brent crude for January delivery lost 6.2 per cent and 4.9 per cent, respectively, during the week ending November 16. In the previous week […]
United States Oil (USO) traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply Oil prices rose on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards the end of the year. Despite that, market sentiment remains weak on signs of a demand […]
United States Oil (USO) domestic supplies rise an 8th week U.S. oil prices climbed Thursday, but finished below the session’s best level as data from the U.S. government showed that domestic-crude supplies rose more than expected and for an eighth week in a row as output reached a record. Tariq Zahir, managing member at Tyche […]
United States Oil (USO) pressured by rising supply going into a market Oil prices fell on Thursday, pressured by rising supply going into a market in which consumption is expected to slow down amid a glum economic outlook. Front-month Brent crude oil futures were trading at $65.90 per barrel at 0254 GMT, down 22 cents, […]
United States Oil (USO) officially entering a bear market Oil prices sank on Tuesday, with U.S. benchmark crude settling at its lowest year-to-date, stretching its record streak of losses to a 12th session, and global benchmark crude officially entering a bear market. Natural-gas futures, meanwhile, jumped by more than 8%, to settle at their highest […]
United States Oil (USO) potential reduction in crude output U.S. oil futures turned lower in Monday dealings, reversing course after discussions among major oil producers over a potential reduction in crude output had pulled prices higher. A lower settlement for the U.S. benchmark would mark its eleventh in a row and longest streak of session […]
United States Oil (USO) signs of deteriorating demand and rising output U.S. oil prices dropped for a ninth consecutive session on Thursday, falling into a bear market, on further signs of growing supply even as data showed record Chinese oil imports. Crude prices have plunged over the last five weeks, buffeted by October’s broader market […]
United States Oil (USO) expectations for weaker-than-anticipated global economic growth Oil prices fell on Tuesday, briefly entering a bear market, after the United States took measures to allow some of Iran’s biggest customers to continue importing its oil without violating U.S. sanctions against the Islamic Republic. The sanctions waivers have further eased concerns that the […]
United States Oil (USO) reinstated US sanctions on Iran coming into force Oil prices dropped on Monday despite the reinstated US sanctions on Iran coming into force. Donald Trump pulled the US out of the Iran nuclear deal earlier this year, and market experts had predicted that the renewed sanctions would drive oil prices up […]
United States Oil (USO) U.S. sanctions against Iran’s fuel exports softened Oil prices fell on Monday as the start to U.S. sanctions against Iran’s fuel exports was softened by waivers that will allow some countries to still import Iranian crude, at least temporarily. Front-month Brent crude futures were at $72.39 per barrel at 0142 GMT […]
United States Oil (USO) concerns over the potential for tighter crude supplies U.S. oil futures dropped below $64 a barrel on Thursday to mark the lowest settlement since early April. Further signs of growing global production continue to ease concerns over the potential for tighter crude supplies, with the official start of U.S. sanctions on […]
United States Oil (USO) should expect significant outperformance On the morning of publication of the EIA-914 and EIA PSM reports today (October 31), providing US monthly oil production data for August 2018, Rystad Energy analysis indicates that the market should expect significant outperformance of US oil production compared to the EIA’s predictions. The EIA’s current […]
United States Oil (USO) markets brace for the imposition of U.S. sanctions on Iran Oil prices rose more than 1 percent on Wednesday as markets braced for the imposition of U.S. sanctions on Iran next week and as stock markets clawed back some of their recent losses. Benchmark Brent crude oil LCOc1 was up 80 […]
United States Oil (USO) Fund managers cut bullish crude holdings to 15-month low Oil prices fell on Monday as as Russia signaled its output will remain high and concern over the global economy put crude on track for its biggest monthly fall since mid-2016. Losses were limited ahead of U.S. sanctions on Iranian exports that […]
United States Oil (USO) markets remain tense ahead of impending U.S. sanctions against Iran’s crude exports Oil prices dipped on Monday amid cautious sentiment as a plunge in financial markets last week and dollar strength early this week underscored concerns that growth may be slowing, especially in Asia’s emerging economies. Front-month Brent crude oil futures […]
United States Oil (USO) investors warming to the idea of longer-term investment Higher and more stable oil prices, corporate restructurings, and investors warming to the idea of longer-term investment sent the U.S. oil and gas deals value to a near-record US$122.8 billion in the third quarter of 2018, the highest deal value since a record […]
United States Oil (USO) markets remain cautious ahead of U.S. sanctions on Iran’s crude exports Oil prices fell by around one percent on Thursday, coming under pressure from sharp selloffs in global stock markets, with U.S. stocks posting the biggest daily decline since 2011 to wipe out the year’s gains. Front-month Brent crude oil futures […]
United States Oil (USO) Iran sanctions return to focus Oil prices on Wednesday clawed back some of their hefty losses from the day before as the looming U.S. sanctions against Iran came back into focus. Front-month Brent crude oil futures were at $76.76 a barrel at 0452 GMT, 32 cents, or 0.4 percent, above their […]
United States Oil (USO) Russia warned not to even consider helping Iran The United States warned Russia to not even consider helping Iran to evade the U.S. sanctions on Tehran’s oil, a senior U.S. Administration official told the Financial Times. “Iran might be pushing the idea of Russia selling their oil on the world market to […]
United States Oil (USO) Sets New Record For Oil Production The American Petroleum Institute’s latest monthly statistical report shows the U.S. produced a record 11.0 million barrels of crude oil per day (mb/d) in September. U.S. liquid fuels production grew 2.2 mb/d year-over-year (y/y), and the U.S. met virtually all global oil demand growth. As […]
United States Oil (USO) Cartel issues internal warning as oil prices slide Rising crude oil inventories and increased output in the U.S. could push oil prices down in the coming weeks, an internal OPEC report said Thursday. A coming “seasonal scale back in refinery demand…could result in oil stock builds,” said an internal market report, […]
United States Oil (USO) U.S. benchmark ending below $70 a barrel Oil futures dropped Wednesday, with the U.S. benchmark ending below $70 a barrel for the first time in more than three weeks, as U.S. government data revealed a sizable climb in domestic crude supplies for a fourth week in a row. November West Texas […]
United States Oil (USO) tensions between the U.S. and Saudi Arabia The U.S. oil benchmark edged higher on Tuesday, finding support as traders watched developments tied to tensions between the U.S. and Saudi Arabia over a missing Saudi journalist, which could lead the Saudis to curtail crude output. Prices also got a boost after S&P […]
United States Oil (USO) recoups Friday’s losses and then some Oil futures pared earlier gains on Monday to settle modestly higher as tensions between the U.S. and Saudi Arabia linked to a missing dissident journalist appeared to ease. Worries about outlook for crude demand also kept price gains in check, analysts said. November West Texas […]
United States Oil (USO) Iran’s President Seeks to Downplay US Oil Sanctions Iran says it has no concerns over the potential impacts of returning US sanctions on its oil exports given that it is already selling its crude oil higher than the price tag it has set in its annual budget plan. Iran’s First Vice […]
United States Oil (USO) Chinese buyers shy away from U.S. crude Although the Chinese government has not yet gone so far in the ever-escalating trade war as to sanction United States oil, imports are drying up anyway as Chinese buyers shy away from U.S. crude. According to U.S. Census Bureau data released last week, for […]