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Crude Oil ETFs Gain Amid Inventory Reports And Weaker Dollar

Crude Oil ETFs Gain Amid Inventory Reports And Weaker Dollar December 23, 2020 Oil prices are up over 2.5% on Wednesday, buoyed by draws in U.S. inventories of crude, gasoline, and distillates. The news invigorated investors’ appetites for crude futures and crude oil ETFs, stoking hopes for some return in fuel demand. U.S. benchmark, West Texas Intermediate (WTI) crude futures, rose $1.22, or 2.6%, to trade at $48.23 per barrel, while Brent crude futures added $1.28, or 2.56%, to trade at $51.36 per barrel. Crude ETFs like the  According to a report from the Energy Information Administration on Wednesday, U.S. crude inventories slipped by 562,000 barrels in the week to Dec. 18 to 499.5 million barrels.

Crude Oil Falls Amid Covid Fears, Spurring Inverse Crude ETFs

December 21, 2020 Prices of crude oil and oil-related ETFs are falling on Monday after a new strain of Covid that was uncovered in the U.K. generated new travel restrictions across Europe and worries that there may be more lockdowns globally, potentially hampering demand for fuel. Futures tied to West Texas Intermediate, the key U.S. crude measure, sank as low as $46.25, or over 6% Monday, before scrambling back toward $48 a barrel in early afternoon trade. International bellwether, Brent crude oil, tumbled 4.1% to $50.10 a barrel, its sharpest one-day drop since October. The U.K. government said the new strain seemed to be more contagious than the prior known strains, disseminating 70% faster than earlier mutations. It has locked down parts of the country, including London, as a result.

Correction In The Oil Market Is Quite Likely (NYSEARCA:USO)

Correction In The Oil Market Is Quite Likely (NYSEARCA:USO)
seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.

Dow Jones Today, Futures Positive Ahead Of Fed; Merger News Spikes Tilray; Twitter, Cerence On Breakout Watch

Dow Jones Today, Futures Positive Ahead Of Fed; Merger News Spikes Tilray; Twitter, Cerence On Breakout Watch
investors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investors.com Daily Mail and Mail on Sunday newspapers.

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