The Latest Breaking News from UCO

NYMEX crude oil futures have moved steadily higher since the lows in mid-December, gaining more than $10 per barrel at their most recent high. Geopolitical risks in the Middle East have pushed the energy commodity higher, and higher highs could be on the horizon for seasonal reasons over the coming…

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Crude oil prices have been falling, making lower highs, since this year’s April 2024 high. The U.S. election has changed the oil market’s dynamics.

Crude oil remains the energy commodity that powers the world despite the increasing initiatives to combat climate change. Crude oil prices have been trending lower, but the geopolitical landscape and questions about the future of U.S. energy policy could mean the energy commodity is close to a bottom.

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Crude oil prices have been highly volatile. Winter is an off-season for crude oil because gasoline demand declines as drivers put less mileage on automobiles. Meanwhile, the geopolitical landscape and the level of the U.S. Strategic Petroleum Reserve remain compelling reasons for a higher low in the oil futures market…

In October 2022, the Biden administration told the crude oil market that the target range for replacing barrels sold from the U.S. Strategic Petroleum Reserve was $67 to $72 per barrel. The price is back at its buying level, and time will tell if the administration pulls the trigger to…

In 2022, the U.S. sold an unprecedented level of its Strategic Petroleum Reserve, sending the SPY to the lowest level since December 1983. The sales weighed on crude oil but appeared to have set a floor under the energy commodity that continues to power the world.

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