UCO

Top oil ETF slammed with record outflow as geopolitical fears fade

Top oil ETF slammed with record outflow as geopolitical fears fade. U.S. Crude oil futures close lower as gasoline demand for gasoline outweighs the first drop in commercial crude supplies in five weeks. The biggest oil fund posted its largest daily outflow on record Wednesday. Crude prices lost some of the geopolitical premium.

Equities Play A Waiting Game

Consumption continued to drive growth in the first quarter. The waiting game continues for the U.S. Federal Reserve and other major central banks to cut interest rates this year. 2024 is shaping up to be a “normal” expansionary year with healthy levels of economic growth and inflation.

Crude inventory decreased by 6.4M barrels for week ended April 19 - EIA

Crude inventory decreased by 6.4M barrels for week ended April 19 - EIA. Commercial crude stocks for the week ending April 19: 453.6M barrels. Crude inventory change: -6.4m barrels. Gasoline and distillates inventories decreased by 0.6m barrels for the same week.

Analyst Currie sees chances for $100-plus oil 'extraordinarily high'

Commodities Energy Analyst Currie sees chances for $100-plus oil 'extraordinarily high' Crude oil futures finish higher Tuesday. Euro zone business activity expanding at fastest pace in nearly a year. Focus shifts away from Middle East tensions to economic indicators and supply and demand balances.

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

Commodity Roundup: Oil sheds over 2%, gold down 1% as Mideast tensions ease

Commodities Energy Commodity Roundup: Oil sheds over 2%, gold down 1% as Mideast tensions ease. Crude oil prices fell more than 2% on Monday as Middle East tensions eased. Brent futures fell 0.58% to $86.58 a barrel. Gold prices retreated as well, registering a third consecutive weekly loss.

Iran oil sanctions part of U.S. aid package for Ukraine, but little disruption seen

Energy Iran oil sanctions part of U.S. Aid package for Ukraine, but little disruption seen. Chinese independent refiners account for 80% of Iran's 1.5M bbl/day in oil exports. Iran is exporting more oil than at any time in six years.

Short-Term Energy Outlook, April 2024

EIA expects the 2018 peak for annual average World C+C output will be surpassed in 2025. Working natural gas in storage is forecast to be significantly above the 5-year average in 2024 and 2025. The EIA expects Inflation to reach the 2% target in late 2024.