Oil Prices Will Never Recover Until Global Inventories Correct

Image of an oil derrick with blue sky
From Art Berman: WTI futures fell $2.86 from $53.14 to $50.28 per barrel, and Brent futures dropped $3.81 from $55.92 to $52.11 per barrel. WTI is trading below $49 and Brent below $52 per barrel at the time of writing.
NYSE:USO March 10, 2017 6:40am

Oil Is Testing The Critical $50 Level, With Major Downside Risk In Play

interest rates bonds 600X300
From Taki Tsaklanos: Crude oil fell more than five percent on Wednesday, and closed the trading session right above the highly important $50 per barrel level.
NYSE:USO March 9, 2017 7:20am

Oil’s Price Crash May Only Just Be Getting Started

From Corey Rosenbloom: I’ll be honest -- I stopped caring about Crude Oil for most of 2017 because it’s been in a flat, sideways trading range.

IEA Calls For Huge Oil Price Spike In Coming Years As Supply Wanes

Image of oil drums
From Nick Cunningham: Three years of drastic cuts to upstream spending because of the meltdown in oil prices could result in a shortage of oil supply in a few years, according to a new report from the International Energy Agency.
NYSE:USO March 8, 2017 9:12am

Fitch Predicts $40 Oil If U.S. Production Keeps Ramping Up

From OilPrice.com: Oil bigwigs should take a step back before becoming too comfortable with the new oil price range according to Fitch Ratings’ newest market analysis.
NYSE:USO March 7, 2017 6:28am

OPEC Might Have To Cut Oil Production Again This Year

From Tsvetana Paraskova: OPEC’s coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year.
NYSE:USO March 6, 2017 5:57am

OPEC’s Surprisingly High Compliance Rate Saves Oil For The Time Being

From Evan Kelly: Oil prices dropped to a three-week low on Thursday following a bearish data release from the EIA. Crude inventories broke a new record at 520.2 million barrels, and U.S. oil production figures jumped to 9.032 million barrels per day, a gain of 31,000 bpd from the previous week.
NYSE:USO March 5, 2017 7:15am

Technicals Show That Crude Oil Is At A Critical Make-Or-Break Level

Image of an oil derrick with blue sky
From Chris Kimble: One year ago Crude Oil was falling hard, as it was down nearly 50% over the prior 12 months. How things have changed a year later, as crude is now up 50% from the lows of 2016.
NYSE:USO March 2, 2017 10:48am

U.S. Oil Inventories Once Again Hit Record Levels

Image of oil drums
From Julianne Geiger: The American Petroleum Institute (API) reported a build of 2.502 million barrels in United States crude inventories, against expert predictions that domestic supplies would see a 2.8-million-barrel build.
NYSE:USO March 1, 2017 6:35am

Futures Market Offers A Glimmer Of Hope For Higher Oil Prices

Image of an oil derrick with blue sky
From Nick Cunningham: U.S. oil inventories are at record levels, but there are a few glimmers of hope that the glut could be starting to subside.
NYSE:USO February 28, 2017 9:12am

U.S. Oil Producers Pick Up Where OPEC Left Off With Massive Exports

oil drum
Looking at the U.S. energy sector, crude exports have never been stronger. After Congress lifted the U.S. oil export ban in December 2015, exporters didn’t hesitate to turn on the spigots.
NYSE:USO February 27, 2017 3:53pm

Oil Prices At Extreme Risk Of Collapse As Bullish Speculation Hits New Highs

Oil prices were modestly higher on Monday morning, but a dubious milestone among energy traders may prove to be a prescient warning about another major pullback in oil prices.

Here’s What Kept Oil Prices Low This Week

Image of oil drums
From Evan Kelly: Oil prices gained some ground this week on the drawdown in gasoline stocks in the U.S., which the markets interpreted as a sign that the glut could be easing. However, on Friday, oil prices fell back a bit on concerns that there is still just too much supply out there.
NYSE:USO February 25, 2017 7:25am

U.S. Oil Refiners Slash Production As Gasoline Inventories Hit 27-Year High

Image of oil drums
From Nick Cunningham: In a sign that the gasoline glut is not going away, U.S. refiners are succumbing to poor market conditions, reluctantly moving to cut back on production as they drown in oversupply.
NYSE:USO February 24, 2017 9:15am

Recommended for You

Explore More from ETFDailyNews.com

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again!

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories