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Right now, a confluence of harsh weather, geopolitical events, and OPEC supply cuts are continuing to move in favor of higher oil prices. Up over 40% in the past few months, DBO seeks to track the DBIQ Optimum Yield Crude Oil Index Excess Return (DBIQ-OY CL ER), which is intended to reflect the changes in market value of crude oil. The single index Commodity consists of Light, Sweet Crude Oil (WTI). The fund invests in futures contracts in an attempt to track its corresponding index. The broader energy play, DBE, is up 34% and seeks to track the DBIQ Optimum Yield Energy Index Excess Return, which is intended to reflect the changes in market value of the energy sector. The index Commodities consist of Light, Sweet Crude Oil (WTI), Heating Oil, Brent Crude Oil, RBOB Gasoline, and Natural Gas. The fund invests in futures contracts in an attempt to track its index. ....
CME. Alternatively, they could try purchasing the Invesco DB Oil exchange-traded fund (ticker: DBO), which holds a basket of crude oil futures. The fund has gained 7.5% this year through Jan. 11. It lost 21% in 2020, according to This year crude has already rallied about 9%, due in part to an unexpectedly bullish move by OPEC+ (the Organization of the Petroleum Exporting Countries plus Russia) earlier this month. The world’s second-largest producer, Saudi Arabia, surprised the world by announcing it would cut production in February and March by one million barrels a day (bpd). That move more than offset a combined 75,000 bpd increase for the same period by Russia and Kazakhstan. ....
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. ....