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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

Invesco DB Oil Fund

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

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

An EU price cap on Russian crude oil exports kicked in Monday. Shipping insurance providers need to abide by the new rules.

The EU price cap on Russian oil is already disrupting the market — tankers are piling up off Turkey after Ankara demands insurance paperwork

Oil prices edged higher on Tuesday, after a G7 price cap on Russian seaborne oil came into force on Monday on top of a European Union embargo on imports of Russian crude by sea.

Oil prices rise after price cap on Russian crude, OPEC+ meeting

Uncertainty over Fed policy drove the U.S. Dollar higher, weighing on dollar-denominated commodities like crude oil and gold.

Crude Oil Price Update – Strong Greenback Weighs on Dollar-Denominated Oil

Oil markets swung into a massive redrawing of trade routes Monday as EU's embargo of Russian oil took full effect. The post Oil Markets In Flux As Embargo Deepens; China, India Demand Russian Discounts appeared first on Investor's Business Daily.

Oil Markets In Flux As Embargo Deepens; China, India Demand Russian Discounts

Compass

Global X Dow 30 Covered Call ETF

United States Natural Gas Fund LP

Exchange-traded funds focused on oil and gas dropped Monday, as investors weighed a price cap on Russian oil as well as economic data prompting concerns that the Federal Reserve may need to keep up its aggressive monetary tightening for longer. Shares of the SPDR S&P Oil & Gas Exploration & Production ETF XOP, -4.64% closed about 4.6% lower Monday, while the United States Oil Fund LP USO, -3.04% finished down around 3% and the United States Natural Gas Fund UNG, -10.38% tanked about 10.4%, according to data from FactSet.

Energy ETFs drop as investors weigh Russian oil cap, Fed concerns after fresh economic data

Oil futures fell on Monday, with U.S. prices settling at their lowest price in more than a week. The Institute for Supply Management's reading on U.S. service-sector business conditions rose to 56.5% in November, despite efforts by the Federal Reserve to ease inflation.

U.S. oil futures settle at lowest in more than a week

Oil prices spiked early Monday, paring last week's dip to their lowest level since early January, as markets held their breath about Russia's reaction to the price cap on its oil exports implemented Monday by the U.S., European Union and its allies.

Oil Surges As Russian Oil Price Cap Kicks In—Here's How High Experts Predict It Could Go

“XLE” – the Energy Select Sector SPDR Fund is in the red on Monday after OPEC+ agreed against cutting oil production further that sent oil prices back under $80 a barrel.

OPEC+ agrees against cutting oil production further: sell oil stocks?

On Sunday, OPEC and non-OPEC producers including Russia decided to stick to their existing policy of reducing oil production by 2 million barrels per day, pausing any production moves as a Group of Seven (G7) nations price cap takes effect today, while the European Union (EU) launches a ban on Russian oil imports.

OPEC+ Keeps Production Cuts as EU Bans Russian Oil

The crude oil markets have rallied during the Monday session as we continue to see a lot of noisy behavior overall.

Crude Oil Price Forecast – Crude Oil Markets Rallied to Kick Off the Week

The Organization of the Petroleum Exporting Countries kept output levels unchanged amid a period of uncertainty for the global market.

Oil Prices Advance as OPEC Gauges Russia Price Cap

Oil futures traded higher on Monday, adding to last week's gain, after a European Union ban on importing Russian seaborne crude and a price cap of $60 a barrel took effect Monday, while OPEC kept its production quotas unchanged at a Sunday meeting.

Oil prices climb as E.U. price cap, OPEC decision, and easing of China's Covid restrictions provide support

Oil Prices Advance as OPEC Decides to Gauge Impact of Russia Price Cap

Both futures have since pared gains, with Brent crude last trading at $86.12 a barrel, and U.S. West Texas Intermediate futures at $80.53 per barrel.

Oil prices rose as much as 2% on hopes of China's reopening and as OPEC+ maintains output cut targets

Chinese cities eased COVID-19 curbs over the weekend. However, OPEC+ decided to hold their output targets steady.

Oil Price Fundamental Daily Forecast – Supported by Easing COVID Restrictions, Capped by OPEC+ Decision

OPEC said on Sunday it would stick to the oil production target the group set in October — to slash output by 2 million barrels per day.

Oil prices surge as OPEC maintains production cut targets and China's thawing Covid-zero stance sparks hope of demand recovery

OPEC+ ministers say they are not changing their policy of cutting oil production amid uncertainty about the impact of new Western sanctions against Russian oil.

OPEC+ agrees not to increase oil production amid slowing economy, Russian sanctions

Oil prices inched up in early trade after OPEC+ nations reaffirmed their oil output targets ahead of a European Union ban and price caps on Russian crude, which kick off on Monday.

Oil rises after OPEC+ holds oil output targets, China eases COVID curbs

The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market.

No OPEC+ oil shakeup as Russian price cap stirs uncertainty

Group led by Saudi Arabia and Russia also faces slowing demand in China.

OPEC+ Keeps Oil Curbs Despite Russia Price Cap

OPEC and its allies decided Sunday to stick with their existing policy of curtailing oil output, just hours before new Western sanctions on Russian crude exports come into force.

Its allies will continue to restrict supply as the West tightens sanctions on Russian oil

The cap Russian oil prices as well as OPEC members like Iraq and Libya are upside risks next year, Bank of America said.

Oil prices may hit $110 a barrel in 2023 but Russia risk could 'turbocharge' them even higher, BofA says

Oil prices have fallen to roughly $87 a barrel from more than $120 in early June ahead of potentially disruptive sanctions on Russian oil

OPEC+ agrees to stick to its existing policy of reducing oil production ahead of Russia sanctions

Uncertainty ahead of an OPEC+ meeting on Sunday and a European Union ban on Russian crude oil on Monday encouraged traders to trim positions.

Crude Oil Price Update – Sentiment Shifts to Downside Ahead of OPEC+ Decision, Russian Oil Ban

Oil futures finished with a loss on Friday, but ended higher for the week. The rebound in crude-oil prices recently is due to “some optimism that even though China is battling rising COVID rates, authorities will be much more flexible in how they implement restrictions and lockdowns,” said Michael Hewson, chief market analyst at CMC Markets UK.

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