iPath Pure Beta Crude Oil ETN

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Oil prices climbed on Tuesday, extending a rebound from last week's plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant.

Oil prices rise on bets OPEC+ will hold off output hike

The surge in oil prices this year has angered drivers, tainted Americans' views on the economy and confounded both the White House and Federal Reserve. Unfortunately, JPMorgan Chase says the oil spike is just getting started.

JPMorgan warns the oil surge is just getting started, and will push prices at the pump higher

Oil futures rose on Monday, with U.S. prices marking a modest rebound from the more than 13% decline seen on Friday as traders eye developments tied to the omicron coronavirus variant and how it might hurt economic activity and demand for oil. Price-wise for oil, "it's possible that the kneejerk reaction to omicron is overdone," said Ipek Ozkardeskaya, senior analyst at Swissquote, in an earlier note.

Oil prices mark a slight rebound from late last week

"We believe the market may overestimate the impacts of the recent emergence of the Omicron variant of COVID-19 on oil prices," JPMorgan said.

Oil prices are set to rise as high as $150 a barrel as OPEC+ controls supply in the face of Omicron concerns, JPMorgan says

Oil futures can shake off a breathtaking Black Friday plunge and then some, with crude likely to test $125 a barrel next year and overshooting to $150 in 2023, with OPEC+ “firmly in the driver's seat,” according to analysts at J.P. Morgan.

The Tell: Oil could still hit $150 a barrel with OPEC+ ‘in the driver's seat': J.P. Morgan

Oil prices will surge around 66% to US$125 per barrel in 2022, according to JP Morgan, which sees the crude market at the start of a new super-cycle'. Crude could reach as high as US$150 per barrel by 2023, the US bank said.

JP Morgan sees oil prices surging to US$125 in 2022 before hitting US$150 in 2023

Oil advanced on Monday as traders said Friday's sharp sell-off, which was crude's worst day of the year, was overdone.

Oil jumps 5%, recouping some losses following worst day of the year

Stocks were battered on Black Friday but crude markets were hardest-hit. However, there are critical reasons to remain bullish on oil.

Omicron Covid Variant Hit Oil Hard. Why Crude Could Still Reach $125 a Barrel.

U.S. motorists could see gasoline prices fall below $3.00 a gallon in the coming weeks after crude futures posted their steepest losses since April 2020 on Friday as a new coronavirus variant threatened to extend the pandemic.

Explainer-U.S. gasoline prices could fall below $3 if oil market sustains losses

Investors were assessing the likely damage to oil demand from the Omicron COVID-19 variant, while the OPEC+ group postponed a meeting to do the same.

Oil rebounds from Friday's rout, as traders assess the impact on demand of the Omicron variant

LONDON (Reuters) -Oil rebounded by almost 5% on Monday to $76 a barrel as some investors viewed Friday's slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone.

Oil rebounds to $76 on speculation Omicron-related drop overdone

The oil market has been getting used to volatility in recent weeks, but nothing could have prepared it for the drastic drop in price by close of trading on Friday. Brent crude was down by more than 11 percent to close at US$72.72 with WTI holding above US$68 a barrel.

Worrying week ahead for oil markets

Oil prices climbed on Monday, recouping a portion of dramatic losses seen late last week as markets scrambled to assess a new COVID variant. Investors are also awaiting this week's OPEC meetings, some of which have reportedly been delayed due to recent price action.

Futures Movers: Oil prices claw back some of Fridays rout, as OPEC reportedly set to delay technical meetings

Asian oil refiners' margins have slumped to the lowest in nearly five months amid worries that the Omicron coronavirus variant could deal another blow to oil demand recovery, already hit by rising COVID-19 cases in Europe.

Omicron threatens oil demand recovery, already hit by Europe's rising COVID cases

The discovery of a new variant of the coronavirus that causes COVID-19 sent crude-oil prices plunging Friday, giving major oil producing nations a reason to pause planned production increases while blunting criticism from the U.S. and other major energy consumers, analysts said.

Market Extra: OPEC+ has excuse to pause oil production increases after COVID variant sparks crude plunge

Oil prices came under pressure on Friday amid demand concerns after the WHO warned of a new Covid variant.

Oil tumbles 5% as new Covid variant sparks global demand concerns

Emergence of possibly vaccine-resistant B.1.1.529 variant threatens to reverse recent gains just as travel and economic activity were beginning to recover

Oil price drops 10% in biggest one-day fall since early days of pandemic

Brent and WTI fell by more than 6%, given the expectation for a surplus of unused fuel to weigh on prices in the coming few months.

Oil tumbles by the most in 4 months after new Covid variant heightens fears over global demand outlook

Oil prices slid more than 1% on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States.

Oil skids on concerns of rising surplus in Q1

Prices remain at around $80 a barrel as U.S. decision to release strategic reserves fizzles out

Oil Prices Hover Near Year-Highs as OPEC Mulls Output Freeze

The release of crude oil from the U.S. Strategic Petroleum Reserve, announced Tuesday by the Biden administration, comes at a time when the price of gasoline has become a major political issue and when there are some signs oil markets are setting up for a steady decline. The U.S. will release 50 million barrels of oil from the Strategic Petroleum Reserve (SPR), a storehouse of oil that was created in the 1970s as protection against disruption of oil supplies.

Reserve oil being released into market that may have peaked

Oil futures were little changed Wednesday, with the U.S. benchmark flipping between small gains and losses after government data showed U.S. crude inventories rose by around 1 million barrels in the week ended Nov. 19. West Texas Intermediate crude for January delivery CL00, +0.15% CLF22, +0.15% was down 4 cents, or 0.1%, at $75.46 a barrel on the New York Mercantile Exchange.

Oil futures little changed after rise in crude inventories

Oil futures were slightly lower early Wednesday, with traders awaiting a response from OPEC and its allies to a U.S.-led coordinated release of crude from strategic reserves, as well as weekly data on inventories.

Futures Movers: Oil prices edge lower as traders await response to Strategic Petroleum Reserve release

Oil prices have jumped more than 50% this year, with demand outstripping supply as more countries emerge from national lockdowns due to Covid.

Oil prices are headed for $100 despite U.S. efforts to release reserves, analyst says

Oil prices fell on Wednesday as the U.S.-led coordinated release of stocks from strategic reserves eased concerns over tightness in global supply, while investors took profits from the previous day's rally ahead of the U.S. Thanksgiving holiday.

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