United States Brent Crude Oil Fund
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Crude Oil Prices Were Strong in Q2: What’s Next?
Crude oil prices saw a best-ever quarter in the second quarter. Brent crude and WTI crude fell to multiyear lows in April 2020.
Oil Price Update: Have Traders Turned Bullish?
Today at 10:01 AM ET, WTI (West Texas Intermediate) oil prices rose 3.8% and were at $28.65 per barrel. On Thursday, WTI prices rose by 9%.
Higher US Oil Exports: Has Iran Paved the Way?
On Wednesday, Brent crude oil active futures settled $7.3 higher than the WTI crude oil active futures—an important development for US oil exports.
Brent-WTI Spread Could Impact US Oil Exports
On Monday, Brent crude oil active futures settled $6.9 higher than the WTI crude oil active futures. On July 8, the spread was at $6.45.
Why Is OPEC’s Output at a Five-Year Low?
Last week, US crude oil August futures fell 1.6%. US crude oil August futures closed at $57.51 per barrel on Friday. SPY rose 1.7% last week.
US Oil Exports Might Slide in the Coming Weeks
On June 24, Brent crude oil active futures settled ~$6.96 higher than the WTI crude oil active futures—the lowest level since April 9. On June 17, the spread was at $8.77.
OPEC’s Meeting: Market Expects Another Output Cut Next Week
Last week, US crude oil August futures rose 8.8%—the highest weekly gain for active US crude oil futures since December 2, 2016. US crude oil August futures closed at $57.43 per barrel on June 21.
OPEC Plus Meeting Is Important for US Oil Exports
Next week, the OPEC plus meeting will be important for the Brent-WTI spread. If OPEC and its allies increase the magnitude of the production cut, the Brent-WTI spread could rise.
How the Oil Market Is Reacting to Recent Events
Last week, US crude oil July futures fell 2.7% and closed at $52.51 per barrel on June 14. On June 5, US crude oil prices fell to their lowest closing level of $51.68 per barrel since January 14.
US Oil Exports Might Continue to Grow
On June 10, Brent crude oil active futures settled ~$9 higher than the WTI crude oil active futures. On June 3, the spread was at ~$8.
US Crude Oil Exports Might Rise to a Record Level
On May 24, Brent crude oil active futures settled ~$10.06 higher than the WTI crude oil active futures. On May 17, the spread was at ~$9.29.
Will US Oil Exports Moderate in the Coming Weeks?
On May 20, Brent crude oil active futures settled ~$8.76 higher than the WTI crude oil active futures.
What Could Impact US Oil Exports?
On April 29, Brent crude oil June futures settled ~$8.54 higher than the WTI crude oil June futures. On April 22, the spread was at ~$8.49.
What Might Impact US Oil Exports in the Coming Days?
On April 22, Brent crude oil June futures settled ~$8.5 higher than the WTI crude oil June futures. On April 15, the spread was at ~$7.6.
Brent-WTI Spread Reacted Negatively to the Venezuela Crisis
On February 4, Brent crude oil April futures settled ~$7.95 higher than WTI crude oil March futures. On January 28, the spread was ~$7.82.
Oil Exports and Downstream Stocks Might Start 2019 on a High Note
On January 7, Brent crude oil March futures settled at ~$8.81—higher than WTI crude oil February futures.
US Oil Exports and Downstream Stocks Might Retreat
On January 2, Brent crude oil March futures settled at ~$8.37—higher than WTI crude oil February futures.
Brent-WTI Spread Might Drag US Oil Exports and Downstream Stocks
On December 26, Brent crude oil February futures settled at ~$8.25—higher than WTI crude oil February futures.
Will US Oil Exports End 2018 on a Low Note?
On December 17, Brent crude oil February futures settled at ~$9.41—higher than WTI crude oil February futures.
Have US Oil Exports Maxed Out?
On December 10, Brent crude oil February futures settled at ~$8.97, higher than WTI crude oil January futures.
Brent-WTI Spread Might Push Oil Exports and Downstream Stocks Up
On September 10, 2018, Brent crude oil November futures settled ~$9.83 higher than WTI crude oil October futures, the highest level for the Brent-WTI spread since June 19, 2018.
Analyzing the S&P 500 and Energy Prices in July
The S&P 500 rose ~0.49% to 2,816.29 on July 31. Renewed trade negations between the US and China supported the S&P 500.
Crucial Drivers for the S&P 500 and Crude Oil
The S&P 500 Index fell ~0.58% to 2,802.60 on July 30. Eight of the 11 key sectors in the S&P 500 dropped on July 30.
Brent-WTI Spread Could Support Downstream Stocks and Oil Exports
On July 23, Brent crude oil September futures settled ~$5.17 higher than WTI crude oil September futures.
Crude Oil and the S&P 500’s Price Movement on July 17
The S&P 500 rose ~0.4% to 2,809.55 on July 17—the highest closing since February 1. The index rose due to Fed Chair Jerome Powell’s bullish comments.
