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 […]
United States Oil (USO) lowest in nearly two weeks The U.S. oil benchmark fell on Wednesday to settle at its lowest in nearly two weeks. Some traders played down the likely impact of Hurricane Michael on oil and natural-gas production in the Gulf of Mexico region. Oil prices may have also been dragged down as […]
United States Oil (USO) Demand is still very strong Crude rose as storm Michael strengthened and shut some U.S. oil output, while the International Energy Agency called on producers to pump more as the market is “entering the red zone.” Futures in New York rose 0.6 percent. Michael, currently a category 1 storm, is strengthening […]
United States Oil (USO) U.S. waivers on Iran sanctions Oil futures ended lower Monday on reports that the Trump administration was softening its hard line on Iran crude exports and might allow waivers for some buyers when sanctions against the Islamic Republic’s crude exports go back into effect in November. Oil prices had seen steeper […]
United States Oil (USO) development on the impending U.S. sanctions on Iran To be honest, I’m still not 100% sold on Apple (NASDAQ:AAPL) despite the huge rally in Apple stock of late. The AAPL stock price has risen 49% over the past year, adding over $360 billion in market value. The catalysts for the rally […]
United States Oil (USO) Decline in Iranian exports Crude oil prices in the U.S. and around the world continued their upward swing this week. U.S. oil prices on the New York Mercantile Exchange broke through the $75 per barrel mark and the $85 mark for Brent traded in London. News of sharp declines of oil […]
United States Oil (USO) climbs back to a nearly 4-year high Oil futures rallied on Wednesday as reported declines in Iranian exports due to pending U.S. oil sanctions, and uncertainty surrounding the ability of other major oil producers to make up for the loss, lifted U.S. and global prices back to nearly four-year highs. The […]
United States Oil (USO) markets preparing for tighter supply US oil prices hit their highest level since November 2014 on Tuesday and Brent crude was also near a four-year peak reached the previous day, with markets preparing for tighter supply once US sanctions against Iran kick in next month. US West Texas Intermediate (WTI) crude […]
United States Oil (USO) surges above $75 U.S. crude prices surged on Monday, hitting a nearly four-year high on signs that sanctions are shrinking Iranian crude exports and as North American trade tensions ease. Rising oil prices threaten to cut oil demand in emerging economies. This could trigger inflation. This could trigger substitution of other […]
United States Oil (USO) higher during mid-morning trade in Asia China’s export orders shrank in September as a tariff battle with Washington over technology escalated, adding to downward pressure on the world’s No. 2 economy, two surveys showed Sunday. The reports add to signs Chinese trade, which had held up despite U.S. President Donald Trump’s […]
United States Oil (USO) global benchmark’s price notching another four-year high at the settlement Oil climbed on Thursday, with the global benchmark’s price notching another four-year high at the settlement, as U.S. officials said the sale of domestic reserves wouldn’t be used to undercut a rally in crude. Anticipation of supply disruptions caused by the […]
United States Oil (USO) futures climb as much as 1.4% Oil surged on prospects of a supply crunch after the U.S. ruled out the release of emergency crude reserves, adding to concerns over potential losses in Iranian supplies. Futures in New York climbed as much as 1.4 percent. Prices on Wednesday pared declines after U.S. Energy Secretary […]
United States Oil (USO) headed lower U.S. oil prices headed lower in the electronic trading session Tuesday after the American Petroleum Institute reported that U.S. crude supplies rose by 2.9 million barrels for the week ended Sept. 21, according to sources. The API data also showed supplies of gasoline up 949,000 million barrels, but distillates […]
United States Oil (USO) demand for oil in OECD countries would fall from the early 2020s The OPEC oil cartel raised its global production forecast this weekend based on higher-than-predicted US output in a report outlining a long-term rise in net demand, particularly in developing countries. In its annual World Oil Outlook, the Organisation of […]
United States Oil (USO) more gains seen Oil prices rose 2 percent on Monday as U.S. sanctions restricted Iranian crude exports, tightening global supply, with some traders forecasting a spike in crude to as much as $100 per barrel. Brent crude hit its highest since May at $80.47 per barrel, up $1.63 or more than […]
United States Oil (USO) looking for alternative oil supplies The United States—which is pushing to have all Iranian oil customers stop importing crude from Tehran—is looking for alternative oil supplies for its allies whose imports will be disrupted by the U.S. sanctions on Iran. While during the previous U.S. and EU sanctions on Iran between […]
United States Oil (USO) signs OPEC may not raise output Oil rose for a third day on Thursday amid another drawdown in U.S. inventories and strong U.S. gasoline demand, while signs OPEC may not raise output to address shrinking supplies from Iran also supported prices. U.S. sanctions affecting Iran’s oil exports come into force on […]
