Record Gasoline Glut Could Cause The Next Big Oil Price Crash

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From Nick Cunningham: Oil prices are stuck in a holding pattern, waiting for more definitive data on what comes next. OPEC compliance is helping keep prices afloat, but rising U.S. oil production is acting as a counterweight.
NYSE:USO February 21, 2017 6:19am

Why Are So Many Hedge Funds Bullish On Underperforming Oil?

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From Brian Noble: In a recent edition of his widely-followed newsletter (The Gartman Letter, 7 February 2017), commodities king Dennis Gartman observed that, “As of mid-week last week, the hedge fund community was long nearly 1.0 billion barrels of crude while short only a bit more than 100 million barrels. This is the most decidedly one-sided position held by the funds since the late winter of ’14.”
NYSE:USO February 19, 2017 6:49am

Record High Oil Inventories Crush Hopes For Oil Recovery

Image of oil drums
From Nick Cunningham: Another week brings yet more signs that the highly-anticipated oil market “balance” will not occur in the immediate future. Heading into 2017, there was a broad consensus that global oil production would fall below demand in the first half of the year, a deficit that would help bring down inventories and lead to relative balance between supply and demand.
NYSE:USO February 17, 2017 6:57am

Harsh Reality For Energy Giants: Weak Demand Is What’s Holding Oil Prices Down

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From Osama Rizvi: To the surprise of many, the OPEC and NOPEC deal is not only holding but overperforming. The compliance rate stands at 91 percent, with the recent OPEC Oil Market Report declaring a total cut of 890,000 bpd.
NYSE:USO February 16, 2017 10:32am

A Bloodbath Looms Over The Oil Markets

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From Nick Cunningham: Oil prices have traded reliably in the $50s per barrel since OPEC agreed to cut production last November, but having failed to break through a ceiling in the upper-$50s, crude prices are in danger of falling back again.
NYSE:USO February 15, 2017 6:55am

Is Oil More Likely To Go To $60 Or $50?

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From Nick Cunningham: The oil market is in a “wait-and-see mode” as OPEC implements its production cuts, with the record level of compliance boding well for tighter conditions, the IEA said in its latest Oil Market Report.
NYSE:USO February 13, 2017 6:31am

Oil Prices Stayed Afloat This Week On OPEC Deal Extension Talks

Image of oil drums
From Evan Kelly: Oil prices faltered midweek on growing concerns of oversupply, but rallied on Wednesday after the EIA reported a surprise drawdown in gasoline inventories.
NYSE:USO February 11, 2017 8:05am

Here’s Why Oil Prices Are Surging Today

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From Tyler Durden: Oil jumped this morning, with Brent rising 1%, trading above $56 after the International Energy Agency said OPEC had achieved record initial compliance of 90% with planned production cuts - it is unclear how much of this was self-reported and questionable - while demand grew faster than expected.
NYSE:USO February 10, 2017 10:22am

Some OPEC Members May Be Cheating On The Production Cut Deal Already

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From Nick Cunningham: OPEC provide a shot in the arm for oil prices this week when S&P Global Platts reported a much higher than expected compliance rate for the month of June. So far, OPEC has achieved 91 percent of its promised production cuts, impressing many oil watchers who expected mutual antipathy and mistrust to get in the way of cooperation.
NYSE:USO February 9, 2017 9:02am

Oil Prices Are Plunging Again After Tuesday’s Extremely Bearish API Report

Image of oil drums
From Julianne Geiger: U.S. crude oil inventories increased by a whopping 14.227 million barrels, according to this week’s American Petroleum Institute (API) inventory report published on Tuesday afternoon, pressing down further on already falling prices. 
NYSE:USO February 8, 2017 10:20am

Here’s Why Oil Prices Plunged On Monday

Image of oil drums
From Matt Smith: Rather than rallying like Tom Brady and the New England Patriots, oil instead was dropping faster than Lady Gaga's mic on Monday, ushered lower by a stronger dollar and ongoing expectations of an amply-supplied market. Hark, here are five things to consider in oil markets today.
NYSE:USO February 7, 2017 6:34am

Massive Gasoline Inventories Are A Huge Overhang For Oil Prices

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From Nick Cunningham: Oil and refined products inventories in the U.S. continue to climb at a worrying pace, raising some red flags for an oil market that was supposed to be on the mend.
NYSE:USO February 6, 2017 6:27am

Oil Bulls And Bears Engaged In A Price Tug Of War

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From Osama Rizvi: Since the Vienna oil deal (30th December) oil prices have been in a game of tug-of-war.
NYSE:USO February 5, 2017 7:13am

Here’s Why Oil Prices Will Stay Low For The Foreseeable Future

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From Todd Royal: Ever since OPEC announced their production cuts the markets have hit irrational exuberance without examining the factors for why oil isn’t rising anywhere near pre-crash levels.
NYSE:USO February 2, 2017 6:29am

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