United States Oil ETF
What’s the Outlook for WTI Crude Oil Prices?
On Wednesday, WTI crude oil active futures have declined 0.1% and settled at $41.90 per barrel. On a YTD basis, WTI active futures have fallen 31.4%.
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.
JPMorgan Chase Predicts Crude Oil Will Reach $190 in 2025
JPMorgan Chase predicts that oil will reach $190 per barrel in 2025. Just a few months ago, Brent crude touched a multiyear low.
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%.
How Long Could Crude Oil Keep Falling?
On Monday, the WTI crude oil futures May contract fell as low as -$40.32 per barrel. Oil turned negative for the first time since its discovery in 1875.
Any Spike in Oil Prices Might Not Be Sustainable
On Wednesday, WTI crude oil prices fell approximately 4.9% and settled at $59.61 per barrel. The fall was the largest one-day decline since November 29.
Are We Seeing Soleimani’s Bull Trap for Oil Prices?
Early this morning, WTI crude oil prices touched $65.65 per barrel, the highest since April 26. At 5:42 AM ET, WTI futures traded at $62.82, up just 0.2%.
Could Trump Push Oil Prices to $100?
Today at 10:15 AM ET, WTI (West Texas Intermediate) crude oil prices fell 0.8%. Profit booking could be one of the factors behind oil’s decline.
Key Oil Price Indicators at the End of 2019
Last week, WTI crude oil prices gained 0.6%—the third consecutive weekly gain. The rally in oil prices started towards the end of 2019.
Will Oil Prices Feel the Heat of the Impeachment Inquiry?
At 10:21 AM ET, WTI crude oil prices were up 1.6%. If they stay at this level, we could see the second consecutive weekly rise for oil prices.
Will China’s Crude Oil Imports Push Prices Up?
Today at 7:00 AM ET, US crude oil prices fell 1% after closing 80 cents below the psychologically important level of $60 last week.
Oil Price Outlook: Is A Multi-Year High in the Cards?
Last week, WTI crude oil prices rose 7.3%. It was the highest weekly gain since June. The upside in oil also helped the USO gain 6%.
OPEC+ Meeting: Will Oil Prices Hit $100?
Today at 7:25 AM ET, US crude oil prices have fallen by 0.5%. According to CNBC, OPEC+ members might increase the current production cut by 0.5 MMbpd.
Crude Oil Prices: After Inventory, Watch OPEC+
Today at around 4:35 AM ET, WTI crude oil prices have fallen 0.5%. Today and tomorrow, OPEC+ members will discuss the fate of the production cut agreement.
Will OPEC+’s Latest Strategy Lift Oil Prices?
Yesterday, Vitol’s Giovanni Serio expressed confidence in OPEC+’s latest strategy. It’s implemented a production cut of 1.2 MMbpd to balance the oil market.
Oil Prices: A Look at China and OPEC’s Impact
WTI crude oil prices rose 2.6% and Brent crude oil active futures rose 2.3%. China’s factory activity data could be behind the stronger oil prices.
Oil Prices: What’s the Outlook Next Week?
So far this week, WTI crude oil prices have risen 0.8%. USO has gained 0.2%. On Wednesday, the EIA released the inventories report for the previous week.
Crude Oil Basics: Types of Crude Oil
Many think of crude oil as one single commodity that’s the same everywhere. But that isn’t the case. It actually has many different varieties.
Oil Prices: What Today’s Inventory Report Could Bring
The American Petroleum Institute is set to report its inventory data later today. Yesterday, WTI crude oil prices rose 0.4%.
Oil Prices This Week: Key Fundamentals and Outlook
Last week, WTI crude oil prices rose just 0.1%, while the United States Oil Fund LP (USO) rose 0.2%. Crude oil rose for the third consecutive week.
Are Crude Oil Prices Rising with Aramco’s IPO?
On Monday, WTI crude oil prices fell 1.2% and closed at $57.02 per barrel. On a month-to-date basis, WTI crude oil active futures have risen 5.3%.
EIA, Iraq, Trade War: Where Could Oil Prices Move?
The EIA released its inventory report at 10:30 AM ET. WTI crude oil prices rose around 0.4% at 11:31 AM ET from their last closing level.
How the Crude Inventory Report Could Impact Oil Prices
At 11:46 AM ET, US crude oil prices were up 0.7% from the last trading session. The EIA plans to release its inventory report tomorrow.
Aramco IPO: Will Crude Oil Prices Keep Declining?
In the week ended November 1, WTI crude oil prices fell 0.8% and settled at $56.20 per barrel. Year-to-date, active WTI futures have risen 23.8%.
Saudi Aramco IPO Arrives: Did Baghdadi’s Death Help?
The long-awaited Saudi Aramco IPO is confirmed. Based on estimates, this could be the largest IPO. Also, Aramco could be the biggest listed company.
Why Are Crude Oil Prices Falling Today?
Today at 8:25 AM ET, US crude oil prices have fallen 0.8%. Prices continue to decline after the EIA released inventory data on Wednesday.
