Don’t Expect A Breakout In Oil Prices This May

Image of an oil derrick with blue sky
From Taki Tsaklanos: The price of crude oil was weak last week. Crude oil dropped from $53.20 early in the period, to $49.62 on Friday. That is a 6.7 percent drop in a week, which is rather significant -- even for a volatile asset like crude oil.
NYSE:USO April 23, 2017 6:33am

How Much Further Can Oil Prices Fall?

Image of an oil refinery
From SCS OTC Corp: The majority of recent oil market coverage has focused on bearish flies in the physical rebalance ointment including elevated OECD crude + refined product stocks and higher than forecast US production.
NYSE:USO April 22, 2017 7:28am

USO Crude Oil ETF Sees Outflows Begin As Performance Slumps

Image of oil drums
Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows report, which today looks at an interesting new fund debuting today, some more outflows in the world's largest ETF, and poor performance from a major crude oil ETF.
NYSE:USO April 21, 2017 12:47pm

Oil’s Plunge This Week Was Predicted By Bearish Technical Pattern

From Corey Rosenbloom: Crude Oil plunged toward the $50.00 per barrel level, collapsing from negative divergences into resistance.

Wall Street’s Bullish Oil Price Predictions Are Likely Wrong Again

From Gregory Brew: Despite prices levelling off and a continued resurgence in American production, bullish predictions on future prices are stacking up as analysts weigh in on where oil is headed.
NYSE:USO April 20, 2017 7:01am

Crude Oil Plunges As Production Surges To 20 Month Highs

oil gas 600X300
From Tyler Durden: Following API's surprise gasoline build (and small crude draw), DOE confirmed concerns with a surprise build in gasoline inventories.
NYSE:USO April 19, 2017 11:16am

Oil’s Recovery Stalls Amid Surprisingly Low API Draw

Image of oil drums
From Julianne Geiger: The American Petroleum Institute (API) reported a draw of 840,000 barrels in United States crude oil inventories, compared to analyst expectations for a healthier crude oil draw of 1.5 million barrels.

Who — Or What — Is Behind Oil’s Recent Price Surge?

From Brian Noble: We have seen before how machines, or more precisely the algorithmically programmed computers, are increasingly responsible for setting prices in the WTI futures pit.
NYSE:USO April 18, 2017 6:30am

OPEC Nations Are In Trouble If Oil Doesn’t Get Back To $60 Per Barrel

From OPEC officials told The Wall Street Journal last week that the bloc’s biggest members are hoping for a $60 barrel from their oil supply rebalancing efforts that are currently underway.
NYSE:USO April 17, 2017 2:08pm

Here’s Why Oil Prices Spiked This Week

Image of an oil derrick with blue sky
From Tom Kool: Oil posted some solid gains this week on outages in Libya, further confidence in an OPEC extension, and the first sizable drawdown in U.S. crude stocks this year. The IEA added its voice to the growing chorus of analysts seeing light at the end of the tunnel.
NYSE:USO April 15, 2017 6:04am

Goldman Sachs Maintains $50 Oil Price Forecast

Image of oil drums
From Irina Slav: Goldman Sachs is standing by its own base oil price scenario of $50 a barrel, anticipating a stable future for the commodity, with price fluctuations in the range of 10-20 percent and no tumultuous ups and downs.
NYSE:USO April 14, 2017 6:57am

Will Shale Kill Off The Oil Price Rally Again?

fracking shale gas
From Nick Cunningham: WTI has rallied more than 11 percent over the past month, raising hopes from oil bulls that maybe, just maybe, the price gains are here to stay.
NYSE:USO April 13, 2017 6:28am

Crude Rallies Again Amid Massive Oil & Gasoline Draw

From Julianne Geiger: The American Petroleum Institute (API) reported a draw of 1.3 million barrels in United States crude oil inventories, compared to analyst expectations for a crude oil build of 125,000 barrels.
NYSE:USO April 12, 2017 6:35am

Oil Suddenly Looks Bullish Amid Rising Geopolitical Turmoil

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From Nick Cunningham: The surprise airstrikes by the U.S. on a Syrian airfield late last week brought an element of geopolitical risk back to the oil markets, adding support to crude prices.
NYSE:USO April 11, 2017 12:51pm

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