United States Oil (USO) State Secretary Pompeo says Iran is ready to negotiate about its missile program Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% […]
United States Oil (USO) makes it to Ukraine in another blow to Moscow U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil. Ukraine this month received […]
United States Oil (USO) US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm Oil prices rose 4.5 per cent a barrel on Wednesday to their highest level in more than a month after US crude inventories shrank and as major producers […]
United States Oil (USO) concerns surrounding energy demand lingers Oil futures diverged Monday, with U.S. prices up a third straight session while global benchmark Brent finished lower, as tensions with Iran, and the possibility of disruptions to oil flow in the Middle East, increased. Concerns surrounding energy demand, however, lingered. Geopolitical tensions with Iran have […]
United States Oil (USO) very cautious open this morning supported by a better than expected non-farm payrolls Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week’s better-than-expected U.S. jobs data offered some support. Brent crude futures were […]
United States Oil (USO) weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles along with worries about the global economy Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles along with worries about the global economy. Front-month Brent crude futures, the international benchmark for oil […]
United States Oil (USO) oil prices drop by nearly 5% to their lowest in 2 weeks Oil futures dropped by almost 5% on Tuesday, settling at their lowest in roughly two weeks. “The crude oil market has quickly digested the decision by OPEC and its allies to maintain the production cuts through next March,” said […]
United States Oil (USO) steadies but oversupply fears persist Oil prices pared gains on Monday (July 1) after worries about oversupply persisted, pulling back from an early rally as Opec extended supply cuts until March 2020 during a meeting in Vienna. The Organization of the Petroleum Exporting Countries agreed on Monday to extend oil supply […]
United States Oil (USO) OPEC and its allies look set to extend oil supply cuts OPEC and its allies look set to extend oil supply cuts next week at least until the end of 2019 as Iraq joined top producers Saudi Arabia and Russia on Sunday in endorsing a policy aimed at propping up the […]
United States Oil (USO) OPEC-Russia production deal to continue OPEC ministers meet Monday, but this weekend’s G-20 leaders summit could have much more impact on oil prices, depending on whether the outcome is good or bad for the global economy — and therefore oil demand. The world’s markets are focused on Saturday’s meeting between President Donald Trump […]
United States Oil (USO) some of the advance is tied to higher crude prices ahead of the G20 meeting U.S. oil prices climbed by nearly 3% on Wednesday, as the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks. Gasoline futures also rallied on news of the planned closure […]
United States Oil (USO) Iran on Tuesday sharply criticized new U.S. sanctions U.S. oil prices fell on Tuesday, posting a modest retreat after three consecutive session gains on the back of heightened tensions between the U.S. and Iran. “Slowing global growth and tensions with Iran are having an impact on the oil markets as investors […]
United States Oil (USO) prices on the rises as tensions remain high between Iran and the United States Oil prices climbed on Monday as tensions remain high between Iran and the United States, with U.S. Secretary of State Mike Pompeo saying “significant” sanctions on Tehran would be announced. Brent futures were up 37 cents, or […]
United States Oil (USO) higher on fears of a military confrontation between Tehran and Washington Oil soared more than 5% higher yesterday after Iran shot down a US military drone, raising fears of a military confrontation between Tehran and Washington. Expectations that the US Federal Reserve could cut interest rates at its next meeting, stimulating […]
United States Oil (USO) OPEC sets new ministerial meeting dates to July 1-2 Oil futures settled modestly lower on Wednesday, giving up the gains they saw in the immediate wake of U.S. government figures that revealed a larger-than-expected drawdown in crude stockpiles, the first in three weeks. The supply draw “helped ease some of the […]
United States Oil (USO) rose more than US$1 a barrel after news that China and the United States were resuming trade talks Oil prices rose more than US$1 a barrel on Tuesday after news that China and the United States were resuming trade talks ahead of a meeting at the G-20 summit later this month, […]
United States Oil (USO) on the defensive Investor caution ahead of the Federal Reserve’s interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions. U.S. crude oil futures shed 0.08% to $51.89 per barrel after retreating 1.1% the previous […]
United States Oil (USO) slammed by worries about the slowing global economy Oil prices have been crushed by worries about weaker demand and a slowing global economy, but the market could begin to price in greater geopolitical risks if there are more attacks like the one on two oil tankers in the Gulf of Oman […]
United States Oil (USO) stocks up a second straight week; trade tensions persist Oil prices on Wednesday logged the lowest finish since January as U.S. crude supplies climbed a second week in a row and concerns about energy demand persisted on the back of growing U.S.-China trade tensions. “The dominant trend remains bearish as U.S. […]
United States Oil (USO) EIA cuts forecasts on prices The U.S. Energy Information Administration reduced its forecasts for oil prices and U.S. crude-oil production, according to its Short-term Energy Outlook report released Tuesday. The EIA forecasts 2019 U.S. crude production of 12.32 million barrels a day, down 1% from the May forecast. It also cut […]
