$USO #Oil #Production #USA #Markets #Trading #Commodities United States OilTicker: USOPrice: $29.86 US Oil News The U.S. oil industry probably passed the low point in the current cycle in July and August, with drilling rates set to start increasing from September or October and production turning up from March or April 2021. Since hitting a […]
United States Oil (USO) Prices Rise as OPEC Extends Record Oil Production Cuts to End-July Oil prices rose over 2% early on Monday to their highest in 3 months when OPEC and its allies including Russia agreed to extend record oil production cuts until the end of July. Brent crude LCOc1 climbed to as high […]
United States Oil (USO) Investors Remain Skeptical Investors have abandoned oil at warp speed so far this year as futures prices have fallen to record lows. Even as oil has bounced from its record trough in April, investors remain skeptical about the chances for sustained value appreciation. Shayne Heffernan Trade Idea “We expect oil will […]
United States Oil (USO) Worst Days Maybe Over Oil prices rose on Friday as more countries began easing lockdowns set in place to stop the coronavirus spreading, giving hope that demand for fuels will pick up after the economic devastation caused by the pandemic. Brent crude was up 47 cents, or 1.5%, at $29.33 a […]
A Shock Like No Other: The Impact of COVID-19 on the Oil Markets The outbreak of COVID-19 has been accompanied by widespread declines in global commodity prices. The pandemic represents a unique shock that has a major impact on both the demand and supply of commodities. Oil markets have been most affected, given the collapse […]
United States Oil (USO) – Trump has tasked Mnuchin with developing a plan to revive the industry U.S. Treasury Secretary Steven Mnuchin weighed in on how he may work to rescue the energy industry hammered by the fallout from the coronavirus, which may include the government taking stakes in certain companies. Ticker Security Last Change Change % USO […]
United States Oil (USO) – OPEC cuts fail to end the panic The coronavirus pandemic has caused oil demand to drop so rapidly that the world is running out of room to store barrels. At the same time, Russia and Saudi Arabia flooded the world with excess supply. That double black swan has caused oil prices to […]
United States Oil (USO) – President Donald Trump pulled off an energy coup In the midst of a pandemic, President Donald Trump pulled off an energy coup: He was able to convince the second and third largest crude oil producing countries to set their bickering aside and voluntarily cut production, at least for a couple of […]
United States Oil (USO) Climb on U.S. Reopening Plans Stocks pushed higher with U.S. equity futures on Friday as tentative steps toward restarting the world’s largest economy helped investors look past mixed progress on curbing the coronavirus and dismal data from China. West Texas oil slumped. Investors in risk assets are ending the week on […]
United States Oil (USO) , gas industry sheds more than 6,000 jobs in a single day Oil and gas companies announced plans to cut more than 6,400 jobs on a grim day for the industry that saw the price of crude oil settle below $20 for the first time since 2001 and the amount of […]
United States Oil (USO) falls 5% to $28 on oversupply concerns Oil fell 5% to around $28 a barrel on Wednesday, pressured by reports suggesting persistent oversupply and collapsing demand due to global coronavirus-related lockdowns. The International Energy Agency (IEA) on Wednesday forecast a 29 million barrel per day (bpd) dive in April oil demand […]
United States Oil (USO) prices rise as Trump flags deeper output cuts Oil prices rose Tuesday after US President Donald Trump said producers are considering cutting 20 million barrels per day – more than double the figure publicly announced – to help the virus-hit sector. US benchmark West Texas Intermediate rose nearly 2% to trade […]
United States Oil (USO) – OPEC and allies’ oil production cut is Trump’s ‘biggest and most complex’ deal ever As the Organization of the Petroleum Exporting Countries and its allies came to an agreement on a record cut in oil production, U.S. President Donald Trump may have struck his “biggest and most complex deal,” according to oil […]
United States Oil (USO) – Donald Trump is trying to drive up the price of oil For more than three decades, U.S. presidents proclaimed cheap fuel as an almost God-given right for American motorists and homeowners, shaping the country’s foreign policy in pursuit of lower prices. As president, Trump didn’t just back cheap crude, he […]
United States Oil (USO) state senators to talk crude markets with Saudi officials Saturday -source Republican U.S. senators who have introduced a bill that would remove U.S. defense systems and troops in Saudi Arabia unless it cuts oil output will hold a call with the kingdom’s officials on Saturday, a source familiar with the planning […]
United States Oil (USO) Prices Rally as Saudi-Russian Deal “Very, Very Close” Oil prices rallied in Asia on Tuesday from a dramatic 8%-fall in their last session. International Brent Oil Futures rose 2.43% to $34.11 by 9:52 PM ET (2:52 AM GMT) and U.S. Crude Oil WTI Futures jumped 4.1% to $27.15. Russian Direct Investment […]
United States Oil (USO) jittery as Saudi Arabia-Russia talks delayed Global oil prices remain on edge after Saudi Arabia and Russia postponed a meeting about a deal to cut output as the virus pandemic hits demand. The two countries have been locked in an oil price war for the last month. Traders are concerned that, […]
