United States Brent Oil Fund LP

BNO tracks the Brent oil spot price using near-month ICE futures contracts.

Invesco DB Oil Fund

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares

iShares U.S. Oil & Gas Exploration & Production ETF

VanEck Vectors Oil Services ETF

iPath Pure Beta Crude Oil ETN

Invesco Dynamic Oil & Gas Services ETF

ProShares Ultra Bloomberg Crude Oil

United States Oil Fund LP

SPDR S&P Oil & Gas Exploration & Production ETF

Oil prices have rallied this morning despite the International Energy Agency's warning that the world will face a "major surplus" of the commodity by the end of the 2020s. Slowing demand caused by the transition to greener energy and an uptick in production are expected to cause a rise in oil supplies, the IEA said.

Oil prices rise despite warnings of a "major surplus" this decade

Global oil demand will peak by 2029 and begin to contract the next year, the International Energy Agency said on Wednesday, while oil supply capacity is due to vastly outpace demand by the end of the decade.

Oil demand set to peak by 2029, major supply glut looms, IEA says

In its latest medium-term market report, titled Oil 2024, the IEA said oil demand growth was on track to slow down before reaching its peak near 106 million barrels per day by 2030. At the same time, the IEA expects total oil production capacity to surge to nearly 114 million barrels per day by 2030 — a whopping 8 million barrels per day above projected global demand.

Big Oil given stark warning as peak crude and a major supply surplus expected by 2030

U.S. oil inventories dropped by 2.4 million barrels, boosting oil prices over 0.25%. Could this signal further gains ahead?

Natural Gas and Oil Forecast: Oil Prices Rise Over 0.25%; More Upside Ahead?

Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC.

Oil prices edge up on optimistic demand outlook

Crude oil surged above key resistance levels, reaching a new high of 78.52, and may continue its bullish trend towards the 200-Day MA at 79.96.

Crude Oil Price Forecast: Eyes Bullish Targets

Oil prices may rise to $86 a barrel in the next few months due to "solid summer demand" and consumer spending remaining strong, according to a new forecast by analysts at Goldman Sachs.

Oil may rise to $86 per barrel due to 'solid summer demand': Goldman Sachs

OPEC maintained its global oil demand growth forecast for 2024.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Is Mostly Flat As Traders Focus On OPEC Demand Forecast

The discussion revolves around the confusion regarding OPEC's recent announcements.

Did OPEC Fumble This One?

The crude markets pulled back a bit in the early hours of Tuesday, only to turn around and show signs of life again. At this point, I believe that the markets will eventually recover fully from the selloff, but we have the FOMC on Wednesday that could throw a spanner into the mix.

Crude Oil Price Forecast – Crude Oil Continues to Attempt to Recover

OPEC has stuck to its robust oil demand forecasts for 2024 and 2025 as the cartel sees steady global economic growth ahead. Crude oil rallied more than 2% Monday and has now recovered most of the losses from last week.

Oil prices little changed as OPEC sticks to demand and steady economic growth forecasts

Brent crude oil is holding steady at 81.50 USD per barrel on Tuesday, following a significant surge of over 2.5% the previous day. The price increase was driven by optimistic market expectations about fuel demand this coming summer and news that the US government is seizing the opportunity to replenish its strategic oil reserves at relatively low prices, with a particular focus on oil priced around 79 USD per barrel.

Brent Crude Oil Stabilises Around 81.50 USD Amid Demand Optimism

Oil futures were slightly lower Tuesday, consolidating after a large bounce the previous session as investors weighed updated forecasts from the Organization of the Petroleum Exporting Countries that left the outlook for supply and demand unchanged.

Oil prices edge lower after Monday bounce; OPEC leaves forecasts unchanged

OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024, despite lower than expected use in the first quarter, saying travel and tourism would support consumption in the second half of the year.

OPEC sticks to 2024 oil demand growth forecast, but trims Q1 view

The 200-day moving average is a crucial indicator; a decisive break above it could shift crude oil from a bearish to a bullish outlook.

Crude Oil News Today: US, China CPI Data, Fed Decisions Crucial to Price Trend

Oil dips to $77.69 as investors anticipate U.S. inflation data and the impact of Saudi crude export reductions.

Natural Gas and Oil Forecast: Prices React to Saudi Exports and Fed Meeting

Oil prices rose on Tuesday, extending the previous day's rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar.

Oil prices extend rally on potential U.S. crude purchase for reserve

Goldman Sachs analysts have set a $86 price target for Brent oil in the third quarter.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Traders Bet On Strong Summer Demand

Oil prices rose Monday after posting a loss last week in the wake of the OPEC+ decision to increase production later this year. Goldman Sachs analysts said Brent should rise to $86 in the third quarter as summer fuel demand results in a "sizeable" deficit.

Oil prices edge higher after weekly loss as Goldman sees supply deficit on summer fuel demand

Diamond Offshore Drilling Inc

Noble Corp. is buying Diamond Offshore Drilling in a deal valued at about $1.6 billion.

Diamond Offshore Is Being Acquired. The Oil Sector Keeps Consolidating.

Oil futures saw tiny gains early Monday, attempting to find a footing after an OPEC+ decision to begin unwinding some voluntary production cuts later this year helped send crude to a third straight weekly decline.

Oil prices nudge higher after third straight weekly loss

Given the expected rise in summer transport demand and projected inventory declines, the short-term outlook for oil prices appears cautiously bullish.

Crude Oil News Today: Gains Support as Bulls Await Next Catalyst

Oil prices rise to $75.76 on anticipation of higher summer fuel demand, despite the impact of a stronger U.S. dollar.

Natural Gas and Oil Forecast: WTI at $75.76, More Upside Ahead or Sell-Off?

Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday.

Oil slips on dollar's strength from US jobs data

Since 2008, the shale boom has grown U.S. oil production by about 9 million barrels per day. In the early days of the shale boom, when it wasn't clear whether this development would have a significant impact, it was largely ignored by OPEC.

News for United States Brent Oil Fund LP ETF (BNO)