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SPDR S&P Oil & Gas Exploration & Production ETF

XOP tracks an equal-weighted index of companies in the US oil & gas exploration & production space.

United States Brent Oil Fund LP

Invesco DB Oil Fund

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ProShares Ultra Bloomberg Crude Oil

United States Oil Fund LP

Brent futures and WTI crude surge, echoing OPEC's bullish demand outlook and tighter global oil inventory projections.

Oil Prices Forecast: Supply Concerns Push Futures Near 10-Month High

Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some countries such as China.

Oil prices hover near 10-month high on supply concerns

Crude oil prices surged to a 10-month high Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) and the U.S. Energy Information Administration (EIA) released reports predicting that surging demand and recent price gains could stick through the remainder of the year. The price for November deliveries of Brent crude, the global benchmark, surged 2% to as high as $92.40 per barrel in Tuesday trading.

Crude Oil Prices Hit 10-Month High as OPEC, EIA Suggest Demand Could Keep Prices Elevated

Oil prices marked fresh settlement highs for the year on Tuesday with expectations that output cuts by major producers will lead to a global crude supply shortfall in the fourth quarter. Analysis by the Organization of the Petroleum Exporting Countries shows that if the group of producers maintains its August production level of 27.45 million barrels a day through the end of the year, the global oil market will be over 3 million barrels a day in deficit in the fourth quarter, Herman Wang, chief OPEC correspondent for S&P Global Commodity Insights said on X Tuesday.

Oil futures log fresh settlement highs for the year

Global oil prices climbed above $92 a barrel on Tuesday for the first time in nearly 10 months as the energy market braces for supply disruptions caused by catastrophic flooding in Libya.

Oil prices hit 10-month high after Libya flood catastrophe

Traders focus on tight supplies as Saudi Arabia and Russia have recently extended voluntary production cuts.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As OPEC Maintains Demand Forecasts

U.S. crude oil production is forecast to rise more than previously thought in 2023, while global oil inventories are expected to fall after Saudi Arabia extended output cuts this month, the Energy Information Administration said on Tuesday.

U.S oil output to rise in 2023; global stocks to fall after Saudi cut - EIA

Amid tight global supplies, the oil market is expected to face its biggest deficit in over a decade. That's as Saudi Arabia has extended its output cuts, while Russia plans to continue limiting exports.

The biggest oil deficit since 2007 will hit in the 4th quarter as Saudi Arabia cuts supply

The oil market is tightening as Saudi Arabia and Russia are set to throttle output over the coming months, the structure of the global Brent crude oil benchmark indicated on Tuesday.

Tight oil market blows out Brent futures price structure

The crude oil market has rallied a bit during the trading session on Tuesday, as it looks like oil is ready to break out again.

Crude Oil Price Forecast – Crude Oil Market Shows Strength

US stocks slipped Tuesday, while oil prices climbed ahead of Tuesday's release of the August inflation report. Brent crude, the international benchmark, surged above $91 a barrel.

US stocks slide as oil prices climb and investors brace for August inflation report

Oil futures traded higher early Tuesday, leaving the front-month contract within striking distance of its highest settlement level since November as investors awaited more U.S. inflation data and a European central bank decision on interest rates this week.

Oil prices climb, eyeing highest settlement since November as U.S. inflation report looms

OPEC on Tuesday stuck to its forecasts for robust growth in global oil demand in 2023 and 2024 citing signs that major economies are faring better than expected despite headwinds such as high interest rates and elevated inflation.

OPEC sticks to oil demand growth view citing resilient economy

Officials at the International Energy Agency (IEA) have decided to take another shot at predicting the date when the long-projected "peak oil" will finally arrive.

IEA Chief Predicts New Target Date For ‘Peak Oil'

As Europe races to prepare for another winter heating season, energy analysts have warned volatile markets could send prices sharply higher.

Gas markets are becoming 'extremely difficult' to predict. It's a big problem for Europe this winter

Brent crude surpasses $90 due to Saudi and Russian supply cuts, as stakeholders await U.S., Europe indicators and IEA, OPEC reports.

Oil Prices Forecast: Brent Crude Stays Resilient Amid Rate Hike Speculations

Brent crude oil price continued rising this week as supply concerns remained. It rose to a high of $91.37, the highest level since November last year.

Brent crude oil price forecast: more upside as golden cross forms

Major institutional oil and gas investors would be open to receiving lower dividends and fewer share buybacks in favor of more spending on some energy transition projects, consultancy Deloitte said in a study published on Tuesday.

Oil investors open to dividend cut to boost clean energy spending -Deloitte

The Strategic Petroleum Reserve (SPR) is at its lowest point since 1983, at 347 million barrels.

SPN Outperformed All Other Sectors This Quarter Amid Surge in Oil Prices

Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week that could indicate whether Europe and the U.S. continue to hike interest rates.

Oil prices stable as market awaits data on inventories, economy

Oil prices ended a bit lower on Monday, easing back after logging a more than 2% gain last week. While demand concerns continue to “headline downside risk” for oil, fundamental conditions remain undersupplied for now, as has been clear from strong draws to commercial U.S. crude stocks in recent weeks,” said Robbie Fraser, manager, Global Research & Analytics at Schneider Electric.

Oil futures end lower after posting a more than 2% weekly gain

Production cuts provide significant support to oil markets, but some traders are worried about a potential slowdown of the world economy.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Pull Back From Session Highs As Traders Wait For Additional Catalysts

Global oil markets could get tighter in the remaining months of the year.

Oil Rally Has More Room To Run

The lead oil contract rose over 2% last week, and has jumped close to 10% over the last two weeks, as Saudi Arabia announced it would extend a production cut of 1 million barrels a day through the end of the year, while Russia said it would also extend supply cuts.

Oil futures ease after nearly 10% surge over last two weeks

Oil prices are at their highest level this year.

News for SPDR S&P Oil & Gas Exploration & Production ETF ETF (XOP)