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 […]