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Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares

GUSH provides 2x daily exposure to an equal-weighted index of the largest oil and gas exploration and production companies in the US.

United States Brent Oil Fund LP

Invesco DB Oil Fund

iShares U.S. Oil & Gas Exploration & Production ETF

VanEck Vectors Oil Services ETF

iPath Pure Beta Crude Oil ETN

Invesco Dynamic Oil & Gas Services ETF

ProShares Ultra Bloomberg Crude Oil

United States Oil Fund LP

SPDR S&P Oil & Gas Exploration & Production ETF

(Kitco News) - Further production cuts from Saudi Arabia and Russia are providing some momentum for oil prices, which in turn, is supporting the gold market; however, oil prices will have to go much higher before inflation fears provide new momentum for the precious metal, according to some market analysts.

Oil prices will need to go higher to drive inflation fears, support gold - analysts

Traders focus on U.S. holiday demand and prepare for tomorrow's EIA crude inventories data.

Natural Gas, WTI Oil, Brent Oil – Oil Gains Ground After U.S. Holiday

Russia and Saudi Arabia announced an extension to cuts in oil production on Wednesday, but prices for crude oil dropped 1% despite the move, analysts say.

Cuts in Russian, Saudi Arabian oil production not having major impact on prices

The crude oil market has rallied a bit during the trading session on Wednesday, as traders have returned from the Independence Day holiday in the United States.

Crude Oil Price Forecast – Crude Oil Continues to Threaten 50-Day EMA

Oil prices face downward pressure as concerns over the global economy persist, despite production cuts.

Oil Price Forecast: Lower as Global Economic Worries Cap Gains

Oil prices eased on Wednesday, paring the previous day's gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August.

Oil prices ease as worries over global economic slowdown weigh

Oil prices are moving higher as bulls hope that Saudi Arabia and Russia would balance the market with production cuts.

Natural Gas, WTI Oil, Brent Oil – Oil Markets Gain Ground As Traders Weigh Production Cuts

The crude oil market rallied just a bit during the trading session on Tuesday, in thin electronic holiday trading.

Crude Oil Price Forecast – Crude Oil Continues to Stare Down the 50-Day EMA

OPEC+, a group comprising the Organization of the Petroleum Exporting Countries and allies including Russia that pumps around 40% of the world's crude, has been cutting oil output since November in the face of flagging prices.

Explainer: Why are OPEC+ supply cuts failing to boost oil prices?

Producers have less control over global crude shifts than they would like.

Why Saudi and Russian Oil Cuts Aren't Moving the Market More

Mixed economic data, supply concerns, and weak WTI crude demand create uncertainty in the near-term oil market.

Oil Price Forecast: Impacted by Mixed Economic Data, Supply Concerns

Oil prices held steady on Tuesday as markets weighed supply woes from cuts for August by top exporters Saudi Arabia and Russia against economic data that hinted at weak crude demand.

Oil steady as markets weigh supply cuts against weak economic data

Saudi Arabia and Russia announced additional production cuts but traders focused on recession risks.

Natural Gas, WTI Oil, Brent Oil – Oil Pulls Back Despite Production Cuts

Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil cuts on Monday, sending prices higher despite concerns over a global economic slowdown and possible further interest rate increases from the U.S. Federal Reserve.

Saudi Arabia, Russia deepen oil cuts, sending prices higher

The crude oil market initially tried to rally during the trading session on Monday but struggled at the 50-Day EMA in both grades.

Crude Oil Price Forecast – Crude Oil Markets Give Up an Early Gain

Portfolio investors have become exceptionally bearish about crude oil as global economic growth slows and production cuts from Saudi Arabia and its OPEC⁺ allies have failed to lift prices.

Column: Extreme pessimism gripped hedge funds on oil

Shares of oil and gas companies traded broadly higher Monday, as crude oil prices climbed toward a fourth-straight gain. The Energy Select Sector SPDR exchange-traded fund XLE, +0.64% rallied 0.8% in premarket trading, with 21 of its 23 equity components trading higher.

Energy stocks get a broad boost from rising crude oil prices

A potential rebound in oil prices, reduced dealmaking in the oil and gas industry, increased consumption of renewable energy, and rising U.S. crude output could define the global energy market in the second half of 2023.

What the Second Half of 2023 Could Bring for the Energy Market

The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF is a leveraged ETF that aims to seek 2x the daily performance of the S&P Oil & Gas Exploration & Production Select Industry Index. GUSH has an annualized volatility of about 80%, which is twice as much as XOP and more than four times that of SPY, and it is likely to underperform the index unless it achieves significant returns. The ETF is not recommended for long-term investment due to its high volatility and vulnerability to downside risk, but it can provide a good 2x exposure to the underlying index for investors seeking such an opportunity.

GUSH: More Than Double The Pain

Investors await OPEC conference for oil cues as US rig decline hints at production slowdown; OPEC decisions and US output to shape market dynamics.

Oil Price Forecast: Traders Bracing for OPEC Conference, US Production Decline

Oil prices slipped in early Asian trade on Monday as global macroeconomic headwinds and possible further interest rate hikes from the U.S. Federal Reserves offset forecasts of tighter supplies amid OPEC+ cuts.

Oil prices slip on global economic slowdown fears

The oil market has flashed a warning to Saudi Arabia: The world economy is weakening, and the kingdom's efforts to boost prices have run into a wall of excess supply.

Market Bets on Cheaper Oil, Dashing Saudi Hopes for a Price Rebound

Oil futures settled higher on Friday, posting a gain for the month but a loss for the quarter. Crude prices have found support from the OPEC+ deal and voluntary production cuts made by several members to support the market, including Saudi Arabia, said Fawad Razaqzada, market analyst at StoneX.

Oil futures end the session and month higher, but fall for the quarter

Oil markets are moving higher as demand for riskier assets grows.

Natural Gas, WTI Oil, Brent Oil – Oil Tests Weekly Highs Ahead Of The Weekend

Crude oil markets initially plunged during the course of the week, only to turn around and show signs of life again. Ultimately, it looks as if we are trying to find some type of bottom for a bigger move.

News for Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF (GUSH)