Why The Latest Oil Price Rally Will End Soon (USO)

Image of oil drums
From Nick Cunningham: Last week, crude oil rallied the most so far this year, gaining more than 8 percent, or $4 per barrel. Oil traders are much more optimistic than they were just a month ago, and the market is on the upswing.
NYSE:USO August 1, 2017 6:41am

U.S. Shale’s Spending Shutdown Is Spiking Oil Prices (USO)

shale-oil
From Tsvetana Paraskova: Seven months into the OPEC production cut deal, oil prices are not higher than they were at the end of last year, as the stubborn global inventory overhang and rising U.S. output have been offsetting price gains.
NYSE:USO July 31, 2017 6:09am

Here’s Why Oil Prices Surged Last Week (USO)

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From Tom Kool: Oil prices posted their biggest weekly gain so far this year, with Brent solidly above $50 per barrel and WTI not far behind.
NYSE:USO July 30, 2017 6:39am

Is Oil’s Latest Bounce For Real This Time? (USO)

oil-derrick
From SCS OTC Corp: WTI registered its best week of the year on strong fundamental data, OPEC progress and currency tailwinds. The physical market is showing signs of health with sharp inventory draws on a global level in crude oil and refined products which have been cheered by tightening differentials and time spreads to their highest levels in months.
NYSE:USO July 29, 2017 7:25am

Here’s Why Oil Prices Are Headed Higher (USO)

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From Mike Burnick: Commodities are, for the most part, performing well so far in 2017. However, you would never know it by looking at the energy complex.
NYSE:USO July 27, 2017 8:23am

Crude Oil Prices Surge Amid Massive API Draw (USO)

oil-barrels
From Julianne Geiger: The American Petroleum Institute (API) reported a huge draw of 10.23 million barrels in United States crude oil inventories, compared to S&P Global Platts survey of analysts who expected a draw of only 2.5 million barrels for the week ending July 21.
NYSE:USO July 26, 2017 6:25am

Iraq’s Participation In OPEC Production Cuts Is Over (USO)

iraq
From Irina Slav: Iraq's crude oil output could hit 5 million barrels daily by the end of the year, the country's Oil Minister Jabar al-Luaibi told Iraqi media, adding that these projections "will not be affected by any fluctuations".
NYSE:USO July 24, 2017 12:46pm

Can Oil Recover From Falling OPEC Compliance?

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From Tom Kool: Oil prices fell on Friday after preliminary reports showed that OPEC's July output has increased once again while deeper cuts remain unlikely
NYSE:USO

Don’t Expect Much More Upside For Oil (USO)

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From Nick Cunningham: The most recent report on the U.S. oil market offers a mix of data, providing ammunition for both oil bulls and bears alike. One can find whatever they want in the data. Looking for signs that the oil market is moving towards balance? There's a strong inventory decline for you. 
NYSE:USO July 21, 2017 7:49am

Surprise Oil Draw Sends Crude Prices Even Higher (USO)

Image of an oil derrick with blue sky
From Irina Slav: The Energy Information Administration offered jittery oil markets respite Wednesday by reporting a draw of 4.7 million barrels in U.S. commercial oil inventories.
NYSE:USO July 20, 2017 5:46am

Oil Bounce Continues, Despite Rising Inventories (USO)

Image of oil drums
From Julianne Geiger: The American Petroleum Institute (API) reported a build of 1.628 million barrels in United States crude oil inventories, compared to analyst's expectations that this week would see a draw of 3 million barrels for the week ending July 14.
NYSE:USO July 19, 2017 6:26am

Oil’s Next Stop: $50 Per Barrel (USO)

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From Nick Cunningham: "I think there is a high probability that we could see [WTI] rallying back to $50," Bob Parker, member of the investment committee at Quilvest Investment Management, said on Bloomberg TV.
NYSE:USO July 18, 2017 6:34am

OPEC’s Oil Production Cuts Have Officially Failed (USO)

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From Irina Slav: One commodity analyst got it right: the OPEC cuts would not work. After November last year when the oil cartel announced its agreement with Russia and 11 other producers to curb production in a bid to prop up prices, the overwhelming mood was optimistic.
NYSE:USO July 17, 2017 6:14am

Oil Posts Solid Weekly Gains, But They Won’t Last (USO)

oil-barrels
From Tom Kool: Oil prices posted some solid gains this week, but with the market outlook remaining gloomy, a continuation of this upward trend looks unlikely to last long.
NYSE:USO July 15, 2017 7:23am

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