United States Oil Fund Lp ETF News

Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee.

TOKYO (AP) — Japan racked up a 2.2 trillion yen ($19 billion) trade deficit last month, an eight-year high, as the cost of energy imports soared, the government said Thursday. The Finance Ministry said exports edged up 9.6% in January from the same month the previous year. Imports jumped 39.6%, resulting in the sixth straight month of trade deficits, it said. The amount is the biggest since January 2014, when the trade deficit totaled nearly 2.8 trillion yen. Koya Miyamae, a senior economist at SMBC Nikko Securities, said the trade deficit tends to rise in January because of the New Year’s holidays, which pushes exports down. “But even taking that into consideration, the deficit is huge,” he said. Japan imports almost all its oil and gas. Prices have soared to multi-year highs recently, adding to global concerns about inflation. Tensions in Ukraine amid worries about a Russian invasion have pushed prices still higher. Meanwhile, Japan''s currency, the yen, has weakened against the U.S.

"We might witness some volatility due to weekly expiry and global scenarios in the near term. Hence, opt for a stock selective approach and avoid aggressive bets," said Sameet Chavan of Angel One.

* Prices pared back the gains in previous day trade * Iran could ramp up supplies faster in case of deal- analyst * Russia-Ukraine tension still simmering (adds South Korea-Iran oil talks; analyst comment) By Chen Aizhu SINGAPORE, Feb 17 (Reuters) -…

Oil tumbled on signs that an Iranian nuclear deal may be imminent, which could pave the way for a resumption of official flows from the Persian Gulf producer and ease tightness in the global market.

''Positive news from the U.S.-Iran nuclear negotiations is providing much-needed relief to global oil prices, as the possibility of new crude supplies reduces the supply-demand deficit,''

Consumers in India have enjoyed artificial respite from rising global prices since 4 November — crude has gone up by almost $14 a barrel — and oil companies need to make up for losses.

Crude oil futures were sharply lower in mid-morning Asian trade Feb. 17 as Iranian nuclear talks were nearing a deal, while US crude oil stocks unexpectedly rose last week. Physical crude, though, was seen surpassing $100/b. The bearish developments overshadowed reports of a build up of Russian forces on the Ukrainian border, contrary to Moscow''s claims of a pullback. At…

(Adds buyer, details) SINGAPORE, Feb 17 (Reuters) - Qatar Energy has sold al-Shaheen crude loading in April at record premiums, two trade sources who track the grade closely said on Thursday. The four cargoes were sold in a tender at an average premium…

Watch Video From crude oil rigs to the gas that ends up in your tank, it''s typically a long process that begins thousands of miles away. We picture scenes like oil rigs in Saudi Arabia. Barrels filled to the brim and shipped to the U.S. But that crude oil also comes from places like oil fields in western Siberia. Russia accounted for 11% of crude oil imports to the U.S. between January and October last year, surpassing even Saudi Arabia. Now, with a conflict brewing in eastern Europe, the U.S. reliance on Russian petroleum could come to a brutal head. At the center of it all: the threat of a Russian invasion of Ukraine and the global sanctions that would follow. "We''ve lived with this incredible stability in Europe for a very long time and I think we''ve taken that for granted," said Fritz Mayer, University of Denver''s Dean of the International Studies Program. A comment that rings more and more true as we look at the rising costs of oil. Especially with Russia being the third largest oil producer in the world. "Putin is making money off this crisis.

U.S. crude oil stockpiles rose unexpectedly last week, even as inventories at the key Cushing hub dropped to their lowest level since 2018 ~ EIA

The energy industry cut back during the pandemic, paving the way for a runaway rally that has huge implications for the global economy.

Alberta looks set to return to a budget surplus this coming fiscal year, ending seven years of deficit, as surging oil prices swell provincial royalty revenues

1) The US wants oil prices to be lower 2) Iran can add 500k bpd right away and another 500k bpd by year end That’s the recipe for a deal. There’s been a small further dip in oil prices on these headlines. Kani wrote: After weeks of intensive talks, we are closer than ever to […] The post Iran nuclear negotiator says ‘closer than ever’ to agreement appeared first on UK Stocks, Forex, Commodities, Crypto, Live Market News- Daily Forex News .