United States Oil (USO) investors focused on worries about slowing global growth and uncertainty surrounded Russia’s decision Oil futures finished lower on Monday as investors focused on worries about slowing global growth and uncertainty surrounded Russia’s decision on whether to extend production curbs beyond their expiration this month. Prices fell closer to the session’s lows […]
United States Oil (USO) Saudi Arabia signals OPEC deal extension Oil prices rose on Friday, climbing further from five-month lows hit this week, after Saudi Arabia said OPEC was close to agreeing to extend an output production cut beyond June. Brent crude futures rose 2.7% to $63.33 a barrel. U.S. West Texas Intermediate (WTI) crude […]
United States Oil (USO) imports increased while exports decreased during the week ending May 31 U.S. crude oil imports increased while exports decreased during the week ending May 31, the U.S. Energy Information Administration (EIA) said Wednesday. U.S. crude oil imports averaged 7.9 million barrels per day (b/d) last week, up by 1.065 million b/d […]
United States Oil (USO) prices entering a bear market Oil futures dropped Wednesday, with U.S. prices entering a bear market, as domestic data revealed a weekly crude supply climb of almost 7 million barrels—the largest in five weeks—to their highest level in nearly two years. “Crude inventories are now at their highest since July 2017, […]
United States Oil (USO) gains after approaching bear-market territory Oil futures recovered from early losses Wednesday to end higher in the wake of a four-session losing streak that had threatened to push U.S. prices into bear-market territory. “Oil got hammered the past couple trading days and traders saw an opportunity for cheap prices, combined with […]
United States Oil (USO) Saudi comments indicating OPEC would extend supply cuts supported prices Oil futures ended the session lower after back-and-forth trading on Monday, as Saudi comments indicating OPEC would extend supply cuts supported prices, while concerns that U.S. tariffs on China and Mexico would hurt demand weakened crude market sentiment. Saudi Arabia signaled […]
United States Oil (USO) racked up their biggest monthly losses in six months amid stalling demand Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets racked up their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global […]
United States Oil (USO) prices to their lowest in over two months on a smaller-than-expected decline in U.S. crude inventories Oil prices fell almost 4% to their lowest in over two months on a smaller-than-expected decline in U.S. crude inventories and fears of a global economic slowdown due to the U.S.-China trade war. The Energy […]
United States Oil (USO) an industry report showed a decline in U.S. crude inventories that exceeded analyst expectations Oil prices rose on Thursday after an industry report showed a decline in U.S.crude inventories that exceeded analyst expectations. U.S. West Texas Intermediate (WTI) crude futures were up 26 cents, or 0.4%, at $59.07 a barrel by 0258 GMT. […]
United States Oil (USO) prices logged the worst weekly performance of the year U.S. oil futures ended higher Tuesday, but global crude prices finished flat, after prices for both benchmarks logged their worst weekly performance of the year, as traders continued to weigh risks to supplies, as well as demand. “Crude oil prices have been […]
United States Oil (USO) oil prices consolidated above $70 per barrel Brent crude oil prices consolidated above $70 per barrel on Tuesday as supply cuts led by producer club OPEC and U.S. sanctions on Iran’s and Venezuela’s fuel exports outweighed concerns about an economic slowdown. Front-month Brent crude futures, the international benchmark for oil prices, were at $70.14 at 0218 GMT, […]
United States Oil (USO) ongoing supply cuts led by producer club OPEC kept markets relatively tight Oil prices rose on Monday as ongoing supply cuts led by producer club OPEC kept markets relatively tight, but Brent remained below $70 per barrel on concerns over an ongoing trade war between the United States and China. Front-month […]
United States Oil (USO) prices plunge as the market prepares for a prolonged U.S.-China trade war Oil prices tumbled nearly 6% on Thursday, extending steep losses in the previous sessions, as the market braced for a prolonged U.S.-China trade war and digested disappointing manufacturing data. Some analysts also pointed to signs that Middle East tensions […]
United States Oil (USO) falls amid surging U.S. crude inventories and weak demand from refineries Oil prices dropped by around 1% on Thursday, extending falls from the previous session amid surging U.S. crude inventories and weak demand from refineries. Brent crude futures, the international benchmark for oil prices, were at $70.36 per barrel at 0652 […]
United States Oil (USO) U.S.-China trade woes weighed on energy-demand prospects U.S. prices settled lower Tuesday as U.S.-China trade woes weighed on energy-demand prospects. However, Middle East tensions provided some support for the global benchmark. West Texas Intermediate crude for June delivery CLM19, -0.13% lost 11 cents, or 0.2%, to settle at $62.99 a barrel […]
United States Oil (USO) rises on escalating US-Iran tensions Oil prices edged up on Tuesday on escalating tensions between the United States and Iran and on signs that producer club OPEC will continue withholding supply this year. However, gains were checked by concerns that a prolonged Sino-U.S. trade war could lead to a global economic […]
United States Oil (USO) prices up as Trump threatens Iran, OPEC mulls output cuts Crude oil prices jumped higher at the start of the trading week after US President Trump threatened Iran via Twitter, warning officials in Tehran that if they want a fight, that will “be the end” of the Islamic Republic. Tensions between the two countries […]
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 […]