US Jobs Help S&P 500 to Rise on July 6, Oil and Gas Also Rise
The S&P 500 rose ~0.85% to 2,759.82 on July 6, its highest level in two weeks.
S&P 500 Fell, Crude Oil and Energy Sector Rose
August WTI oil futures contracts rose 0.3% to $74.14 per barrel on July 3. Brent oil futures rose 0.6% to $77.16 per barrel on the same day.
Brent and US Crude Oil before OPEC’s Meeting
On June 8–15, Brent crude oil August futures fell 3.9%, which was 2.9 percentage points more than the fall in US crude oil.
How New Sanctions on Iran Could Affect Crude Oil Prices
On May 8, President Trump announced that the United States is exiting the Iran nuclear pact. Trump now plans to impose new sanctions on Iran.
Why Oil’s Rally Is Cooling
Between May 18 and May 25, US crude oil July futures fell 4.9%—the steepest weekly decline since February 9.
Venezuela’s Falling Crude Oil Production Drives Oil Prices Higher
The EIA estimates that Venezuela’s crude oil production decreased by 45,000 bpd (barrels per day) to 1,465,000 bpd in April—compared to March.
President Trump Impacts Iran and Crude Oil Futures
On May 8, President Trump said that the US is exiting the Iranian nuclear deal. He plans to impose new sanctions on Iran.
US Crude Oil Exports Could Rise More
On April 30, Brent crude oil July futures settled at $6.12 more than WTI crude oil June futures. On April 23, the Brent-WTI spread was at $5.37.
Is US Crude Oil Losing Momentum?
Between April 20 and April 27, US crude oil June futures fell 0.4%. Let’s take a closer look.
OECD’s Crude Oil Inventories Are near March 2015 Low
According to the EIA, OECD’s crude oil inventories declined 0.7% to 2,783.5 MMbbls in March 2018—compared to the previous month.
US Crude Oil Didn’t Reach a New 3-Year High
On April 13–20, 2018, US crude oil June futures rose 1.6% and settled at $68.4 per barrel on April 20. Last week, the US dollar rose 0.6%.
US Crude Oil Exports Reached a New Record
The EIA estimates that US crude oil exports increased by 597,000 bpd (barrels per day) to record high of 2,175,000 bpd on March 23–30, 2018.
OPEC’s Crude Oil Production Declined in March 2018
A Reuters survey showed that OPEC’s crude oil production declined by 90,000 bpd (barrels per day) to 32.19 MMbpd—compared to February 2018.
OPEC’s Crude Oil Production Is near April 2017 Low
OPEC’s crude oil production decreased by 170,000 bpd to 32.04 MMbpd in March 2018. OPEC had the lowest output since April 2017.
US Crude Oil Production and US Crude Oil Exports
On April 2, 2018, Brent crude oil June futures settled at $4.63 more than WTI crude oil May futures.
Crude Oil Futures Hit a 6-Week High
The WTI (West Texas Intermediate) crude oil futures contracts for May delivery increased 2.6% to $65.17 per barrel on March 21, 2018.
Global Crude Oil Supply Outage Is near a 7-Month High
The EIA estimates that the global crude oil supply outage increased by 275,000 bpd (barrels per day) to 1,870,000 bpd in February 2018.
Crude Oil Futures Fell before the US Oil Inventories Report
US crude oil futures contracts for May delivery fell 0.4% to $62.13 per barrel on March 19, 2018.
Crude Oil Traders Track Venezuela’s Oil Production
The EIA estimates that Venezuela’s crude oil production increased by 15,000 bpd to 1,620,000 bpd in February 2018—compared to January 2018.
US Shale Oil Production Could Pressure Crude Oil Futures
April US crude oil futures contracts fell 1.1% to $61.36 per barrel on March 12, 2018. Brent oil futures fell 0.8% to $64.95 per barrel on March 12, 2018.
Brent and US Crude Oil Futures Are near a 1-Week Low
April West Texas Intermediate crude oil futures contracts fell 2.3% to $61.15 per barrel on March 7, 2018.
Why OPEC’s Crude Oil Production Declined in February
April US crude oil futures rose 0.2% from the previous settlement and were trading at $62.68 per barrel at 1:05 AM EST on March 6, 2018.
US Crude Oil Futures Are near a 2-Week Low
April US crude oil futures contracts fell 2.2% to $61.64 per barrel on February 28, 2018—the lowest settlement since February 15, 2018.
Crude Oil Futures Hit a 2-Week High
April WTI crude oil futures contracts rose 1.8% to $62.77 per barrel on February 22, 2018. Brent oil futures rose 1.4% to $66.39 per barrel.
India’s Crude Oil Imports Surged in January
India’s crude oil imports increased 12.5% to a record high of 4.93 MMbpd in January 2018—compared to the previous month.
