ProShares Ultra Bloomberg Crude Oil
Latest ProShares Ultra Bloomberg Crude Oil News and Updates
Are Oil’s Supply Concerns Rising?
On May 21, US crude oil July futures closed $5.97 above the July 2019 futures contract. On May 14–21, US crude oil July futures rose 1.9%.
Where Will Commodities Head during Trump’s Term?
Donald Trump’s policies are aimed at strengthening job markets in the United States (VFINX) (IVV).
What to Expect from OPEC’s Crude Oil Production in August 2017
October WTI (or West Texas Intermediate) crude oil (USO) (UCO) futures contracts rose 0.4% and were trading at $47.73 per barrel in electronic trade at 2:00 AM EST on August 22, 2017.
Oil’s Contango: Supply–Demand Fears Could Impact the Market
On October 3, 2017, US crude oil (USL) (OIIL) November 2018 futures settled $0.33 higher than the November 2017 futures.
Why Did Oil Prices Move Higher?
On February 22, 2018, US crude oil’s April 2018 futures rose 1.8% and closed at $62.77 per barrel.
Crude Oil Prices Rally Due to Short Covering
WTI (West Texas Intermediate) crude oil futures contracts for January delivery rose slightly by 0.4% and closed at $43.04 per barrel on Wednesday.
US Distillate Inventories Rose for the Sixth Time in 7 Weeks
US distillate inventories increased for the sixth time in the last seven weeks. The inventories rose ~11% in the last seven weeks.
Are Traders Confident about the Oil Supply-Demand Balance?
Between December 29, 2017, and January 8, 2018, the premium and the oil prices rose. The market expects a tightening supply-demand balance for oil in 2018.
Libya’s Crude Oil Production: Bears Could Control Oil Prices
Libya’s crude oil production was at 1,030,000 bpd in July 2017. Production has risen ~60% from its levels in January 2017.
Will US Crude Oil Futures Be Range Bound This Week?
WTI crude oil (USO) futures hit $58.95 per barrel on November 24, 2017—the highest level in nearly three years.
Crude Oil Prices Rally despite the Iran Nuclear Accord
NYMEX-traded WTI (West Texas Intermediate) crude oil futures contracts for August delivery rose by 1.10% and settled at $53.04 per barrel on July 14, 2015.
Notable Gainers and Losers among Major Currency Pairs
Major Asian currency pairs were trading on a negative bias against the US dollar on August 12, 2016. The US dollar broadly rose against the other currencies.
Will US Crude Oil Prices Outperform in 2H17?
WTI crude oil (BNO) (PXI) (UCO) (XOP) prices have fallen 18% year-to-date. They have fallen 7% in the past year due to bearish drivers.
OPEC’s Crude Oil Production: Key for Crude Oil Traders?
A Bloomberg survey estimates that OPEC’s crude oil production rose by 315,000 bpd to 32.21 MMbpd in May 2017—compared to the previous month.
US Distillate Inventories Rose for the Fourth Time in 5 Weeks
US distillate inventories rose for the fourth time in the last five weeks. They rose ~3% in the last five weeks, which is bearish for diesel and oil prices.
US Dollar near 7-Month High: Will It Pressure Crude Oil Prices?
November West Texas Intermediate crude oil futures contracts fell 0.8% and settled at $49.94 per barrel on October 17, 2016.
US Refinery Demand Impacts Crude Oil Inventories
US refineries operated at 93.4% of their operable capacity in the week ending May 5, 2017. The rise in refinery demand is bullish for crude oil prices.
Sharp Fall in Crude Oil Price Dictate the Currencies Markets
Looking at the performance of the major commodity-driven currencies on July 25, the Nigerian naira was the biggest casualty.
OPEC and Non-OPEC Meeting Could Drive Crude Oil Futures
August US crude oil futures contracts rose 0.4% and closed at $44.4 per barrel on July 10. Brent crude oil futures rose 0.4% to $46.8 per barrel.
Why US Crude Oil Production Could Hit a Record High in 2018
US crude oil production According to the EIA (U.S. Energy Information Administration), US crude oil production rose 13,000 bpd (barrels per day) to 9,658,000 bpd between November 10 and 17, 2017. Production, which rose for the fifth straight week, has been pressuring oil (SCO) prices in the last few weeks. Production has risen 977,000 bpd (11.3%) year-over-year. Any […]
China’s Crude Oil Imports Hit a New Record
China’s General Administration of Customs reported that China’s crude oil imports rose to 9.21 MMbpd (million barrels per day) in March 2017.
US Distillate Inventories Rose for the Eighth Time in 10 Weeks
US distillate inventories rose by 0.64 MMbbls (million barrels) to 139.8 MMbbls on January 12–19, 2018, according to the EIA.
Supply, Demand: Will Crude Oil Futures Rally Be Short-Lived?
August WTI (West Texas Intermediate) crude oil futures contracts rose 1.0% and closed at $45.49 per barrel on Wednesday, July 12, 2017.
Is WTI Crude Oil Outdoing Brent?
