iPath Pure Beta Crude Oil ETN

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U.S. oil futures finished higher on Friday, buoyed by a third straight weekly decline in U.S. crude inventories. Prices posted a second successive weekly gain, but “when you consider the tightness of the market, and the announcement of further output cuts this week, it's somewhat surprising” they aren't even higher, said Michael Hewson, chief market analyst at CMC Markets UK.

U.S. oil ends higher for the session, tallies a nearly 5% weekly gain

Oil markets test multi-week highs as traders remain focused on production cuts.

Natural Gas, WTI Oil, Brent Oil – Oil Gains As Rebound Continues

Crude oil markets have rallied just a bit during the trading week, as we continue to hang around in the same general range bound area.

Crude Oil Weekly Price Forecast – Crude Oil Markets Rally Slightly for the Week

Crude oil markets have been very quiet during the trading session on Friday, as traders continue to struggle with the 50-Day EMA.

Crude Oil Price Forecast – Crude Oil Markets Do Very Little on Friday

Oil futures were slightly higher Friday, on track for weekly gains after data showed further declines in U.S. crude and product inventories this week.

Oil prices on track for weekly gains

Commerzbank on Friday cut its 2023 and 2024 oil price forecasts, reflecting pessimism in the market over the economic outlook despite supply cuts from key producers that could contribute to a deficit.

Commerzbank cuts oil price forecasts to reflect bearish market sentiment

WTI crude oil prices set for 2nd weekly gain on robust demand, significant US inventory drop, and OPEC's output cuts, signaling a bullish outlook.

Oil Price Forecast: Set for Second Weekly Gain Amid Strong Demand

Oil prices were largely unchanged on Friday, but set to post weekly gains, as fears of higher U.S. interest rates that could dampen energy demand were offset by signs of tighter supply after a larger-than-expected fall in U.S. oil stocks.

Oil prices steady as rate hike fears offset signs of tightening supply

U.S. oil futures gave up their early Thursday losses to settle almost unchanged for the session. Prices found some support following a report from the Energy Information Administration showing a third straight weekly fall in U.S. crude inventories, along with larger-than-expected weekly declines in gasoline and distillate supplies.

U.S. oil futures shake off early loss to finish nearly flat

The EIA report provided significant support to oil markets.

Natural Gas, WTI Oil, Brent Oil – Oil Rebounds From Session Lows As Crude Inventories Decline

U.S. crude stocks drew more than expected on strong refining demand, while gasoline inventories posted a large draw after an increase in driving last week, the Energy Information Administration said on Thursday.

US crude, gasoline inventories fall more than expected - EIA

The crude oil markets have been somewhat stagnant during the trading session on Thursday, as it looks like the 50-Day EMA is going to cause resistance yet again.

Crude Oil Price Forecast – Crude Oil Market Stagnated at 50-Day EMA

Top oil exporter Saudi Arabia has raised the prices for most its crude oil to Asian customers in August for a second month, following its announcement of prolonging an extra output cut on top of a broader OPEC+ deal.

Saudi Arabia hikes August oil prices to Asia after supply cuts - sources

OPEC will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still an above average increase, sources close to OPEC said.

Exclusive: OPEC upbeat over 2024 oil demand outlook despite slowdown

The bosses of global energy companies this week urged governments to shift the focus to limiting oil demand to reduce emissions, rather than pressuring producers to curb supply, which they say serves only to increase prices.

Tackle demand, not supply, to cut emissions, oil bosses say

Oil futures edged higher Thursday, finding support as investors weighed industry data that showed a drop in U.S. crude inventories ahead of an official reading.

Oil prices edge higher as traders eye inventories

Sluggish Chinese demand, caused by slow services activity expansion, overshadow Saudi supply curb, causing WTI crude oil prices to slip.

Oil Price Forecast: Sluggish Chinese Demand, Global Uncertainty Weigh

Oil prices moved little in early Asian trade on Thursday as the prospect of tighter supply with output cuts from Saudi Arabia and Russia and a bigger-than-expected drop in U.S. crude stocks were offset by worries over a sluggish demand recovery in China.

Oil prices steady as China demand fears offset tighter supply forecasts

Oil futures settle higher on Wednesday, as reported comments from Saudi Arabia at an Organization of the Petroleum Exporting Countries seminar raised the potential for tighter crude supplies. Saudi Energy Minister Prince Abdulaziz bin Salman said that OPEC and its allies would do “whatever necessary” to support the oil market, according to various news reports.

Oil futures settle higher as Saudi Arabia pledges to do what's necessary to support the market

(Kitco News) - Further production cuts from Saudi Arabia and Russia are providing some momentum for oil prices, which in turn, is supporting the gold market; however, oil prices will have to go much higher before inflation fears provide new momentum for the precious metal, according to some market analysts.

Oil prices will need to go higher to drive inflation fears, support gold - analysts

Traders focus on U.S. holiday demand and prepare for tomorrow's EIA crude inventories data.

Natural Gas, WTI Oil, Brent Oil – Oil Gains Ground After U.S. Holiday

Russia and Saudi Arabia announced an extension to cuts in oil production on Wednesday, but prices for crude oil dropped 1% despite the move, analysts say.

Cuts in Russian, Saudi Arabian oil production not having major impact on prices

The crude oil market has rallied a bit during the trading session on Wednesday, as traders have returned from the Independence Day holiday in the United States.

Crude Oil Price Forecast – Crude Oil Continues to Threaten 50-Day EMA

Oil prices face downward pressure as concerns over the global economy persist, despite production cuts.

Oil Price Forecast: Lower as Global Economic Worries Cap Gains

Oil prices eased on Wednesday, paring the previous day's gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August.

News for iPath Pure Beta Crude Oil ETN Stock (OIL)