United States Oil (USO) falls on scepticism over Trump’s Saudi-Russia output deal Oil prices fell on Friday, coming off their biggest one-day gains in the previous session, after US President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce US production. Brent […]
United States Oil (USO) – Trump, Putin agree to talks on energy market stabilization Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks aimed at stabilizing energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide. Brent crude was up by 61 cents, […]
United States Oil (USO) – Ten Signs the Oil Industry is Bent Out of Shape The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals. International […]
United States Oil (USO) prices still down about 45% so far this month Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets as the United States is expected to approve a massive aid package to stem the economic impact of the coronavirus pandemic. U.S. crude rose to a high of $25.24 a barrel early […]
United States Oil (USO) – Futures market points to negative open for U.S. stock markets, oil edges lower U.S. stock markets were set to plunge at the start of the trading week as the futures market suggested a negative start to trading. The move would come after the worst week of trading for North American […]
United States Oil (USO) – President Donald Trump has ordered the Department of Energy to purchase 77 million barrels of American-made crude oil to support U.S. oil producers President Donald Trump has ordered the Department of Energy to purchase 77 million barrels of American-made crude oil to support U.S. oil producers who have hit hard […]
United States Oil (USO) – US President Donald Trump’s administration sanctioned nine entities for “trading or transporting” oil with Iran The blacklisted companies include three mainland China-based firms, three Hong Kong-based companies and one South African company. The blacklist was also extended to include two entities connected to the South African company, SPI International Proprietary […]
United States Oil (USO) hits 17-year low as lockdowns, restrictions spread Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand. U.S. crude was down $1.49 cents, or 5.53%, at $25.46 per […]
United States Oil (USO) Giants Set Health Checks for Critical Staff, Work-From-Home Rules Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits. BP, Exxon Mobil, Kinder Morgan, Motiva Enterprises […]
United States Oil (USO) ends with a loss of over 4% after Trump imposes restrictions on travel from Europe Oil futures finished sharply lower Thursday, with global benchmark prices suffering a loss of more than 7%, after President Donald Trump imposed restrictions on travel from Europe to the U.S. in an effort to contain the […]
United States Oil (USO) slumps as U.S. bans travel from Europe over pandemic Oil prices sank again on Thursday along with the broader market after the United States banned travel from Europe following a World Health Organization declaration that the coronavirus outbreak is now a pandemic. Market worries were compounded by the threat of a […]
United States Oil (USO) prices rebound 6% after rout, but outlook volatile Oil prices bounced back 7% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia. President Donald Trump on Monday said he will […]
United States Oil (USO) plunges 25% as another virus-fueled trading week begins Oil prices are plunging amid concern a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude. Brent crude, the international standard, lost $11.44, or 25.3%, to $33.83 per barrel in electronic trading in […]
United States Oil (USO) – OPEC agrees biggest oil production cut since 2008 financial crisis, but only if Russia joins The Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, has decided to cut production by up to 1.5 million barrels per day. The decision is believed to be conditional on approval from […]
United States Oil (USO) traders battered by unexpected collapse in gasoil, petrol demand Oil traders have been hit hard early in 2020, losing tens of millions of dollars on bets on gasoil price spreads due to an unexpected collapse in demand in January, sources familiar with the matter said. This happens after the industry had […]
United States Oil (USO) higher on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak Oil prices rose for a second day on Tuesday on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism […]
United States Oil (USO) prices fall as coronavirus spreads outside China with death toll at 2,900 With the viral outbreak spreading to more countries, the price of oil has dropped precipitously as global demand weakens even further. That has sent shares tumbling for oil giants like Exxon and Chevron while smaller producers with idling rigs […]
United States Oil (USO) Prices Plunged More Than 3% as Coronavirus Threat Looms Oil prices plunged more than 3% and traded near their 2017 lows as reports around the coronavirus health crisis worsened. U.S. Crude Oil WTI Futures plunged 3.1% to $45.62 by 1:35 AM ET (05:35 GMT). International Brent Oil Futures slid 2.8% to […]
United States Oil (USO) Tanks On Fears Of Global Economic Crisis Global equities fell sharply on Monday as fears over the spread of the coronavirus spiked once again, with new cases spreading beyond the borders of China. The Dow Jones plunged by more than 900 points and oil prices slumped nearly 5 percent. Several countries […]
United States Oil (USO) prices stay under pressure with increase in virus cases outside of China Oil markets will continue to remain under pressure with a rise in coronavirus cases appearing outside of China, even as the virus also continues to affect demand in China itself, analysts said. Oil prices on Friday saw Brent closing […]
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) – 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 […]