ProShares Ultra Bloomberg Crude Oil
Latest ProShares Ultra Bloomberg Crude Oil News and Updates
Why US Crude Oil Inventories Fell for 9th Consecutive Week
According to the July 20, 2016, U.S. Energy Information Administration report, US crude oil inventories declined by 2.3 MMbbls for the week ended July 15, 2016.
US Crude Oil Inventories Fell for the 8th Week: What It Means
According to the EIA’s report on July 13, 2016, US crude oil inventories fell by 2.5 MMbbls (million barrels) in the week ended July 8, 2016.
What Caused US Crude Oil Inventories to Fall Marginally?
According to the EIA’s report on June 22, 2016, US crude oil inventories fell by 0.92 MMbbls (million barrels) for the week ending June 17, 2016.
US On-Highway Diesel Fuel Prices Hit Fresh 2016 Highs
The EIA reported that US on-highway diesel fuel prices rose by 0.8% week-over-week and closed at $2.40 per gallon on June 6, 2016.
Iran’s Oil Sanctions Lifted: Brent Oil Prices Feel the Heat
Thus, Iran’s Western oil sanctions were lifted on Saturday, January 16, 2016. On Sunday, January 17, Iran stated that it would increase its crude oil production by 500,000 bpd (barrels per day) as soon as possible.
Crude Oil’s Total Cost of Production Impacts Major Oil Producers
OPEC members Nigeria, Libya, and Venezuela have the highest total cost of producing crude oil at $31.6 per barrel, $23.80 per barrel, and $23.50 per barrel.
