Tag: oil market

What Is Keeping Down Oil Prices?

The ongoing weakness in the oil market made me examine again the recent developments in the oil market. Some analysts suggest the growing U.S. production is the driving force behind the fall in oil prices. But I still think that…

The Oil Market Continues to Loosen

The price of oil tumbled down last week to the mid 60’s and remained at this level since then. OPEC’s decision to keep its quota unchanged has fueled this plunge in prices. But the main issue will also remain the…

What Brought Down Oil Prices?

United States Oil (USO) tumbled down again in the past few months and reached its lowest level this year. Also, the price of WTI oil plunged by over 10% this month (up to date) to $82. Will prices keep coming…

Is Oil Heading towards a New Year Low?

United States Oil (USO) resumed its downward trend as it fell by nearly 3% since the beginning of October. Let’s review some of the latest developments related to USO that could impact its direction and performance. The chart shows the…

Is Oil Heading towards a New Year Low?

During last month, the price of United States Oil (USO) declined by nearly 4.5%, while the price of oil (WTI) fell by 5.5%. Brent oil also fell by over 8.8% in the past month. Let’s examine some of the latest…

Oil Could Resume Its Downward Trend

The price of United States Oil (USO) slightly declined in the past few days but it still hasn’t moved much from the $34 to $35 price range. Nonetheless, this oil ETF dropped by 3.7% since the beginning of the month…

Will Oil Remain in the Low $90’s?

Oil prices remained relatively stable in the past few days as WTI oil price has been trading around $93-$94 and Brent oil at $97-$99. United States Oil (USO) is also relatively stable at $34-$35. Looking forward, the latest updates from…