|Bid||22.76 x 1100|
|Ask||22.94 x 1300|
|Day's Range||21.65 - 23.86|
|52 Week Range||21.65 - 138.20|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-33.84%|
|Beta (5Y Monthly)||4.30|
|Expense Ratio (net)||1.17%|
Gains were fleeting for oil bulls following the U.S. airstrike in Iraq that killed an Iranian general, which saw prices skyrocket before subsequently falling as tensions began to subside. Putting further ...
In trading, there are definitely times when it's better to be lucky than good. Then there are times when a trader is good, but unlucky. Following news of the death of General Qassem Soleimani , a bloody ...
The United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund (NYSEArca: BNO), which tracks Brent crude oil futures, rallied again ...
Guyana sits alongside South America’s North Atlantic coast and this small country, which is just about the same size as the state of Idaho, recently joined the ranks of oil producing nations. “Guyana officially joined the ranks of oil producing nations, after ExxonMobil and its partners began oil production offshore the South American country,” an OilPrice.com report noted.
The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 1.1 million barrels for the week ended Dec. 13, which beat analysts’ expectations polled by S&P Global Platts. ...
NEW YORK, Nov. 21, 2019 /PRNewswire/ -- Direxion will execute the previously announced reverse share splits for the issued and outstanding shares of the Direxion Daily S&P Oil & Gas Exp. & Prod. The total market value of the shares outstanding will not be affected as a result of the split, except with respect to the redemption of fractional shares, as outlined below. After the close of the markets on November 21, 2019, the Fund will affect a reverse split of its issued and outstanding shares, with a 1 for 10 ratio.
The United States Oil Fund (USO), which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund (BNO) , which tracks Brent crude oil futures, slumped Tuesday as crude headed for its fifth loss in seven days on news that Russia may not want to reduce output. The expected global supply glut is also the latest threat to the Organization of the Petroleum Exporting Countries and other producers, which have already enacted production caps in an attempt to stabilize prices and balance the market.
NEW YORK, Oct. 21, 2019 /PRNewswire/ -- Direxion will execute a reverse split of the issued and outstanding shares of the Direxion Daily S&P Oil & Gas Exp. & Prod. The total market value of the shares outstanding will not be affected as a result of the split, except with respect to the redemption of fractional shares, as outlined below. After the close of the markets on November 21, 2019, the Fund will affect a reverse split of its issued and outstanding shares, with a 1 for 10 ratio.
The Organization of Petroleum Exporting Countries (OPEC) and its allied members could implement supply cuts in December, which should give oil traders a holiday season worth celebrating. OPEC will meet ...
The oil and gas industry is undergoing its own renaissance with the incorporation of disruptive technology like data analytics, machine learning and artificial intelligence based on an L.E.K. Consulting ...
Exchange-traded fund (ETF) traders armed with leverage are operating in a landscape where a U.S.-China trade war, inverted yield curves and other factors affecting global growth are making for a challenging ...
Volatile price moves in oil that could cause stomach-churning, rollercoaster-like oscillations could be behind us, according to oil expert Rusty Braziel. Braziel’s comments come after drone attacks in Saudi Arabia last week saw oil prices soar on supply disruption fears. The attacks were enough to cause U.S. President Donald Trump to announce that emergency oil reserves were at-the-ready if necessary.
First, the necessary disclaimer that leveraged exchange-traded funds should not be held for weeks or months on end. The long a leveraged ETF, the odds increase it will deviate from its underlying investment objective, potentially leaving traders with unpleasant surprises. There are times when some leveraged ETFs soar for extended periods of time and that has been happening this month for a trio of previously downtrodden leveraged energy funds.
As an attack on Saudi's oilfields massively disrupted production and shot up oil prices, leveraged oil and energy ETFs are likely to surge in the short term.
Rising tensions in the Middle East could spike oil prices further this week as events unfold following an attack on Saudi Arabian oil facilities over the weekend. This could hamper global supply, which ...
Whether oil prices rise or fall is not a major factor to the U.S., according to Dan Brouillette, the Deputy Secretary of the U.S. Department of Energy. What is of higher importance is that the U.S. achieves energy dominance. While a protracted U.S.-China trade war and slowing global growth could affect demand, resulting in lower oil prices, being the dominant player in energy is the modus operandi for the U.S.
It was a case of now you see it and now you don’t for oil traders this week as the Energy Information Administration on Thursday reported that U.S. crude supplies declined by 4.8 million barrels for the ...
China is the world’s largest oil consumer and as such, oil prices can hinge upon how well its economy is performing. For example, positive economic data from China helped spur a rise in oil prices on Wednesday. Per a CNBC report, “A private survey showed that activity in China’s services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in more than a year.
According to one analyst, oil prices must decline to $10 and $20 per barrel in order remain competitive in the ever-changing mobility sector. Oil prices have been racked by the market volatility due to fears of easing global demand due to the U.S.-China trade war. “We have to be very clear here,” said Mark Lewis, who is global head of sustainability research at BNP Paribas Asset Management, added.
On Wednesday, oil prices were up more than 1% after the latest data from the U.S. Energy Information Administration revealed a steep fall in U.S. crude stockpiles. Brent crude futures were1.7% higher to reach a price of $60.52 a barrel while WTI crude futures were 1.5% higher to $55.75 a barrel. Leveraged bull traders certainly cheered the move when it looked like worries of oversupply and weaker global demand would put downward pressure on oil prices.
In the last 10 years, the U.S. has been ramping up its oil production exponentially and its ready to produce even more, which could cause oil prices to underperform. Per a report by CNBC, “In the last decade, the U.S. has more than doubled oil production to 12.3 million barrels a day, making it the world’s largest producer. The Plains All American Pipeline’s Cactus II pipeline could exacerbate supply levels to the point of glut hurting oil prices.
The trade war impasse between the U.S. and China could keep bullish traders away from bold, leveraged plays in exchange-traded funds (ETFs). “Casting another dark cloud over the outlook for U.S. crude shipments is the ongoing U.S.-China trade impasse,” said Stephen Brennock, oil analyst at PVM Oil Associates. The U.S. China trade war could negatively affect crude oil shipments, which could tamp down any possible gains for oil prices.
The energy patch has been punished this month, particularly the volatile exploration and production stocks. The primary problem for exploration and production companies this year is that the U.S. is awash in crude and is pumping at record highs, relevant because most E&P firms operate in the U.S. The thing is, the world's appetite for oil is projected to wane over the near-term amid intensifying recession fears for major global economies.
Following the interest rate cut of 25 basis points by the Federal Reserve, oil began by falling below $65 a barrel on Thursday, and fell for the first time in six days. “We started off [the year]expecting some rate increases. “The Fed has capitulated to softer economic growth.
Geopolitical tensions are broadening to start the trading week, on news that Iran’s military late Friday seized a British oil tanker near the Strait of Hormuz, apparently in response to the U.K. capturing an Iranian vessel a couple weeks ago. Iran’s standoff with the U.S. and the U.K. has been escalating recently, and is likely to continue in the coming weeks, with the concern in the marketplace that a major U.S. military strike against Iran could disrupt oil shipping in the Persian Gulf. Oil prices rose more than 1% on Monday, as investors worried about possible supply disruptions in the energy-rich Middle East after Iran's seizure of a British tanker last week.