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OIH tracks a market-cap-weighted index of 25 of the largest US-listed, publicly traded oil services companies.

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Crude oil held below $70, a key psychological level, on Tuesday. The volatility is just a "hiccup," says Boris Schlossberg of BK Asset Management.

Crude oil holds below key $70 level after sharp sell-off. Why one trader thinks this is just a 'hiccup'

The drop was a rude awakening for oil bulls who'd been enjoying the commodities' highest prices in 2½ years.

Just a speed bump? Oil has taken a dive, but Goldman is still bullish

Oil futures edge lower Tuesday, a day after the U.S. benchmark suffered its biggest one-day decline since March as signs of a tight physical market help soothe worries over the economic outlook tied to the spread of the delta variant of the coronavirus that causes COVID-19.

Futures Movers: Oil edges lower after biggest drop since March

After topping $75 per barrel for the first time in three years earlier this month, West Texas Intermediate crude futures fell below $70 for the first time in over a month on Monday as OPEC and its allies agreed to raise output amid the delta variant of the Covid-19 virus threatening global demand.

Oil Stocks Decline as Prices Fall Below $70 on OPEC Output Decision

Energy stocks were hit by declining oil prices, which have tumbled to seven-month lows on fears that new virus cases will weigh on global demand.

Stock market sell-off batters energy stocks as Delta variant and falling oil prices worry investors

Oil futures dropped Monday, pressured on the heels of an OPEC+ deal to boost output and on concerns that the spread of the COVID delta variant will slow oil demand. West Texas Intermediate oil for August delivery lost $5.39, or 7.5%, to settle at $66.42 a barrel on the New York Mercantile Exchange.

Oil futures drop, with U.S. prices posting the largest one-day loss since September

Oil prices plunged more than $4 a barrel on Monday, headed for its worst day since March, after OPEC+ agreed to boost output, stoking fears of a surplus as rising COVID-19 infections in many countries threaten demand. Crude oil's year-long surge has been sputtering for most of the last two weeks with the prospect of.

Oil prices plunge $4 per barrel after OPEC+ agrees to boost output

Americans are paying an average of 98 cents more per gallon of gas than they were a year ago, according to AAA.

OPEC+ deal will boost oil production — but what will it mean for prices at the pump?

The oil market is happy with the OPEC+ decision to gradually lift production further starting in August, but the sharp price move lower on Monday certainly doesn't show it.

Commodities Corner: Why the oil market likes the OPEC+ deal but prices don't show it

West Texas Intermediate oil prices had climbed about 40% this year on expectations of renewed demand.

Oil sinks to 7-week low as OPEC+ deal to increase supply arrives as Delta variant cases surge

Oil prices dropped more than 5% on Monday amid fears that a jump in covid cases will hurt demand just as OPEC+ boosts production.

U.S. oil drops 5% to below $70 as OPEC prepares to boost production, Covid concerns weigh

Sunday saw OPEC+ finally agree to a production deal, plus rises in baselines for several countries. Investors have pressed the sell button on oil for Monday.

Futures Movers: Oil prices tumble under $70 a barrel after OPEC+ reaches production deal

The OPEC rift has been smoothed over with a production cut, but experts warn it won't be enough long term.

Oil tanks but OPEC's move is still bullish

OPEC and its allies reached a deal on Sunday to phase out 5.8 million barrels per day of oil production cuts by September 2022.

OPEC+ oil deal sends prices lower — and this could be a buying opportunity

Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).

Oil falls more than 1% after OPEC+ agrees to boost supply

Here's what you need to know to navigate the markets today.

OPEC and Allies Agree to Restore Production Through 2022

OPEC+ agreed to increase oil production Sunday, as demand roars back and prices surge, ending a dispute between the United Arab Emirates and Saudi Arabia.

OPEC+ is boosting oil production, ending dispute that shook energy markets

OPEC and its allies reached a deal on Sunday to raise oil production in response to rising prices, and phase out 5.8 million barrels per day of oil production cuts by the end of 2022, Bloomberg reports.

OPEC+ Reaches Deal To Raise Oil Production, Increase Supply Limits Amidst Rising Prices

The Organization of the Petroleum Exporting Countries and its allies, including Russia, agree Sunday to further relax output curbs.

Market Extra: OPEC+ agrees to boost oil production, ending standoff between Saudi Arabia and U.A.E.

Coordinated increases in oil supply from OPEC+ will begin in August, the group announced Sunday.

OPEC and allies target full end to oil production cuts by September 2022, increase supply as prices climb

The group hopes to end all pandemic-era production cuts by September 2022.

OPEC Oil Producers Reach Agreement To Boost Oil Supply As Prices Spike To Nearly 3-Year High

OPEC+ ministers will meet on Sunday in another attempt to agree a quick oil supply boost to address soaring oil prices as the global economy recovers from the coronavirus pandemic.

OPEC+ meets to agree oil supply boost as prices rise

Key producers of OPEC+ countries have reached a preliminary deal on gradually raising oil output until December and extension of their pact until end of 2022, an OPEC+ source told Reuters on Sunday.

Key OPEC+ producers reach preliminary output deal

U.S. oil futures posted their first gain in three sessions on Friday, but U.S. prices fell around 3.7% for the week. "The rise of the delta variant is making traders concerned that demand growth will pause, at least for a few months," said Michael Lynch, president of Strategic Energy & Economic Research.

U.S. oil futures finish higher Friday, but end down nearly 4% for the week

Oil futures trade edge higher Friday, but the U.S. benchmark remains on track for its biggest weekly fall since March as traders brace for more supply.

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