Invesco Db Oil Fund ETF News

As Friedman diagnosed correctly, this rapid inflation was mainly caused by increases in the money supply of over 12% in the years 1971-72 and 1976-77. Instead, Burns attributed the price increases mainly to wage pressures, monopoly power, and the oil shock of the early 1970s. Sound familiar? Inflation is again soaring, and the Fed blames supply constraints caused by the pandemic while neglecting to look at the increasing money supply as the main cause.

Policymakers may be less likely to respond at this time as consumers and businesses have had more time to grow accustomed to prices around current levels.

Asia-Pacific markets were set to fall on Friday, tracking declines on Wall Street overnight.

The judge also queried the conduct of the federal prosecutor for filing a "dirty" plea bargain agreement which gave the oil thieves from whom the crude oil was recovered a soft-landing.

Crude oil production in Nigeria fell below 1.2 million barrels per day (bpd) in December 2021 from 1.28 million bpd in the previous month, according to the Organization of the Petroleum Exporting Countries (OPEC). The country generated 1.197 million bpd last month, OPEC said in its latest monthly report. The Nigerian Upstream Petroleum Resources Commission show that the highest volume of crude oil produced last year was about 1.43 million bpd (in March), compared to the production level of 1.86 million bpd in the 2021 budget. Continue reading Nigerias Daily Oil Production Falls Below 1.2 Million Barrels at BizWatchNigeria.Ng.

United States API Weekly Crude Oil Stock climbed from previous -1.077M to 1.404M in January 14

Expectation is the root of all heartache, a proverb that resonates particularly well with Asian refiners at the moment after yet another set of monthly OSPs failed to provide them with the outcome they expected. For many years, the Dubai cash-futures spread could be used as a relatively fireproof gauge of what the forthcoming month’s Middle Eastern OSPs would bring about. Over December, the Dubai M1-M3 backwardation eased substantially, with the monthly average lower by $1.65 per barrel, so it was natural that Asian buyers anticipated higher…

The Dow Jones Industrial Average traded choppily in today''s stock market and reversed earlier gains to a loss of around 117 points. The post Dow Jones Reverses Gains, Trades Lower; Oil Prices Continue Higher As Yields Cool appeared first on Investor''s Business Daily .

Goldman Sachs predicted this week that the price of oil could reach $100 per barrel this year a trend that would likely increase pressure on President Biden to address an ongoing energy crisis.

The Biden administration stands ready to deploy its tools to address the latest increase in oil prices, a spokeswoman for the National Security Council said this week. "We continue to work with producer and consumer countries and these steps have had real effects on prices and ultimately tools continue to remain on the table for us to address prices," Emily Horne said, as quoted by Reuters. "We will continue to monitor prices in the context of global economic growth and engage our OPEC+ partners, as appropriate." Horne also said. Last year,

The Iraq-Turkey oil pipeline is reportedly said to restart soon, Bloomberg reported, citing a Turkish official. The official said the pipeline flow wi

Oil buyers hoping to hold a topside breakout this week

We still have tools at our disposal to deal with rising oil prices and will engage OPEC as needed, said White House (WH) Spokesperson, per Reuters.

Little is known about the cause, but an explosion at a pipeline connecting Norther Iraq and the port of Ceyhan in the Mediterranean has taken 450kb/d of supply offline in an already

The report is here: MOMR January 2022 (PDF) In summary: OPEC expects the oil market to continue to be well supported this year, citing robust demand said once again that the impact of the omicron variant is projected to be mild and short-lived (on oil demand, not your health ;-) )