OIH

Weekly Report: what happened at OIH last week (0415-0419)?

U.S. restricts oil and gas drilling across Alaska's North Slope in new regulation

Oil Services Breaks Below 200-Day Moving Average - Notable for OIH

Oil Price Shock 2024: The Path To $300

Oil prices could face increased uncertainty – TD Securities

TD Securities says the outlook for oil prices could face increased uncertainty as geopolitical tensions continue to escalate in the Middle East. Oil currently trades near $85.20/bbl, higher in 2024 by 19.5%. The recent upswing in April has oil trading near highs not seen since late October of 2023.

Weekly Report: what happened at OIH last week (0408-0412)?

U.S. hikes royalty fees for drilling on federal lands for first time in a century

Energy U.S. Hikes royalty fees for drilling on federal lands for first time in a century. The Biden administration says it is increasing the costs for oil and gas companies to drill on public lands. The minimum amount companies can bid at auctions will increase to $10/acre from $2/acre.

OIH: Moving Higher With Crude Oil

VanEck Oil Services ETF has been catching up with crude oil prices. The low level of the U.S. Strategic Petroleum Reserve, or SPR, is bullish for crude oil. The election of the next president will likely determine the dominance of crude oil as an energy commodity. A break above technical resistance at the September 2023 high could ignite the oil services ETF.