United States Oil (USO) prices pulled back from gains racked up in the previous session Oil prices on Wednesday pulled back from gains racked up the previous day, pushed down amid a surprise climb in U.S. crude stockpiles. Brent crude futures had dropped 22 cents, or 0.28 percent, to $78.81 per barrel by 0042 GMT, chipping […]
United States Oil (USO) lower as trade tensions heightened between the US and China Crude oil futures were lower in mid-morning trade in Asia Tuesday as trade tensions heightened between the US and China, shrugging off analyst expectations of a further draw in US crude stocks. The heightened tension over US-China tariffs saw the market […]
United States Oil (USO) Uncertainty prevails over how many countries will stop importing oil from Iran Brent, the international benchmark for crude oil, could to rise above $85 per barrel in the coming months due to a combination of US sanctions on Iran and a potential Opec supply crunch, analysts say. West Texas Intermediate (WTI), […]
United States Oil (USO) United States this year became the largest crude oil producer The United States this year became the largest crude oil producer, surpassing Russia and Saudi Arabia, according to preliminary estimates from the Energy Information Administration. Although following the June 22 agreement between OPEC and Russia to up production to rein in prices Russia […]
United States Oil (USO) prices slip as economic growth concerns counter tighter supplies Falling U.S. crude inventories helped push oil back over $70 a barrel Wednesday. Crude stockpiles fell by 5.3 million barrels last week, a decline that was only partially offset by a 1.3 million increase in gasoline inventories, the Energy Department reported. But […]
United States Oil (USO) Market eyes Hurricane Florence as it approaches the U.S. East Coast Crude-oil futures rallied Tuesday, finding support as a major hurricane approaching the U.S. East Coast boosted demand for fuel and threatened the flow of gasoline through a key pipeline. The U.S. government also cut its forecasts for domestic production and […]
United States Oil (USO) South Korea first country to comply with the U.S. sanctions on Iran South Korea has become the first of Iran’s top-three oil customers to fulfill a hard-line U.S. demand that buyers cut imports to zero. The Asian nation didn’t import any crude from Iran last month, compared with 194,000 barrels a […]
United States Oil (USO) Washington’s sanctions against Iran’s crude exports kick in Oil prices rose on Monday as U.S. drilling for new production stalled and as the market eyed tighter conditions once Washington’s sanctions against Iran’s crude exports kick in from November. U.S. West Texas Intermediate (WTI) crude futures were at $68.19 per barrel at […]
United States Oil (USO) prices rose on Friday after U.S. crude inventories fell to their lowest levels since February Oil prices rose on Friday after U.S. crude inventories fell to their lowest levels since February 2015. U.S. West Texas Intermediate (WTI) crude futures were at $67.90 per barrel at 0056 GMT, up 13 cents, or […]
United States Oil (USO) emerging market turbulence’s weighed on sentiment U.S. sanctions against Iran, however, prevented prices from falling further as they are expected to tighten the market after being implemented from November, traders said. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $68.59 per barrel at 0645 GMT, down 13 cents, or […]
United States Oil (USO) prices rise as Gulf oil rigs evacuated ahead of hurricane U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane. U.S. West Texas Intermediate (WTI) crude futures were at $70.05 per barrel at 0353 GMT, up […]
United States Oil (USO) extending gains on growing evidence of disruptions Brent crude oil LCOc1 rose 63 cents a barrel to settle at $77.77. U.S. crude CLc1 settled 74 cents higher at $70.25 a barrel, after earlier hitting a session high of $70.50. Both contracts were at their highest in more than one month. A […]
United States Oil (USO) got additional support today from the declining inventories across the board Oil prices rose more than 1 percent on Wednesday, with Brent at its highest in seven weeks and U.S. crude touching a three-week peak, supported by a drawdown in U.S. crude and gasoline stocks and reduced Iranian crude shipments as […]
United States Oil (USO) slips on rising U.S. supply Crude oil futures were stable to slightly lower in mid-morning trade in Asia Wednesday after the release of mildly bearish US inventory data and the suspension of strike action in the North Sea. US crude stocks rose 38,000 barrels in the week ended August 24, according […]
United States Oil (USO) prices extend gains amid weaker U.S. dollar Oil prices kept rising on Monday as a weaker U.S. dollar made the dollar-priced commodity more attractive for holders of other currencies. The U.S. dollar retreated further on Monday amid reports that the United States and Mexico struck a trade deal that might pave […]
United States Oil (USO) dipped slightly on Monday on concerns about US-China trade dispute Oil prices fell on Monday on concerns the U.S.-China trade dispute will erode global economic growth, although looming U.S. sanctions against Iran’s oil sector kept crude from falling further, traders said. Washington will target Iran’s oil exports with sanctions from November. […]
United States Oil (USO) continues to stagger forward without direction The oil market continues to stagger forward without direction, and the EIA data is offering little clarity. Just last week, the EIA reported a sharp build up in crude oil inventories, raising concerns about over supply. But inventories have seesawed back and forth for much […]
