21.95 +0.20 (0.92%)
Pre-Market: 8:28AM EDT
|Bid||0.00 x 1100|
|Ask||21.50 x 1400|
|Day's Range||20.62 - 24.13|
|52 Week Range||11.93 - 75.00|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||N/A|
|Expense Ratio (net)||0.49%|
The United States Oil Fund (USO) , which tracks West Texas Intermediate crude oil futures, struggled early in the third quarter with oil prices residing near where they did in the first quarter. Investors considering USO or other oil exchange traded products have several factors to consider including the Organization of Petroleum Exporting Countries (OPEC). The International Energy Agency projects consumption to increase each quarter of 2019 year-over-year, albeit at a slower-than-usual pace for the first quarter.
Oil bulls could be expecting more gains for oil prices after the most important oil producers in the world are indicating an extension of a deal to curb oil production is likely. This news comes ahead of an Organization of the Petroleum Exporting Countries (OPEC) meeting along with its allies in Vienna this week. OPEC member Iran called for cooperation among the oil cartel's members.
Rather than resort to war, U.S. President Donald Trump decided to bring down the hammer with more sanctions on Iran in response an unmanned U.S. drone being shot down the previous week. As U.S.-Iran relations remain tenuous, oil traders could be eyeing more price increases for the commodity, but are they overestimating the impact of the latest sanctions? “We will continue to increase pressure on Tehran until the regime abandons its dangerous activities,” including its nuclear ambitions, Trump told reporters in the Oval Office. “We do not seek conflict with Iran or any other country,” Trump added.
Oil prices could maintain their support levels this week as tensions between the United States and Iran continue to play out with U.S. Secretary of State Mike Pompeo saying that "significant" sanctions could be in store for Iran. “The Middle East clashes should support oil prices at the start of the week as crude markets will wait to see Iran’s response to the threat of additional sanctions, ” said Edward Moya, senior market analyst at OANDA in New York. An unmanned U.S. drone was shot down by Iran last week, which fanned the flames of growing tensions within the Middle East.
The push-and-pull of Middle East tensions and slowing global growth is leaving prices for the oil in flux. Declining business sentiment is also feeding into the slowing global growth narrative, but how does all the news affect oil prices in the future? Oil prices tumbled more than 20 percent since the end of April due to fears of global demand as fears of slower growth worldwide are taking hold of the commodity.
Geopolitical oil supply disruptions could continue to feed into higher oil prices, which will benefit bullish bettors. Attacks on two oil tanker ships off the coast of Iran sent oil prices upward as finger pointing between the United States and Iran ensued. U.S. intelligence was quick to identify Iran as the culprit of the attacks.
Given the abrupt changes in oil price and an uncertain outlook, investors should place their bet on oil ETFs cautiously or could take advantage of the quick turn in sentiment with the help of ETFs.
Oil prices have tumbled more than 20 percent since the end of April due to fears of global demand as fears of slower growth worldwide are taking hold of the commodity. It didn’t help that the U.S.-China ...
Supply cuts by the Organization of Petroleum Exporting Countries (OPEC) have pushed oil prices down, but downward forces from trade wars have also kept them in check. Will continued growth worries keep ...
Last month, oil continued its serendipitous climb following U.S. President Donald Trump ending waivers on companies wishing to purchase Iranian oil without facing stiff sanctions. The companies affected ...
Oil prices retreated recently as traders are eagerly anticipating the release of inventory data. The U.S.-China trade deal standoff has investors fretting as of late, but oil and gas operators have no reason for pessimism despite these trade deal woes. According to a study by L.E.K. Consulting, oil and gas operators are feeling optimistic when it comes to the commodity for the rest of 2019.
Saudi signals ouput cut can be prolonged to the second half of 2019. Leveraged energy ETFs are likely to gain if the move becomes a reality.
The U.S.-China trade deal standoff has investors fretting as of late, but oil and gas operators have no reason for pessimism despite these trade deal woes. According to a study by L.E.K. Consulting, oil ...
A surprise fall in U.S. crude stockpiles should've translated into strength for oil prices, but trade war fears continued to roil the markets. Oil fell as much as 1 percent on Thursday as investors continue to sit on their hands waiting for a U.S.-China trade deal. Brent crude oil futures and U.S. West Texas Intermediate (WTI) crude futures both fell 1 percent earlier in the day.
Leveraged and inverse products have given investors access to an investment space that was typically relegated to only high-net worth individuals or institutions. With the transparency and liquidity of ...
Oil climbed on Monday following U.S. President Donald Trump ending waivers on companies wishing to purchase Iranian oil without facing stiff sanctions. The price of Brent crude went up by 2.77 percent ...
Global investment bank RBC Capital Markets is expecting more increases in oil prices, going as far as saying that crude could reach the $80 price level this summer. Overall, RBC Capital Markets is forecasting ...
As the first quarter of 2019 has come to a close, these 10 ETFs and ETNs have led this investment category in gains for the first three months of this year. As you can see from the list, exchange traded products tied to the price of oil were among the top performers, as crude prices surged on production cuts.
As the first quarter of 2019 draws to a close, leveraged exchange-traded fund (ETF) traders have seen oil and technology take the top spots for year-to-date gainers. 2019 started off strong for U.S. equities–the ...
The Zacks Analyst Blog Highlights: United States Oil, United States Brent, ProShares Ultra, ProShares UltraPro and DB Crude
Given the clouds over the outlook for oil investment, investors should place their bet on oil ETFs cautiously or could take advantage of the quick turn in sentiment with the help of leveraged or inverse ETFs.
Many investors have turned bullish on oil and are seeking to tap this opportunity. For them, a leveraged play on the commodity could be an excellent idea.
Amid the renewed optimism, many investors have turned bullish on the energy sector and are seeking to tap this opportunity. For them, a leveraged play on energy or oil could be an excellent idea.
Thus far in 2018, adding higher oil prices to leveraged exchange-traded products (ETPs) has created a combination of combustible profits for traders. As such, leveraged oil plays have had bullish traders gushing as oil prices continued their ascent on the latest supply data from the U.S. Energy Department.
Indications that oil supply could be tightening have continued to send oil prices on their upward trajectory, which have benefitted leveraged exchanged-traded products tied to the commodity's price. Currently, the price of WTI Crude stands at $72 and Brent Crude at just under $82, but the idea of $100 oil prices have already entered into the realm of possibilities by the end of this year. Earlier this week, U.S. President Donald Trump prodded the Organization of the Petroleum Exporting Countries (OPEC) to ramp up production levels in order to temper oil prices ahead of mid-term Congressional elections.