More Risk for Crude Oil Prices after Baghdadi Raid?
On Monday, WTI crude oil prices fell 1.5% and settled at $55.81 per barrel. So far, US crude oil active futures have risen 3.2% in October.
Goldman Sachs: Pain Isn’t Over for Oil Prices
Goldman Sachs has warned that oil prices might not have any significant upside next year and that unless global growth picks up, Brent will remain at $60.
Will the OPEC Factor Support Crude Oil Prices?
On October 22, US crude oil prices rose 1.6% and settled at $54.16 per barrel. The S&P 500 Index (SPY) fell 0.4% on the same day.
EIA Inventory Data: Oil Could Decline in the Next Week
On October 17, the EIA released its inventory data. US crude oil inventories rose by 9.3 MMbbls—far above the Reuters poll for a rise of 2.88 MMbbls.
Crude Oil Prices Rose Due to Strike on Iran Tankers
Today, as of 6:28 AM ET, US crude oil prices have risen 1.8%. Oil prices rose after the media reported that a missile hit Iranian oil tankers in the Middle East.
How Trump’s Withdrawal from Syria Could Drag on Oil
On October 6, in a surprise move, President Donald Trump decided to withdraw all US troops from northern Syria. What does this mean for oil?
Houthis, the EIA, and PMI: Could Crude Oil Fall to $40?
Today at 10:30 AM ET, the US Energy Information Administration released its weekly inventory data. Today at 12:44 PM ET, WTI crude oil futures lost 2.2%.
What Mohammed bin Salman’s Comments Mean for Oil
On September 29, in an interview with CBS News, Mohammed bin Salman discussed the effects of the September 14 drone attack on Saudia Arabia.
Could US Missiles Lift Crude Oil Prices Next Week?
On Thursday, the Pentagon announced the defensive deployment of Patriot missiles in Saudi Arabia. That day, US crude oil fell 0.1% to $56.41 per barrel.
Crude Oil Futures: Iran versus the West
Today at 7:51 AM ET, US or WTI crude oil futures fell 0.9%. There are renewed concerns about a global slowdown due to trade war uncertainty.
Houthis Peace Initiative Will Hit US Crude Oil Prices
In the week that ended on September 20, US crude oil prices rose 5.9%. On September 14, drones attack crippled Saudi Arabia oil production by 50%.
RBC Capital: Is OPEC Failing against Trump?
On Thursday, RBC Capital Market’s Helima Croft suggested that OPEC is probably failing against President Trump to stop the slide in oil prices.
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.
The US Energy Sector: An Overview
To understand the US energy sector, it’s essential first to understand the country’s energy needs. The US uses various energy sources to meet its energy needs.
Where Is US Crude Oil Headed? An Energy Update
On August 30, US crude oil October futures settled at $55.1 per barrel. On a week-over-week basis, US crude oil prices rose 1.7%.
Can the US-China Trade War Spiral into a Crude Oil War?
Although the US doesn’t export much crude oil to China, the additional supply of cheap Iranian oil could pressure both Brent and WTI crude prices.
Oil and Energy Stocks Fall after Trump’s Latest Tariff
President Trump’s new tariff impacted crude oil prices. On Thursday, the WTI near-month crude oil futures price fell approximately 8%.
Trade War: Is $40 Oil on the Horizon?
If there isn’t an upward thrust with the escalation in the trade war, we could see WTI crude oil close at the psychologically important level of $40.
Will WTI Crude Oil Prices Pass $60 after Today’s Report?
Today, the EIA reported its US crude oil inventory data for the week ended July 26. Here’s what you can expect from crude oil prices as July ends.
Will Oil Prices Trend Lower in August?
In the next 24 trading sessions or until the end of August, US crude oil prices will likely close at $51.93–$60.47 per barrel.
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.
How US Production Is Affecting WTI Crude Oil Prices
Between February 11, 2016, and July 15, 2019, WTI crude oil prices rose 127.3%. The United States Oil Fund LP (USO) gained 53.9% in the period.
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.
OPEC Could Extend the Output Cut: Will Oil’s Rise Continue?
At 7:12 AM ET on July 1, US crude oil active futures were trading 2.2% higher compared to last week. Energy stocks might open higher on July 1 due to oil’s gains.
All Eyes on OPEC: Production Cut Might Deepen
On June 27, US crude oil August futures rose 0.1% and closed at $59.43 per barrel. Oil continued to extend its gains.
Gasoline Prices Could Continue to Outperform Oil Prices
The shutdown at Philadelphia Energy Solutions could increase US oil inventories in the coming weeks. But at the same time, gasoline inventories might decline. The Philadelphia Energy Solutions refinery has a refining capacity of 335,000 barrels per day. On June 26, the United States Gasoline Fund (UGA), which follows gasoline prices, rose 4%.
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.
US-Iran Tension: What Does It Mean for Oil?
After Iran shot down a US drone, US crude oil August futures rose 5.7% on June 20 and settled at $57.07 per barrel. In the trailing week, US crude oil active futures rose 8.6%.
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.
