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SPDR S&P Oil & Gas Exploration & Production ETF

XOP tracks an equal-weighted index of companies in the US oil & gas exploration & production space.

United States Brent Oil Fund LP

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United States Oil Fund LP

Oil prices fell 6% on Wednesday as worries grow about lower demand and a slowing economy. Reports surfaced that Russia might end its ban on diesel exports, and oil inventories rose in some areas.

Oil prices drop 6% as worries mount over demand destruction

Oil futures fell sharply on Wednesday, with U.S. prices settling at their lowest since the end of August. “The current state of the oil market is that global economic pain is coming courtesy of surging bond yields,” said Edward Moya, senior market analyst at OANDA.

U.S. oil futures mark lowest settlement since the end of August

The EIA report showed that gasoline inventories increased by 6.5 million barrels from the previous week.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 5.7% As Demand For Gasoline Is Weak

Crude oil markets have fallen during the trading session on Wednesday to kick off the day, but at this point there remains to be seen whether or not it has any follow-through.

Crude Oil Price Forecast – Crude Oil Markets Plunge on Wednesday

Affirm

Oil futures edged lower early Wednesday as investors awaited an official reading on U.S. crude inventories, while Saudi Arabia, as expected, affirmed its plan to extend a production cut of 1 million barrels a day through year-end.

Oil prices edge lower ahead of supply data as Saudis affirm extension of production cut

Petrol had become “overpriced” across Britain's forecourts come the end of September as retailers clung on to higher margins following growth in wholesale fuel costs, RAC reports. According to an analysis by the auto servicing company, the average petrol price of 157.01p per litre at the end of September was 7p more than needed based on wholesale prices.

Petrol ‘overpriced' as retailers clutch on to higher margins - RAC

OPEC+ is unlikely to tweak its current oil output policy when a panel meets on Wednesday, OPEC+ sources told Reuters, as Saudi Arabia and Russia said they would keep voluntary supply cuts in place to support the market.

OPEC+ panel unlikely to tweak policy as Saudi keeps oil cuts - sources

The Organization of the Petroleum Exporting Countries isn't expected to change output targets after previous cuts by Saudi Arabia and Russia.

Oil Prices Fall as OPEC Prepares to Meet. Interest Rates Are a Worry.

Amid rising interest rates, the latest Crude Oil News reflects a cautious market outlook as OPEC+ ministers gear up to discuss production policies.

Oil Prices Forecast: OPEC+ Meeting Eyed Amid WTI, Brent Futures Dip

Oil rose in early Asian trade on Wednesday, supported by tightening global crude supply ahead of a panel meeting of OPEC+ ministers.

Oil rises on tightening crude supply

Saudi Arabia's decision a month ago to extend its crude-production cut to the end of the year hasn't yet lifted oil prices past the psychologically important $100-a-barrel level, but it did contribute to the largest quarterly price percentage gain in over a year.

Oil rally shows ‘OPEC+ plan has been working' as investors await next Saudi move

Oil futures finished higher on Tuesday, recouping a small portion of the price losses seen after three consecutive session declines. The path of least resistance is still higher for oil right now “although the counter-trend pullback is not necessarily over just yet,” said Tyler Richey, co-editor at Sevens Report Research.

Oil futures end higher after a three-session decline

Oil bulls remain cautious as Treasury yields are moving higher.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds After Yesterday's Sell-Off

Crude oil markets have initially fallen during the trading session on Tuesday but have turned around to show signs of stability again.

Crude Oil Price Forecast – Crude Oil Markets Showing Signs of Support

Oil futures were flat to slightly higher in early trade Tuesday, steadying after a three-session pullback that took crude to roughly three-week lows.

Oil prices steady after pulling back to 3-week lows

Oil prices are not going to fall soon according to the head of producers cartel Opec despite predictions that demand for fossil fuels will peak this decade.  Haitham Al Ghais, OPEC's secretary-general, warned that demand will continue to rise and that investment in the oil and gas sector of at least US$12 trillion is required to avoid an energy crunch in 2045.

Opec head warns of energy crunch due to' underinvestment'

Amidst a climbing U.S. dollar and bond yields, the oil market faces demand pressures, raising questions on OPEC's next production moves.

Oil Prices Forecast: WTI, Brent Crude Shaken by Surging Dollar, US Treasury Yields

Last week, crude oil prices reached their highest price since August 2022, with West Texas Intermediate Crude reaching $95/barrel on Thursday. The Commerce Department announced that the trade deficit declined 7.3% in August, as imports declined 1.2% to $253.1 billion, while exports surged 2.2% to $168.8 billion.

Crude Oil Prices Reach A 13-Month High

Oil prices dipped in early Asian trade on Tuesday after falling to a three-week low in the previous session on a strengthening U.S. dollar and traders taking some money off the table from the last quarter's chunky gains.

Oil falls in early trade on strong US dollar, profit taking

Oil futures declined on Monday, with U.S. prices settling at their lowest since mid-September, ahead of a committee meeting of major oil producers later this week. The extension of the voluntary oil output cuts by Saudi Arabia and Russia to the end of the year “looks like it is set in stone,” said Anas Alhajji, an independent energy expert and managing partner at Energy Outlook Advisors.

U.S. oil futures post lowest finish since mid-September

Oil prices move lower amid a broad pullback in commodity markets.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As Treasury Yields Rise

OPEC Secretary-General Haitham Al-Ghais warned that energy prices could spike due to underinvestment. At least $12 trillion needs to be invested in the industry through 2045, he told CNN.

At least $12 trillion in oil industry investments are needed to prevent a spike in energy prices, OPEC chief says

Crude oil markets initially tried to rally during the trading session on Monday but gave back the gains to show signs of hesitation yet again.

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

Crude oil prices to slump to as low as US$70 a barrel next year due to sluggish demand and as “peak transport fuel demand” looms, according to US bank Citigroup. Prices have been rising steadily (to US$92 currently) since the middle of the year as key producers Saudi Arabia and Russia have cut production.

Oil price heading for 20% fall predicts Citi

Oil futures rose Monday, kicking off October on a positive note as traders focused on expectations for a further tightening of supply.

News for SPDR S&P Oil & Gas Exploration & Production ETF ETF (XOP)