United States Oil Fund Lp ETF News

New lockdowns dragged prices back below $100 a barrel, casting fresh uncertainty on a global economic expansion hamstrung by the war in Ukraine, rising inflation and the end of stimulus.

A record 81 people were executed in Saudi Arabia on March 12.

The Prime Minister will also visit the UAE after declaring the Gulf states ‘key international partners’ for ending ‘addiction’ to Russian oil.

UK Prime Minister Boris Johnson will meet with the crown princes of Saudi Arabia and the UAE March 16, his office said, seeking more oil supplies from the OPEC members as western powers continue to scramble for alternatives to Russian energy. Sanctions imposed on Russia''s financial sector have effectively cordoned off a significant chunk of the country''s more than 7…

President Joe Biden came into office with an agenda prioritizing a shift away from fossil fuels and to renewable energy. He also signaled early on that his administration would be revising U.S. relations with nations that have traditionally been considered close allies, such as Saudi Arabia. Now, those agendas have been trumped by a much bigger and more immediate problem: keeping gasoline affordable for Americans and reining in runaway inflation, which hit the highest in four decades in January and then beat that in February. And all that was before…

Airline stocks rose on strong guidance and lower oil prices. ANIP and COUP plunged on earnings news. ABBV set a fresh high. AKAN jumped in its first session following an IPO.

A recap of Tuesday''s best stock picks on CNBC.

The price of oil tumbled more than 7 percent on March 15 to its lowest level three weeks, despite supply disruptions caused by the conflict in Ukraine and surging COVID-19 cases in China. The steep decline followed after supply disruption fears eased when Russia’s Foreign Minister Sergei Lavrov stated that Moscow is in favor of resuming the […]

Stocks rebound ahead of the Fed decision tomorrow. Sarah Bloom Raskin withdraws nomination for Fed WTI crude oil futures settle at $96.44 CBOT Wheat futures higher and retest broken 100/200 hour MAs ''Peace'' trades cool after Putin comment as the Fed countdown begins Europea

The Russian war in Ukraine exposed Europe’s high energy dependence on Russian oil and gas and made Western governments rethink their energy policy strategies. Some, like the United States and the United Kingdom, which can afford to go without Russian fossil fuels without a massive hit to their energy supply, industries, and economies have banned imports of Russian oil, or in the UK’s case, plan to phase out such purchases by the end of the year. Most others in Europe are not so lucky. Not only cannot they cut themselves…

https://www.investing.com/news/commodities-news/oil-inventories-rise-by-38m-barrels-last-week-api-2785306

Tom Lee is a managing partner and head of research at Fundstrat Global Advisors. On CNBC’s "Fast Money," he continued his bullish bias Tuesday on energy stocks over oil stocks by comparing oil prices to household items by the barrel. Oil is still cheap and the burden is quite small comparatively, he said. “If you’re paying … Full story available on Benzinga.com

The American Petroleum Institute (API) estimated that there was a surprise build this week for crude oil of 3.754 million barrels, compared to analyst predictions of a 1.867 million barrels draw. U.S. crude inventories have shed some 73 million barrels since the start of 2021 and about 16 million barrels since the start of 2020. In the week prior, the API reported a build in crude oil inventories of 2.811 million barrels after analysts had predicted a draw of 833,000 barrels. Oil prices were trading down sharply on Tuesday—continuing Monday''s…

The inventory data from the private survey is out now, official data follows Wed. morning (US time)

With record breaking fuel increases and home-heating oil prices spiralling out of control the cost of living has never been higher for the everyday citizen.