Pro Ultrshrt Crude Oil(SCO.US)

Last Updated 19:00:00 ET
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Pro Ultrshrt Crude Oil
SCO.US
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US Cash Crude-Grades largely ease in volatile trading period

US cash crude grades eased during a volatile trading period, with traders adjusting positions after the expiration of the U.S. crude futures contract. The spread between WTI and Brent remained stable at $4.59, encouraging export demand. Venezuelan oil exports increased to 7.8 million barrels following eased U.S. sanctions, while Kazakhstan's CPC oil exports faced restrictions due to maintenance and a fire. U.S. crude and gasoline stocks rose, with crude stocks increasing by 3.04 million barrels. Light Louisiana Sweet and other grades saw slight price adjustments in the market.

Reuters·
US
IXC
+2.11%
US
USO
+2.06%
US
UCO
+3.55%
Reuters·
US
IXC
+2.11%
US
USO
+2.06%
US
UCO
+3.55%

"Commodity" Greenland issue shows signs of hope, oil prices rise slightly

U.S. President Trump announced a temporary suspension of new tariffs on Europe and stated that a framework agreement has been reached with NATO regarding Greenland. Meanwhile, the closure of two large oil fields in Kazakhstan is only temporary. Oil prices rose slightly on Wednesday. New York March futures rose by $0.26 or 0.4% to $60.62. Brent March futures rose by $0.32 or 0.5% to $65.24

AASTOCKS·
US
XLE
+2.42%
SZ
159697
+3.73%
US
OIH
+4.59%
AASTOCKS·
US
XLE
+2.42%
SZ
159697
+3.73%
US
OIH
+4.59%

Analysts See Weekly Decline in U.S. Crude Oil Stockpiles

U.S. crude oil inventories are expected to decline by 500,000 barrels to 421.9 million barrels, while gasoline stocks are projected to rise by 1 million barrels to 252 million barrels. Distillate fuel stocks are anticipated to decrease by 500,000 barrels. Refinery capacity use is likely to fall to 94.6%. The U.S. Energy Information Administration will release the inventory data on Thursday at 12 p.m. EST.

marketscreener·
US
UCO
+3.55%
US
SCO
-3.53%
US
OIH
+4.59%
marketscreener·
US
UCO
+3.55%
US
SCO
-3.53%
US
OIH
+4.59%

Oil prices tick up as investors assess force majeure at Kazakh field

Oil prices saw a slight increase as investors reacted to a temporary shutdown at two major Kazakh oil fields, with Brent futures rising 0.1% to $64.98 and U.S. West Texas Intermediate up 0.3% to $60.51. The shutdown was due to power issues, and the operator declared force majeure on crude deliveries. However, concerns over rising U.S. crude inventories and geopolitical tensions, including trade disputes, may limit further gains. The American Petroleum Institute's inventory data is expected later today, with government figures following on Thursday.

CNA·
US
IXC
+2.11%
US
UCO
+3.55%
US
DBO
+2.13%
CNA·
US
IXC
+2.11%
US
UCO
+3.55%
US
DBO
+2.13%

"Commodity" US crude oil supply is expected to increase, oil prices remain stable

The closure of two large oil fields in Kazakhstan is only temporary. Additionally, U.S. President Trump clarified that there will be no aggressive move on Greenland. Meanwhile, U.S. crude oil inventories are expected to increase by approximately 1.7 million barrels for the week ending January 16. Oil prices stabilized on Wednesday. The price of New York March futures rose by $0.2 or 0.3% to $60.5. The price of Brent March futures rose by $0.1 or 0.2% to $65

AASTOCKS·
US
USO
+2.06%
US
SCO
-3.53%
US
BNO
+2.12%
AASTOCKS·
US
USO
+2.06%
US
SCO
-3.53%
US
BNO
+2.12%
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FUTURES

With everything that has happened over the weekend, the S&P 500 is flat, Gold is sightly up, Silver again is moving 2-5% a session, and oil…goes red.

Crude and Brent oil down 0.5%, natural gas f.........
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