ProShares Ultra Bloomberg Crude Oil

UCO provides 2x the daily return of an index of futures contracts of WTI crude.

Shell PLC

United States Brent Oil Fund LP

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

United States Oil Fund LP

SPDR S&P Oil & Gas Exploration & Production ETF

Prolonged cuts to oil production by the likes of Saudi Arabia means drivers could well be yet to face the worst of rising petrol and diesel prices. Despite recent price movements among the most rapid monthly hikes since 2000, motor group RAC warned the worst could be yet to come.

Petrol prices to keep rising prompting warnings on inflation

Saudi Arabia and Russia said they will extend oil supply cuts of 1.3 million barrels a day through December 2023. The Tuesday announcements sent prices of benchmark oil futures shooting to their 10-month highs.

A key global oil price zoomed past $90 a barrel for the first time in 2023 — and analysts say it could keep inflation high

OPEC giants extend voluntary cuts, with crude oil futures nearing 9-month peaks as global inventory concerns rise.

Oil Prices Forecast: Inventory Concerns Rise as OPEC+ Extends Output Cuts

Oil prices ticked up on Thursday, as markets worried about a supply shortage after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year.

Oil prices edge higher on supply woes as Saudi, Russia extend output cuts

The S&P 500's energy sector also rose to an eight-month high.

Oil Prices Soar To 2023 Highs—Threatening Higher Prices At The Pump After Output Cuts

Oil prices have climbed to their highest levels of the year, buoyed in part by news that Saudi Arabia and Russia have extended their production cuts to the end of the year, even as demand uncertainty continues to hang over the market outlook.

Oil trades at 2023 highs. Are U.S. prices headed for $100?

Brent crude surpassed $90 a barrel for the first time since November on Tuesday. Oil prices climbed after Saudi Arabia and Russia committed to further production cuts until December.

Oil prices soar to 10-month high as Russia and Saudi Arabia commit to slash production for longer

U.S. oil futures settled Tuesday at their highest since November, lifted by news that Saudi Arabia and Russia have decided to extend their production cuts to the end of the year. October West Texas Intermediate crude CLV23, +1.19% climbed $1.14, or 1.3%, to settle at $86.69 a barrel on the New York Mercantile Exchange.

U.S. oil futures end at highest since November

Both countries said they would review the supply cuts monthly, and could modify them depending on market conditions.

Oil prices hit 10-month high as Saudi Arabia, Russia extend supply cuts

Saudi Arabia and Russia extended production cuts until the end of this year.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Traders Focus On Production Cuts

Energy Select Sector SPDR Fund

Energy stocks are leading the S&P 500 index performance on Tuesday, while most other sectors are in red, after Saudi Arabia and Russia announced an extension of oil supply cuts.

Energy stocks lead S&P 500 again, as Saudi Arabia, Russia extend crude-supply cuts

Near-term prices for oil traded on Tuesday at their steepest premium since November to later-dated prices after Saudi Arabia and Russia announced plans to extend voluntary oil supply cuts for three months.

OPEC+ cuts drive crude futures spreads to widest since November

Oil prices hit a new high for the year so far after Saudi Arabia and Russia — the world's biggest crude exporters — said they would extend output cuts by at least another three months.

Oil prices surge after Saudi Arabia and Russia extend production cuts

Crude oil markets have been extraordinarily bullish as of late, but unfortunately we are starting to get to the point where they are extremely overstretched, and sooner or later gravity may come into the picture. If that's going to be the case, you may have a situation where it's time.

Crude Oil Price Forecast – Crude Oil Markets Facing Gravity

Oil futures edged lower early Tuesday, pulling back from 2023 highs, after downbeat economic data from China raised worries about global demand.

Oil prices pull back from 2023 highs after downbeat China data

UCO is a double-long instrument that aims to return two times the daily performance of the Bloomberg Commodity Balanced WTI Crude Oil Index. ProShares Ultra Bloomberg Crude Oil ETF is a high-risk, high-reward investment option suitable for short-term trades. Recent performance and momentum in the oil market suggest that staying long on UCO could be profitable.

UCO: After A Slow Start, Oil Has Plenty Of Bullish Momentum Now

OPEC's production strategy meets headwinds from China's economic indicators, spotlighting a volatile tug-of-war in crude oil futures.

Oil Prices Forecast: OPEC Production Cuts vs. Asia's Economic Dip Set Flat Tone

The US dollar is losing some influence in the oil markets, according to JPMorgan. The correlation between the USD's strength and oil prices has weakened, per the bank's research.

The greenback is 'losing some influence' in the oil markets — and it means a partial de-dollarization is likely, says JPMorgan

West Texas Intermediate Crude Oil is currently trading above $85, Brent Crude is above $88 $100 could be the next stop in the uptrend, but it's OPEC that holds the key

Will Crude Oil Hit $100 Per Barrel?

Oil prices were mixed on Tuesday as support from China's measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia

Oil prices mixed on receding support from China's steps to revive economy

Traders bet that the potential extension of production cuts will provide additional support to oil markets.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Stays Close To Multi-Month Highs As Traders Remain Bullish

Production cuts, China's stimulus measures, and a less hawkish outlook for Fed policy are pushing oil markets towards new highs.

WTI Oil Is Heading Towards $90.00

The crude oil markets were of course somewhat illiquid as we continue to see a bit of an overstretched condition. That being said, the market is likely to take profits in this area. Labor Day of course is part of the reason why we have so much uncertainty.

Crude Oil Price Forecast – Crude Oil Markets Quiet on Labor Day

While OPEC+ commitments stir the global oil landscape, the U.S.'s booming oil production may temper future rises.

Oil Prices Forecast: OPEC Impact on Global Trade Dynamics

Global oil supplies are expected to improve in the next six to eight weeks because of refinery maintenance, although supplies of sour crude will stay tight, said Russell Hardy, chief executive of the world's largest independent oil trader, Vitol.

News for ProShares Ultra Bloomberg Crude Oil ETF (UCO)