IEA Again Slashes Its Oil Demand Growth Estimate
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they’ll mark their third week of decline in five weeks.
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.
The US Imports Oil from These Countries
The US imported ~3.6 billion barrels of crude oil and petroleum products in 2018.
Where Does the United States Export Oil?
In this part, we’ll take a look at the top countries where the US exports its crude oil.
Analyzing the Role of Oil and Gas in the US’s Energy Needs
According to the Energy Information Administration, energy consumption in the US reached its highest level ever in 2018.
US Ends Waivers on Iran Oil Imports: What’s Next?
The United States is confident that the end of its waivers on imports of Iranian oil won’t disrupt the world’s oil supply.
Why the US Imposed Sanctions on Iran and Why They Matter
The United States first imposed restrictions on its activities with Iran in 1979, after the seizure of the US embassy in Tehran.
OPEC’s Role in World Oil Production
OPEC (the Organisation of the Petroleum Exporting Countries) aims to “coordinate and unify the petroleum policies of its Member Countries.”
The World’s Top Oil-Producing Countries
According to the EIA (U.S. Energy Information Administration), the United States, Saudi Arabia, and Russia are the world’s top three crude oil producers.
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.
What Might Cap Rising Crude Oil Prices?
The US crude oil (USO) supply includes domestic production and imports. The supply gets consumed as inputs to refineries and exports.
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.
Which Oil ETFs Outperformed Oil Last Week?
Between February 11, 2016, and February 1, 2019, US crude oil active futures rose 110.8% from their 12-year low.
Did Oil-Tracking ETFs Underperform Oil Last Week?
USO holds active US crude oil futures, while USL holds US crude oil futures deliverable for each of the next 12 months.
Did Oil ETFs Underperform WTI Prices Last Week?
Between February 11, 2016, and January 11, 2019, US crude oil active futures rose 96.8% from their 12-year low.
Goldman Sachs Turned More Bullish on Gold in 2019
On January 10, Goldman Sachs raised the price forecast for gold to $1,325, $1,375, and $1,425 per ounce for the next three, six, and 12 months.
Investing Defensively Can Lose You a Fortune
I bet you may have heard a lot about investing defensively while the market faded.
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.
Oil ETFs Rose More than Oil Last Week
Between December 28 and January 4, the United States Oil ETF (USO), United States 12-Month Oil ETF (USL), and ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 6.8%, 7.4%, and 14%, respectively.
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.
The Story behind Bank of America’s Bullish Gold Outlook
Bank of America Merrill Lynch (BAML) is overweight on precious metals going into 2019.
What Makes Goldman Sachs ‘Extremely Positive’ on Gold in 2019?
Goldman Sachs (GS) turned positive on gold (GLD) for the first time in more than five years back in March.
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.
Time to Go Gold? Metal Outshines Risk Assets on Growth Concerns
For most of the year, gold prices (GLD) have languished, thanks to a strong US dollar (UUP), hawkish Fed rate hike outlook, and strength in the equity markets.
A Look at Russia’s Manufacturing Activity in January 2018
Russia’s manufacturing activity in January According to Markit Economics, Russia’s manufacturing PMI (purchasing managers’ index) improved marginally between December 2017 and January 2018, to 52.1 from 52.0. The January figure met the market estimate of 52.0 and was the strongest reading since July 2017. Factors affecting Russia’s manufacturing PMI in January were as follows: production volume and output […]
Why Is Goldman Sachs Extremely Sold on Gold in 2019?
In a report published on November 26, Goldman Sachs (GS) stated that commodities (COMT) could climb 17% in the coming months.
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.
How Did US Crude Oil ETFs Perform Last Week?
On December 7–14, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 2.6% and 2.3%, respectively.
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.
Did Oil-Tracking ETFs Outperform Oil Last Week?
On November 30–December 7, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) rose 3.5% and 4.6%, respectively.
Did Oil ETFs Diverge from Oil Prices Last Week?
On November 23–30, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 0.9% and 1.2%, respectively.
Why Goldman Sachs Thinks Gold Prices Are ‘Extremely Attractive’
In a report published yesterday, Goldman Sachs (GS) stated that commodities (COMT) could climb 17% over the coming months.
Analyzing Oil ETFs’ Returns Last Week
On November 16–23, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 10.3% and 9.9%, respectively.
Which Oil ETFs Fell Less than Oil Last Week?
On November 2–9, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 4.6% and 3.8%, respectively.
Which Oil-Tracking ETFs Outperformed US Crude Oil’s Fall?
On October 26–November 2, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 7.1% and 6.4%, respectively.
Oil ETFs Outperformed Oil’s Fall Last Week
On October 5–12, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) both fell 3.6%.
CPI Underwhelms Today: Will the Market Heave a Sigh of Relief?
The US consumer price index (or CPI) for September was released today at 8:30 AM EST. Inflation numbers were weaker-than-expected.
US Consumer Price Index Underwhelms: Gold, Stocks Rejoice
The US CPI (consumer price index) for August rose 0.2% sequentially compared to the 0.3% growth that was expected by economists.
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.