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iShares U.S. Oil & Gas Exploration & ETF News

$104.46
+1.67 (+1.62%)
At Close: May 17, 2024
Oil traders are worried that interest rates will stay at high levels for a long time.

Oil Trades Below $80, Cooper Hits High

11:47am, Tuesday, 14'th May 2024
Futures are little changed ahead of the April PPI report. Alan Knuckman discusses this, as well as how crude oil continues to trade below $80.
The crude oil market continues to see a lot of noise overall, as the market continues to try and find its footing. There are a few technical levels and indicators that are coming into the picture at t

Currie: Copper Is the New Oil

08:34am, Tuesday, 14'th May 2024
Jeff Currie, chief strategy officer at Carlyle Group, says copper is the new oil. He's also bullish on oil and shares his thoughts on gold demand "Bloomberg Surveillance.
Oil futures were little changed Tuesday morning after the Organization of the Petroleum Exporting Countries left its monthly forecasts largely unchanged and traders awaited U.S. inflation data.
OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024 on Tuesday and said there was a chance the world economy could do better than expected this year.
The crude oil market outlook is cautiously optimistic with expected OPEC+ cuts and possible US monetary policy easing boosting demand.
Oil prices rise as China's economic recovery sparks demand hopes, while Alberta wildfires threaten supply. Natural gas remains bearish below $2.39.
Indonesia launched its first oil and gas auction this year offering five blocks on Tuesday, while the government pledged to boost exploration in an effort to reverse output declines in a country that

Oil prices tick up on tighter supply outlook

08:54pm, Monday, 13'th May 2024
Oil prices rose on Tuesday as the supply-demand balance looked set to tighten on operational disruptions, stronger demand and voluntary output cuts.
China wants to raise 1 trillion yuan ($138 billion) to boost its economy, which is bullish for oil markets.
U.S. oil output from top shale-producing regions will rise in June to its highest in six months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Mo
Daan Struyven, Goldman Sachs head of oil research, joins 'Squawk Box' to discuss the state of the oil and commodities market, impact of high rates on oil prices, oil demand and supply trends, and more

Oil prices edge higher to kick off the week

06:56am, Monday, 13'th May 2024
Oil futures edged higher early Monday as traders weighed signs of soft fuel demand against expectations the Organization of the Petroleum Exporting Countries and its allies will extend production cuts
Given the current economic indicators and market sentiment, the outlook for crude oil prices remains bearish in the short term.
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