News
UCO
32.41
+0.65%
0.21
Crude inventory increased by 3.2M barrels for week ended March 22 - EIA
Crude inventory increased by 3.2M barrels for week ended March 22 - EIA. Commercial crude stocks for the week ended Mar 22: 448.2m barrels. Crude inventory change: +3.2 million barrels. Gasoline and distillates inventories increased by 1.3 million barrels for the same week.
Seeking Alpha · 1d ago
What Are Markets Pricing In?
Major stock market indices in the S&P 500 and Nasdaq are pricing in a significant rebound in growth throughout 2024. The areas of the market which are most forward-looking are looking increasingly priced to perfection. The more pro-cyclical and growth-sensitive sectors are yet to price in any material rebound.
Seeking Alpha · 1d ago
U.S. pump prices poised to hit $4 a gallon this summer, AAA says
U.S. Pump prices are expected to rise to the highest since the summer of 2022, AAA says. Pump prices have been climbing along with crude oil futures in recent weeks. The current national average price at the pump is $3.53/gal. Inventories have shrunk to the lowest since December.
Seeking Alpha · 1d ago
November World And Non-OPEC Oil Production
World oil production increased by 745 kb/d in November. The largest increase came from Canada. World without US November oil output increased by 645kb/d to 69,171 bbls/d. The Big Three, US, Saudi Arabia and Russia increased production by 64bbls. World oil production is projected to drop in December.
Seeking Alpha · 2d ago
Weekly Report: what happened at UCO last week (0318-0322)?
Weekly Report · 3d ago
U.S. has asked Ukraine to stop drone strikes on Russian oil refineries - FT
U.S. Has asked Ukraine to stop drone strikes on Russian oil refineries. The attacks have helped lift crude oil prices nearly 4% since March 12. Russia's average daily oil refining rate fell to the lowest weekly level in 10 months. The Biden administration has urged Ukraine to halt the attacks on Russia's energy infrastructure.
Seeking Alpha · 5d ago
Total U.S. drilling rig count slips; gas rigs lowest since January 2022
Total active drilling rigs in the U.S. Fell by 5 to 624, reversing last week's increase. Drilling rigs targeting crude oil dropped by 1 to 509; gas rigs lowest since January 2022. Baker Hughes says total count is still 18% below this time last year.
Seeking Alpha · 5d ago
Crude oil ticks lower as U.S. gasoline demand indicator drops
U.S. Gasoline inventories fell for a seventh week. Crude oil prices finished with back-to-back losses after settling at highest level since late October. Swiss National Bank surprise rate cut also weighed on markets. Oil may have been pressured by a U.S.- drafted UN resolution calling for a ceasefire in Gaza.
Seeking Alpha · 6d ago
Brent and WTI Stabilize as Market Weighs Fed's Monetary Policy
Oil prices are caught in a tug-of-war, influenced by conflicting forces. Brent crude hovers near $86 a barrel. The Federal Reserve's stance on interest rates is a key factor in the oil market. A strengthening dollar is putting downward pressure on oil prices. The oil market remains sensitive to global economic and geopolitical developments.
Barchart · 03/21 09:10
Crude prices to push well past $70-$90 when Fed cuts rates, Carlyle's Currie says
U.S. Crude oil futures finish lower after back-to-back sessions of gains. The Federal Reserve's decision to keep interest rates unchanged weighed on the market. Crude oil futures finished off five-month highs. Carlyle Group's Jeff Currie says he sees crude oil prices rising well past $70/bbl.
Seeking Alpha · 03/20 23:05
Crude inventory decreased by 2M barrels for week ended March 15 - EIA
Crude inventory decreased by 2M barrels for week ended March 15 - EIA. Commercial crude stocks for the week ending March 15: 445M barrels. Crude inventory change: -2.0m barrels. Gasoline inventory change decreased by 3.3m barrels for the same week.
Seeking Alpha · 03/20 14:32
Crude oil hits new five-month highs but Citi sees possible drop to $55 by late 2025
Crude oil futures climb to multi-month highs for the second straight day. Ukraine's attacks on Russian refineries could impact global supplies. OPEC's supply curbs have helped bolster prices. Citi sees possible drop to $55 by late 2025. The energy sector was the best performing S&P sector on Tuesday.
Seeking Alpha · 03/19 22:50
OPEC Update, March 2024
The OPEC Monthly Oil Market Report for March 2024 was published recently. OPEC expects robust growth in World Demand for Liquid fuel in 2024 and 2025. OECD commercial oil stocks are low. The OPEC estimate for future US tight oil growth in output is unchanged from last month. Preliminary January 2024 data shows total OECD oil stocks down by 26.8 Mb.
Seeking Alpha · 03/19 20:00
Crude oil climbs near five-month high; top oil execs rip calls for fast energy transition
U.S. Crude oil futures settle at their highest since late October. Ukrainian drone attacks on Russian refineries are believed to have idled a significant chunk of Russia's refining capacity. Chinese industrial production for January-February exceeded expectations. Oil industry execs oppose calls for a fast transition to fossil fuels.
Seeking Alpha · 03/18 23:25
U.S. And Japan: A Tale Of Two Overweights
Inflation is in the spotlight as the U.S. Federal Reserve and Bank of Japan hold meetings this week. Jean Boivin says markets see a positive near-term macro and corporate backdrop for the US and Japan. He says the BOJ is focused on keeping inflation sustainably at 2% and is overweight stocks in both countries.
Seeking Alpha · 03/18 16:05
Weekly Report: what happened at UCO last week (0311-0315)?
Weekly Report · 03/18 10:13
U.S. pump prices seen surging as refinery outages cut supply ahead of summer
U.S. Crude oil closed with slight losses Friday, but posted a 4% gain for the week. Crude prices rose to four-month highs as inventories for crude and gasoline fell by more than expected. Rising demand from U.S.-based refiners boosted gasoline prices this week.
Seeking Alpha · 03/15 22:50
Total U.S. drilling rig count jumps, recouping last week's drop
Total active drilling rigs in the U.S. Rose by 7 to 629, recouping last week's drop. Drilling rigs targeting crude oil in the Permian Basin rose by 6 to 510. Rigs in the Eagle Ford added 2 to 52.
Seeking Alpha · 03/15 18:00
Crude oil hits more than four-month high as IEA forecasts market deficit
Crude oil futures settle at four-month highs as IEA raises its forecast for oil demand growth this year. The International Energy Agency also forecasts a slight supply deficit through 2024. The IEA raised its 2024 demand growth estimate for crude oil by 110K bbl/day to 1.3M bbl.
Seeking Alpha · 03/14 22:50
Oil prices jump as U.S. crude and gasoline stockpiles drop more than forecast
Oil prices jump as U.S. Crude and gasoline stockpiles drop more than forecast. Brent crude oil climbs to four-month highs after surprise draw in domestic crude stockpiles and larger than expected drop in gasoline inventories. Oil prices also supported after Ukraine drone attacks on multiple regions in Russia.
Seeking Alpha · 03/13 22:50
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