NYSEARCA:PXJ

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$43.24
+0.560 (+1.31%)
At Close: Jun 04, 2026

Hamm Says Oil Could Reach $80 by Year's End

02:39pm, Thursday, 03'rd Aug 2023
Billionaire shale pioneer and Continental Resources Chairman Harold Hamm says the US could be producing even more oil than it does now. He expects crude to finish the year in the high $70s or low $80s
Oil markets are moving higher as traders focus on tight supply.
Crude oil markets have stabilized a bit during the trading session as the market has seen so much in the way of selling pressure during the previous session.
Oil futures were slightly lower early Thursday, extending a decline after a downgrade of the U.S. credit rating dented sentiment across markets, offsetting a record drop in U.S. crude inventories.
Oil prices hold steady amid credit downgrade impact, supported by producers' cuts, and boosted by record stockpile drop reflecting demand surge.
Oil prices rose slightly in early Asian trading on Thursday, as markets weighed bullish U.S. inventory data on Wednesday and a likely extension of OPEC+ output cuts against the fallout of Fitch's down
The sell-off in the oil markets was triggered by U.S. debt downgrade.

Crude Inventories Decline By 17 Million Barrels

10:49am, Wednesday, 02'nd Aug 2023
Oil markets are moving lower as traders take some profits off the table after the recent rally.
Oil needs to pullback. We are starting to see a little bit of hesitation, so now it is a matter of waiting for value.
Oil futures rose Tuesday, lifted after industry data showed a huge drop in U.S. crude inventories last week, signaling strong demand.
Some banks say Brent could rise toward $100 a barrel, as the economic outlook improves and supply cuts start to bite.
Crude oil prices surged nearly 1%, hitting their highest level since April, as robust demand from the US offset demand concerns in other regions.
Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the U.S., the worl
Oil prices surged in July having logged a monthly gain in over a year. These energy ETFs gained on this trend.
Brent oil climbed back above the $85.00 level, while WTI oil moved closer to the $82.00 level.
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