United States Oil (USO) closing below a key short-term level

United States Oil (USO) closing below a key short-term level

United States Oil (USO) closing below a key short-term level Crude-oil prices early Monday were trading sharply lower, with the U.S. benchmark on track to drop beneath a key short-term level that could imply near-term momentum for the commodity is eroding. August West Texas Intermediate crude CLQ8, -0.15% was trading at $69.56 a barrel, off […]

World’s Biggest Oil (USO) Traders are Counting Hefty Losses

World’s Biggest Oil (USO) Traders are Counting Hefty Losses

World’s Biggest Oil (USO) Traders are Counting Hefty Losses The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production upends the market. Trading desks of oil major BP and merchants Vitol , Gunvor […]

United States Oil (USO) holds ground at a more than 2-week low

United States Oil (USO) holds ground at a more than 2-week low

United States Oil (USO) holds ground at a more than 2-week low Oil settled on a mixed note Thursday, with U.S. benchmark prices posting a slight decline but global benchmark prices rebounding from the three-week low they hit a day earlier. A monthly report from the International Energy Agency hinted at an coming slowdown in […]

United States Oil (USO) prices lose 5%, drop back toward $70 a barrel

United States Oil (USO) prices lose 5%, drop back toward $70 a barrel

United States Oil (USO) prices lose 5%, drop back toward $70 a barrel U.S. oil prices dropped back toward $70 a barrel on Wednesday, losing 5% to finish at their lowest in over two weeks. The Energy Information Administration reported that U.S. crude supplies sank 12.6 million barrels last week. The news, however, failed to […]

A Storm Is Brewing For U.S. Oil (USO) Exports

A Storm Is Brewing For U.S. Oil (USO) Exports

A Storm Is Brewing For U.S. Oil (USO) Exports Two geopolitical developments in recent weeks—U.S. sanctions on Iran and the escalating U.S.-Chinese trade war—are set to reshuffle the U.S. oil flows to the world’s fastest-growing oil market, Asia. On the one hand, the United States is pressing Iran’s oil customers to cut their Iranian crude […]

United States Oil (USO) down after EIA reports surprise weekly climb in U.S. crude supplies

United States Oil (USO) down after EIA reports surprise weekly climb in U.S. crude supplies

United States Oil (USO) down after EIA reports surprise weekly climb in U.S. crude supplies U.S. stockpiles of crude oil unexpectedly rose by a bit last week, although the increase was largely offset by a decline in refined gasoline supplies. Commercial crude inventories jumped by 1.2 million barrels last week after trade groups and analysts […]

Oil and The New World Order

Oil and The New World Order

Oil and The New World Order The leading Iranian Revolutionary Guard commander on Wednesday offered his nation’s moderate President a rare endorsement after Hassan Rouhani called US attempts to block Iranian oil exports “pointless.” Qasem Soleimani, who heads Iran’s elite Quds Force and rarely makes public statements, said he would “kiss” Rouhani’s hand after the […]

United States Oil (USO) Stable but Expected to Rise

United States Oil (USO) Stable but Expected to Rise

United States Oil (USO) Stable but Expected to Rise Gas price declines have begun to slow in the last week with the national average unchanged at $2.85 per gallon today according to GasBuddy data compiled from over 10 million price reports from over 135,000 stations in the last week. While average gas prices remain lower […]

United States Oil (USO) prices hit multi-year high on concern over Iran sanctions

United States Oil (USO) prices hit multi-year high on concern over Iran sanctions

United States Oil (USO) prices hit multi-year high on concern over Iran sanctions US oil prices rose to a three-and-a-half-year high on Thursday, bolstered by supply concerns due to US sanctions that could cause a large drop in crude exports from Iran. US West Texas Intermediate (WTI) crude futures rose 84c to $73.61 a barrel, […]

United States Oil (USO) The Winners And Losers Of The OPEC Decision

United States Oil (USO) The Winners And Losers Of The OPEC Decision

United States Oil (USO) The Winners And Losers Of The OPEC Decision OPEC members met on Jun 22 to discuss the feasibility of an output boost proposal. Though no concrete figures have been provided, OPEC will now return to 100% agreement to the previously agreed output cuts. Saudi Arabia said the renewed deal will result […]

United States Oil (USO) The OPEC Agreement Puts A Floor Under Oil Prices

United States Oil (USO) The OPEC Agreement Puts A Floor Under Oil Prices

United States Oil (USO) The OPEC Agreement Puts A Floor Under Oil Prices Since its December 2016 oil production-cut deal came into effect, the Organisation of Petroleum Exporting Countries (OPEC) has seen crude oil prices more than double, following the market rebound from the lows of early 2016. Due to the global anticipation of the […]

United States Oil (USO) Price Rises on Drop in Inventories, Ignoring Big Increases in Gas, Diesel Stocks

United States Oil (USO) Price Rises on Drop in Inventories, Ignoring Big Increases in Gas, Diesel Stocks

United States Oil (USO) Price Rises on Drop in Inventories, Ignoring Big Increases in Gas, Diesel Stocks The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories decreased by 5.9 million barrels last week, maintaining a total U.S. commercial crude inventory of 426.5 million barrels. […]

United States Oil (USO) Steep Oil and Strong Dollar Make Toxic Brew for Global Economies

United States Oil (USO) Steep Oil and Strong Dollar Make Toxic Brew for Global Economies

United States Oil (USO) Steep Oil and Strong Dollar Make Toxic Brew for Global Economies ‘Brutal’ rally in dollar-priced crude hammers governments, strains consumers from U.K. to Brazil. For Americans, rising oil prices are threatening $3-a-gallon gasoline and pushing up prices for plane tickets. In many other parts of the world, today’s crude rally is […]

United States Oil (USO) Up as Petroleum Inventories Take a Surprise Dive

United States Oil (USO) Up as Petroleum Inventories Take a Surprise Dive

United States Oil (USO) Up as Petroleum Inventories Take a Surprise Dive The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories decreased by 4.1 million barrels last week, maintaining a total U.S. commercial crude inventory of 432.4 million barrels. The commercial crude inventory remains […]