Proshares Ultra Bloomberg Crude Oil ETF News

The thinking re oil on getting the Iran nuke deal back is that (eventually) there will be more oil supply. Eventually.

Oil and gas facilities across the Permian Basin have "persistently" released large amounts of methane over the past three years, emitting the equivalent annual climate pollution from

Saudi Aramco (ARMCO) CEO Amin Nasser was in the press today discussing oil markets (USO) - demand is back, investment is low and consumption is undeterred by high prices. Demand is

Investments in crude oil this year in Canada could rise by as much as 22 percent, according to the Canadian Association of Petroleum Producers

Tanker, Bulker, LNG Rates Plunge, Container Rates Hold Near Top By Greg Miller of FreightWaves Its a tale of two shipping markets. Spot rates remain near historic highs for container shipping; the boom shows no sign of ending. But over in commodity shipping dry bulk, crude and product tankers, liquefied natural gas (LNG) carriers spot rates have now sunk below five-year averages. Crude tankers A bleak outcome, said brokerage BRS of the recent rates for very large crude carriers (VLCCs; tankers that carry 2 million barrels). A terrible start of the year, it said of rates for Suezmaxes (tankers that carry 1 million barrels). According to Clarksons Platou Securities, average global spot rates for 10-year-old VLCCs fell to just $800 per day on Wednesday. Thats down 90% month on month and down 70% on average year to date versus the same period in 2021, to just a sliver of the breakeven rate of $26,000 per day. (The assessment for the Middle East-China route has just fallen back below zero, to -$400 per day, implying that freight is not covering the cost of fuel .) The end of the holiday season didnt help push [VLCC] rates up, said brokerage Banchero Costa.

How do you explain the strength in crude

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.