No Matter How You Slice It, The Crude Oil Market Is Coming Into Balance (USO)

Image of an oil derrick with blue sky
From Steven Vannelli, CFA: As the title suggests, any way we slice the data, it appears that the crude oil market is coming into balance to a greater extent than is generally recognized. This has broad asset allocation implications.
NYSE:USO August 18, 2017 6:14am

Here’s One Reason To Be Bullish On Oil (USO)

From Nick Cunningham: One of the key objectives for OPEC is to bring down inventories, a goal that has been elusive this year. But if the oil futures curve is anything to go by, the oil market is showing signs of tightening.
NYSE:USO August 17, 2017 6:30am

Oil Prices Rally On Surprise Inventory Draw (USO)

From Julianne Geiger: The American Petroleum Institute (API) reported a major draw of 9.2 million barrels in United States crude oil inventories--the biggest draw since September 2016.
NYSE:USO August 16, 2017 6:35am

Lack Of Supply Could Be Oil’s Next Big Catalyst (USO)

From Nick Cunningham: Oil lost ground in the last few days on slipping OPEC compliance rates and fears of persistent oversupply. But the tightening of the oil market is still proceeding, and there are some signs that the more pessimistic projections about oil prices could be overblown.
NYSE:USO August 15, 2017 6:40am

Can Oil Hang On When The OPEC Deal Expires? (USO)

From Nick Cunningham: The oil market is still on track to rebalance, although the pace is "stubborn" and will still take some time, the IEA said in a new report.
NYSE:USO August 14, 2017 6:24am

Oil’s Recent Bounce Appears To Be Over (USO)

From Tom Kool: Despite bullish conditions led by a huge drawdown in U.S. crude, oil prices were down at the end of the week following less than positive OPEC reports.
NYSE:USO August 12, 2017 6:37am

Futures Market Sending Bullish Message For Oil (USO)

Image of an oil derrick with blue sky
From Nick Cunningham: The EIA reported another strong week of inventory declines in its most recent data release, revealing a drawdown of 6.5 million barrels for the week ending on August 4. That means that the U.S. has now pulled more than 60 million barrels from storage since inventories peaked in March at 535 million barrels.
NYSE:USO August 11, 2017 9:57am

There’s Very Little Upside Left For Oil (USO)

From Nick Cunningham: Oil investors have grown more optimistic as of late, as oil prices have moved back to $50 per barrel. The market appears to be on sounder footing, suggesting that things will gradually tighten for the rest of the year. But it is unclear how far oil prices can really move above today's position.
NYSE:USO August 10, 2017 6:19am

Plenty Of Reasons To Be Bullish On Oil Right Now (USO)

Image of an oil derrick with blue sky
From Mike Burnick: The 19% rally in crude oil prices from the late June low has been impressive. But I think there's more gas in the tank for this advance.
NYSE:USO August 8, 2017 6:21am

Banks Cut Oil Price Outlook, Oil Rally Stalls (USO)

Image of oil drums
From Tom Kool: After a month-long rally oil prices appear to have stagnated this week, although a falling rig count gave prices a slight boost on Friday.
NYSE:USO August 5, 2017 7:23am

U.S. Oil Production Not All It’s Cracked Up To Be (USO)

From Nick Cunningham: Oil is back at $50 per barrel, restoring some semblance of confidence in the market. But that is just about as much as we can expect in terms of a rally, according to most analysts, with momentum likely to dissipate from here.
NYSE:USO August 4, 2017 7:16am

Now Oil Investors Are Getting Too Bullish (USO)

Image of an oil derrick with blue sky
From Irina Slav: Optimism, at first tentative and in the last week more pronounced, has been taking over oil markets. Short positions on WTI were at a three-month low as of Monday, according to Bloomberg, while long positions continued to rise.
NYSE:USO August 3, 2017 6:44am

Oil Plunges As Inventories Unexpectedly Rise (USO)

From Julianne Geiger: The American Petroleum Institute (API) reported a surprise build of 1.779 million barrels in United States crude oil inventories, compared to S&P Global Platts survey of analysts who expected a draw of 2.8 million barrels for the week ending July 21. This week's build comes after a major draw last week.
NYSE:USO August 2, 2017 8:03am

Crude Oil Facing A Heavy Resistance Test Once Again (USO)

From Chris Kimble: Crude Oil is worth about a third (down 65%) of what it was worth back in 2008. It's lost about half of it value from just three years ago (2014 highs).
NYSE:USO August 1, 2017 11:00am

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