United States Oil (USO) prices are delicately balanced between competing forces Oil prices have generally tracked risk appetite so far this week, dropping sharply on Monday before recovering over the last three days. Wednesday’s rally was supercharged by escalating geopolitical tensions in the Middle East; when asked whether the U.S. would go to war with […]
United States Oil (USO) risks of a slower global economy due to trade wars is acting as a counterweight on crude If not for the trade war, both oil and gasoline prices could be much higher than they are now on rising tensions between the U.S. and Iran. Analysts say oil could be more than […]
United States Oil (USO) API reportedly showed a stockpile increases of 567,000 barrels The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 8.6 million barrels for the week ended May 10, according to sources. The API also reportedly showed a stockpile increases of 567,000 barrels in gasoline and 2.2 million barrels […]
United States Oil (USO) investors and traders fretted over global economic growth prospects Oil futures were mixed on Monday, with U.S. crude edging lower, as investors and traders fretted over global economic growth prospects amid a standoff in Sino-U.S. trade talks. U.S. West Texas Intermediate (WTI) futures were at $61.58 per barrel, down 9 cents, or 0.2% at […]
United States Oil (USO) escalation in the Sino-American trade spat raising the potential to dent energy demand U.S. crude-oil prices declined Thursday, while global benchmark prices ended a few pennies higher, with escalation in the Sino-American trade spat raising the potential to dent energy demand. Those concerns have more than offset the price-supportive weekly decline […]
United States Oil (USO) sanctions on oil exporters Iran and Venezuela kept markets on edge while concerns that an escalating Sino-U.S. trade dispute could slow the global economy Oil prices were mixed on Tuesday as U.S. sanctions on oil exporters Iran and Venezuela kept markets on edge while concerns that an escalating Sino-U.S. trade dispute […]
United States Oil (USO) Output cuts from Opec likely to continue till end of 2019 Oil prices are expected to trade positive in the near term on the back of Opec production cuts as well as supply disruptions in Iran and Venezuela, analysts said. However, rise in US oil production will continue to weigh on […]
Venezuelan President Nicolas Maduro is facing growing pressure as the United States enforces sanctions on United States Oil (USO) exports US sanctions came into effect Sunday to block Venezuela’s economic lifeline of oil exports, in what Washington hopes will be a major blow in its fledgling campaign to topple leftist President Nicolas Maduro. As of […]
United States Oil (USO) Iran-pegged crude supply worries persist U.S. oil prices finished lower on Thursday, and Brent prices gave up earlier gains to settle lower for the first time in five sessions, with both crude benchmarks marking a retreat from the nearly six-month highs they reached earlier this week. Traders continued to consider the […]
United States Oil (USO) dipped as record U.S. output and rising crude stockpiles dampened the impact on markets of tighter U.S. sanctions Oil prices dipped on Thursday as record U.S. output and rising crude stockpiles dampened the impact on markets of tighter U.S. sanctions on Iran and producer club OPEC’s continued curbs on supply. Brent […]
United States Oil (USO) US secretary of state Mike Pompeo tells the world to ‘err on the side of caution’ over buying oil from Iran Oil prices surged to their highest level in six months on global commodity markets after the US said it would take a harder line against countries that breach its oil […]
United States Oil (USO) US crackdown on Iran exports US oil prices raced above US$65 (AUD$91) a barrel for the first time since October after the White House pledged to deepen its crackdown on Iran. The Trump administration vowed to bring Iran’s oil exports to “zero” by removing the waivers that previously allowed some countries […]
United States Oil (USO) ongoing supply cuts led by producer club OPEC Oil prices rose early on Monday, with Brent hitting its highest level since November, driven up by a decline in U.S. drilling activity and ongoing supply cuts led by producer club OPEC. Brent crude futures were at a November 2018 high of $72.58 […]
United States Oil (USO) could see a short-term correction U.S West Texas Intermediate and international-benchmark Brent crude oil futures settled higher last week, but the limited trading range suggests the buying may be slowing. Early in the week, prices rose to their highest levels since November, driven by turmoil in Libya along with ongoing production […]
United States Oil (USO) prices firm supported by ongoing supply cuts Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela. International Brent crude oil futures were at $71.01 per barrel at 0042 GMT, up 18 cents, or 0.3 percent, from […]
United States Oil (USO) sanctions against Iran and Venezuela were also seen pushing up crude prices Oil prices rose to a five-month high on Monday, driven by expectations for tighter global supply from fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela. International benchmark Brent futures were up 69 cents, or 1%, at $71.03 […]
United States Oil (USO) Eyes Glued on Dow and Risk The U.S. oil and gas industry is praised by supporters for boosting America to the forefront of global production and attacked by critics who blame it for sowing doubt about the scientific consensus that burning fossil fuels is changing the Earth’s climate. The American Petroleum […]
United States Oil (USO) prices have been underpinned by tightening global supplies and signs of demand picking up Brent oil prices rose on Thursday, topping $70 per barrel for the first time in nearly five months, as expectations of tight global supply outweighed pressure from rising U.S. production and less robust global demand indicators. Brent […]
United States Oil (USO) production hits fresh peak U.S. crude oil stockpiles soared unexpectedly last week as imports climbed and production edged higher to a new record, the Energy Information Administration said on Wednesday. Refined fuel inventories fell more than expected, with gasoline drawing down for a seventh straight week, as refining rates remained low, […]
United States Oil (USO) concerns about supplies outweigh fears of a slowing global economy Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy. U.S. West Texas Intermediate (WTI) futures […]
United States Oil (USO) demand concerns on the back of economic jitters linked to the U.S.-Chinese trade war have capped prices Oil prices settled roughly flat on Thursday, recovering from the day’s worst losses that came shortly after U.S. President Donald Trump called for OPEC to boost crude production to lower prices. “Very important that […]
United States Oil (USO) extending the previous session’s rise Oil prices crept up on Wednesday, extending the previous session’s rise, but gains were kept in check amid growing fears over the impact of a global economic slowdown on demand. Brent was up by 17 cents, or 0.3 percent, at $68.14 by 0311 GMT, reversing earlier losses […]
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) 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) 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) 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) 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 […]
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) 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) 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) 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) 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) 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) 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) 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) 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 […]