On November 21, Brent crude oil (BNO) active futures closed $5.74 above US crude oil (USO)(UCO) active futures. In other words, the Brent-WTI (West Texas Intermediate) spread was $5.74.
Why US Crude Oil Output Hit a High from January 2016
US crude oil output is at the highest level since January 25, 2016. The rise in crude oil output is the biggest bearish driver for crude oil prices in 2017.
WTI Crude Oil Is Rising Faster than Brent
On November 28, 2017, Brent crude oil (BNO) active futures closed at $5.62 higher than US WTI crude oil (USO) (UCO) active futures.
US Gasoline Demand: Bullish or Bearish for Oil Prices?
The EIA (U.S. Energy Information Administration) estimated that four-week average US gasoline demand rose by 6,000 bpd to 9,317,000 bpd on April 7–14.
How Energy ETFs Are Correlated to Falling Oil Prices
At ~65.2%, the VanEck Vectors Oil Services ETF (OIH) showed the highest correlation with US crude oil between April 4–May 4, 2017.
Brent Is Outperforming WTI Crude Oil
On December 11, 2017, Brent crude oil (BNO) active futures settled $6.7 more than WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures.
Oil Traders Should Watch US Oil Exports
On December 5, 2017, Brent crude oil (BNO) active futures were priced $5.24 higher compared to WTI crude oil (USO) (UCO) active futures.
Stone Energy’s Stock Performance in 2018
Stone Energy stock has increased the most among our top five companies. Stone Energy stock has risen 60% YoY (year-over-year).
Russia Could Leave OPEC’s Production Cut Deal
Rosneft is Russia’s largest oil producer. On June 1, a Rosneft board member stated that Russia wouldn’t extend the production cut deal beyond March 2018.
Will the OPEC and Non-OPEC Meeting Drive Crude Oil Futures?
September WTI (West Texas Intermediate) crude oil (RYE) (VDE) (UCO) futures contracts rose 1.1% to $49.58 per barrel on August 4, 2017.
US Crude Oil Exports Could Be at a Tipping Point
On October 31, 2017, Brent crude oil (BNO) active futures were ~$7 above US crude oil (UCO) futures.
US Distillate Inventories Are near a 3-Year Low
US distillate inventories fell by 302,000 barrels to 128.9 MMbbls (million barrels) on October 20–27, 2017. It’s the lowest level since April 10, 2015.
US Distillate Inventories Fell for the Third Time in 10 Weeks
US distillate inventories fell by 3.8 MMbbls or 2.7% to 139.2 MMbbls on January 5–12, 2018. The inventories fell by 29.9 MMbbls or 18% from a year ago.
Will OPEC and Russia Announce Deeper Production Cuts?
The OPEC and non-OPEC monitoring committee meeting will be held on July 24, 2017, in Russia. The meeting will discuss production cut deal compliance.
What US Crude Oil Production’s 26-Month High Could Mean
On September 27, 2017, the EIA estimated that US crude oil production rose 37,000 bpd (barrels per day) to ~9.5 MMbpd from September 15–22, 2017.
Inside the Global Crude Oil Supply-Demand Gap
The EIA estimated that the global crude oil supply-demand gap averaged 0.58 MMbpd (million barrels per day) in 1H16.
US Distillate Inventories Fell for the Fourth Straight Week
The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 1.72 MMbbls to 147.7 MMbbls on July 28–August 4, 2017.
Crude Oil Futures: Next Important Resistance Level
WTI crude oil (UCO) futures closed at $62.01 per barrel on January 4, 2018—the highest level since December 2014. WTI prices rose ~12.4% in 2017.
US Crude Oil Prices Could Pressure Natural Gas Futures
Baker Hughes is scheduled to release its US crude oil and natural gas rig count report on November 11, 2017.
Will US Crude Oil Production Undermine Crude Oil Futures?
According to the EIA, US crude oil production increased by 28,000 bpd (barrels per day) to 9,782,000 bpd on December 22–29, 2017.
Cushing Inventories Fell 33% from the Peak
Analysts expect that Cushing crude oil inventories could have declined on January 5–12, 2018. A fall in Cushing inventories is bullish for oil prices.
Traders Could Start Booking a Profit in Crude Oil Futures
On January 16, 2018, Goldman Sachs said that crude oil prices could exceed its forecast in the coming months.
Will API Inventory Data Impact Energy Stocks?
Today, the API plans to release its oil inventory data for the week ended August 30. Gasoline inventories are expected to fall by 1.8 MMbbls.
Oil Prices: Implied Volatility Suggests Upside Is Intact
On June 27, US crude oil’s implied volatility was 33.7%—12.7% below its 15-day average. Lower implied volatility might support oil prices.
Crude Oil’s Implied Volatility and Price Forecast
On April 17, US crude oil’s implied volatility was 22.1%, which is 5.5% below its 15-day average.
Key Events That Could Steer Oil and Gas Prices This Week
The EIA’s (U.S. Energy Information Administration) Drilling Productivity Report is scheduled for release on February 12, 2018.
How Russia’s Service Activity Looked in December 2017
According to a report by Markit Economics, Russia’s service PMI (purchasing managers’ index) showed a weaker improvement in December as compared to November 2017.