United States Oil (USO) Prices Jump On Steep Inventory Drop Donald’s Trump’s sanctions would drive Iranian oil exports down in order to force behaviour change on Tehran regime. The US is prepared to use sanctions to drive Iranian oil exports down to zero, the US national security adviser, John Bolton, has said. “Regime change in […]
United States Oil (USO) rises on U.S. crude inventories The U.S. plans to release 11 million barrels of oil from its 660-million-barrel emergency stockpile, just as American sanctions on Iranian oil exports kick in. The sour, high-sulfur crude will hit the market in October and November, according to a notice of sale from the Energy […]
United States Oil (USO) mixed on expected US stock draw Crude oil futures were mixed during mid-morning trade in Asia Tuesday, with the NYMEX WTI contract ticking up on expected US crude stock draws while the ICE Brent contact edged lower on indications of supply increases elsewhere. Analysts surveyed Monday by S&P Global Platts were […]
United States Oil (USO) concerns of slowing economic growth Oil prices plunged on Wednesday after government data showed a big, unexpected jump in stockpiles of U.S. crude, compounding pressure as the outlook for global economic growth darkened and the stock market slumped. U.S. light crude ended Wednesday’s session down $2.03 a barrel, or 3 percent, […]
United States Oil (USO) production set new records U.S. crude oil inventories grew by 6.8 million barrels in the week ending Aug. 10 even as refineries consumed 18 million barrels of oil a day. Oil stockpiles increased to 414.2 million barrels, about one percent above the five year average for this time of the year, […]
United States Oil (USO) China Market Critical for US Oil New Chinese tariffs are set to affect a wide array of refined products and plastics exports from Houston, but for now crude oil and liquefied natural gas exports are exempted. Oil traders said they see the removal of US crude from the tariff list as […]
United States Oil (USO) market has experienced a “cooling down” this summer The oil market has experienced a “cooling down” this summer as global supply disruptions have eased at a time when demand has also slowed a bit, according to a new report from the International Energy Agency (IEA). But that pause may only be […]
United States Oil (USO) could be the next casualty in US-China trade war Oil prices rose on Thursday, reversing course after falling to the lowest point in six weeks overnight. The VLCC Tianjin left the Corpus Christi lightering zone in the Gulf of Mexico on June 19 with nearly 2.1 million barrels of US WTI/Midland […]
United States Oil (USO) not be growing quite as fast as everyone thinks U.S. oil prices settled lower on Tuesday, contributing to a loss for the month of July. Prices on Tuesday saw pressure as concerns about Iranian oil eased back, even as President Donald Trump’s willingness to meet Iran’s president was not expected to […]
United States Oil (USO) marginally higher during mid-morning trade in Asia Monday This oil market is filled with a variety of bearish factors: rising U.S. production, rising Saudi production, an emerging U.S.-China trade war, a rising dollar, potential tapping of the U.S. Strategic Petroleum Reserve, a Brazil oil industry that is stronger than being reported, […]
United States Oil (USO) larger-than-expected drop in weekly inventories Oil ended higher on Wednesday, with the U.S. benchmark extending gains after a larger-than-expected drop in weekly inventories. Futures rose as much as 0.6 percent in New York after adding 0.9 percent on Tuesday. U.S. inventories of crude, gasoline and distillates fell last week, the American […]
United States Oil (USO) focus turned to oversupply worries Oil prices edged lower on Monday as the focus turned to oversupply worries, moving away from escalating tensions between the U.S. and Iran, which had driven prices higher early in the session. There’s a lot of uncertainty in oil right now, which can cause some of […]
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 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 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 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 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 […]
US Crude Oil ‘May’ Surge to $80 bbl this Summer $USO U.S. oil Opens a New Window. may reach $80 per barrel this Summer, a 10 percent jump from current levels, according to Oil Price Information Service’s Tom Kloza, who also expects global prices to rise in tandem. I wouldn’t be surprised to see Brent […]
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 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 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 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) exports boom to record level U.S. oil exports reached a record 3 million barrels a day last week— a greater amount than is pumped each day by all but three OPEC countries. When combined with fuel products, like diesel and gasoline, U.S. oil and related products exports totaled 8.5 million barrels […]
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 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 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 ‘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) Sees Large Decrease in Short Interest United States Oil Fund LP (NYSEARCA:USO) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 48,142,731 shares, a drop of 18.6% from the May 15th total of 59,109,944 shares. Based on an average […]
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 […]