One of the main factors that dragged down oil prices is the glut in oil supply, in part, driven by higher OPEC output. Low oil prices has already started to bring down output of non-OPEC countries. But is this enough…
Even though the price of oil has settled around $60, which represents a 14% gain since the beginning of the year, it hasn’t budged from this mark in the past month. Holders of shares of The United States Oil ETFÂ (USO),…
In the past few weeks oil has demonstrated signs of recovery. This rally was driven, in part, by the adjustments in market expectations of a slowdown in the U.S. oil production as major oil producers have been cutting down their…
The oil market has seen a sharp rise in prices last week, but it still below $50 per barrel. The recent developments in the oil market could suggest high volatility in prices in the near term and a potential rally…
The ongoing weakness in oil market has also dragged down the price of United States Oil Fund (USO), which has fallen by 10% since the beginning of year. Is Saudi Arabia capable of further driving down the price of oil?…
The current low oil prices have raised the interest of some investors to go long on oil in the hopes that prices will eventually recover to their levels recorded in the past couple of years. For those who consider taking…
The ongoing weakness in the oil market made me examine again the recent developments in the oil market. Some analysts suggest the growing U.S. production is the driving force behind the fall in oil prices. But I still think that…
The price of oil tumbled down last week to the mid 60’s and remained at this level since then. OPEC’s decision to keep its quota unchanged has fueled this plunge in prices. But the main issue will also remain the…
United States Oil (USO) tumbled down again in the past few months and reached its lowest level this year. Also, the price of WTI oil plunged by over 10% this month (up to date) to $82. Will prices keep coming…
United States Oil (USO) resumed its downward trend as it fell by nearly 3% since the beginning of October. Let’s review some of the latest developments related to USO that could impact its direction and performance. The chart shows the…