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Oil Traders Pump a Record $500 Million Into One Fund as Prices Plunge

(Bloomberg) — One oil exchange traded fund pulled in a giant amount of cash last week as some investors piled into the market during its worst rout in months. WisdomTree’s Brent Crude Oil ETP — ticker BRNT — attracted a weekly record of about $500 million, almost tripling the fund’s assets to more than $700 […]

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Halliburton Company (HAL)

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services. HAL $39.0900 1.2000 % 3.1700 Halliburton Company Sector : Oils-Energy Industry : Oil – Field Services […]

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US Oil Futures Point to Oversupply for First Time This Year

(Bloomberg) — The US crude market’s structure is signaling oversupply for the first time in almost a year, the latest indicator of the scale of the dramatic slump in the nearest section of the oil futures market. The front-month spread, which reflects short-term supply-demand balances, traded in contango — the industry term for the bearish […]

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Top Oil Stock To Buy Now

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. OXY $73.2700 1.1100 % 1.5400 Occidental Petroleum Corp Sector : Oils-Energy Industry […]

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Oil Jumps As Record-High Crude Exports Signal Rising Demand

(Bloomberg) — Oil jumped after the US exported a record amount of crude and fuel last week, indicating higher demand for American oil. West Texas Intermediate futures rose as much as 3.3% to climb above $88 a barrel after US crude exports hit a weekly high. The fuel outlook remained tight as gasoline stockpiles fell […]

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Top Oil Stock To Buy Now

Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. VLO $114.1200 -6.7400 % -5.5800 Valero Energy Corp Sector : Oils-Energy Industry : Oil – Refining and Marketing Signal Short Term […]

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Oil Holds Surge as OPEC+ Panel Recommends Large Supply Cut

(Bloomberg) — Oil held a two-day surge after an OPEC+ panel recommended the biggest supply cut since 2020 to revive prices. West Texas Intermediate futures traded near $87 a barrel after jumping almost 9% over the previous two sessions. Oil briefly neared $88 after members of the producer group advised cutting as much as 2 […]

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Biden Officials Float Fuel Export Limit in Meeting With Refiners

(Bloomberg) — Senior Biden administration officials pressed executives from some of the largest US gasoline producers to curtail overseas sales during a tense meeting Friday afternoon, suggesting that without voluntary action, the government could force the industry to stockpile more fuel in US tanks. Energy Secretary Jennifer Granholm and other administration officials chastised the industry […]

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Oil Falls as US Says Price Trigger Not Needed to Refill Reserves

(Bloomberg) — Oil fell after the Department of Energy said its plan to restock US emergency oil reserves doesn’t include a trigger price, and that the deliveries likely won’t happen until after fiscal year 2023. West Texas Intermediate slipped below $85 a barrel as traders digested the Energy Department’s statement. Earlier this week, futures rallied […]

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Oil Suffers Fresh Blow as Demand Concerns Spur Weekly Decline

(Bloomberg) — Oil headed for a back-to-back weekly loss, burdened by demand concerns, rising stockpiles, and the possibility the Biden administration may make a fresh release from emergency reserves. West Texas Intermediate edged toward $84 a barrel, but is still down almost 4% this week after hitting the lowest since January. There’s concern consumption will […]

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Oil’s OPEC+ Rally Stalls as China Lockdowns Fan Demand Concerns

(Bloomberg) — Oil fell, with a post-OPEC+ meeting rally fizzling out, as traders weighed the group’s output cut as well as further lockdowns in China. Global benchmark Brent slid toward $95 a barrel after ending almost 3% higher on Monday as the Organization of Petroleum Exporting Countries and allies including Russia agreed to shave a […]

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Oil Rallies With OPEC+ Decision, G-7 Cap Plan Dominating Trading

(Bloomberg) — Oil surged on the possibility that OPEC+ may decide to trim production, and as Europe’s energy crisis worsened after the Group-of-Seven nations endorsed a plan to try to cap the price of Russian crude. West Texas Intermediate advanced above $88 a barrel after sinking by almost 7% last week on concerns that slowing […]

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#1 Oil Exploration Stock Ready To Move

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company’s oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. ERF $15.5500 0.5300 % 3.5300 Enerplus Corp Sector : Oils-Energy […]

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Oil Heading for Longest Slump Since 2020 Amid Growth Concerns

(Bloomberg) — Oil headed for a third monthly drop, the longest losing run in more than two years, on concern that tighter monetary policy will hit growth and China presses on with its Covid Zero strategy. West Texas Intermediate fell as much as $4.09 a barrel from high to low on Tuesday, putting it on […]

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Oil Retreats From Biggest Gain in Six Weeks Amid Supply Angst

(Bloomberg) — Oil moved below $96 a barrel, retreating from its biggest gain in more than a month as traders weighed potential supply disruptions, including the possibility of an OPEC+ output cut. West Texas Intermediate pared a little less than half of Monday’s price jump — the biggest one-day rise in six weeks — as […]

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