Spdr(r) S&p(r) Oil & Gas Exploration & Production Etf ETF News

The Kremlin said its decision was in response to Western price caps on Russian oil.

Russia's output cut follows through on earlier threats to retaliate against Western sanctions.

Jeff Currie, Goldman Sachs head of commodity strategy, joins 'Squawk Box' to discuss what commodity means, how investors can think about Russia's decision to cut oil production, and more.

Prices surge more than 2% on Friday and are on track to gain 8% this week.

Russia will reduce its oil output by 500,000 barrels per day in March, Deputy Prime Minister Alexander Novak said on Friday.

Crude prices jumped on Friday after Russia announced a retaliatory move against western price caps with a plan to reduce oil output by 500,000 barrels per day in March.

Crude oil markets have pulled back just a bit during the trading session on Thursday, as the 50-Day EMA has been very resistive.

A jump in U.S. oil inventories and a stronger U.S. Dollar are offsetting the optimism that had been building over recovering Chinese demand.

Oil futures traded slightly higher early Thursday after shaking off a seventh straight weekly rise in U.S. crude inventories during the previous session.

On CNBC’s “ Halftime Report Final Trades ,” Bryn Talkington of Requisite Capital Management chose SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA: XOP) as her pick. Talkington said that “a good cover call strategy would be to sell the June 134s,” which gives 9% upside on the … Full story available on Benzinga.com

Stocks Analysis by Zacks Investment Research covering: State Street Corp, Marathon Oil Corporation, Callon Petroleum Company, SM Energy Co. Read Zacks Investment Research''s latest article on Investing.com

With the beginning of a coordinated campaign of strategic petroleum reserve releases and the threat posed by the new Omicron variant of Covid-19, traders have piled into oil shorts on the expectation of a pick-up in supply and a hit to demand. However, the cyclical fundamental problem of a lack of incentive for new oil [] The post Oil Stocks Set to Reap Huge Benefits from Undersupply Regime (PXD, CEI, MTDR, FANG, HP, HES, OIH, XOP) appeared first on Wall Street PR .

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