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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

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ProShares Ultra Bloomberg Crude Oil

United States Oil Fund LP

Oil & Gas Daily Flow Non-Independent Research; Marketing & Sales Commentary - MiFID II exempt information – see disclaimer below   Click for PDF   Market Update: Tuesday 23 March 2021 Pantheon Resources (AIM:PANR): Formal approval received from the Alaska Department of Natural Resources UK Oil & Gas (AIm:UKOG): UKOG steps up activity ahead of appraisal drilling in Turkey   Energy Prices          Brent Oil US$63.5/bbl vs US$64.2/bbl yesterday WTI Oil US$60.5/bbl vs US$61.0/bbl yesterday Natural Gas US$2.55/mmbtu vs US$2.51/mmbtu yesterday   Oil Price News  Despite a sell down last week, factors have started to emerge in recent weeks that point to a correction in oil demand and which point to a rebound to stronger levels in the second half of this year Currently, oil demand trends in different regions are mixed, with the picture in Europe clouded by renewed lockdowns and sluggish vaccination programs in many countries But travel and consumption patterns in the world's top oil consumer, the US, and in the world's top oil importer, China, point to recovering demand for petroleum products Those two countries, major consumers of crude, could lead global oil demand out of the woods and lead the global consumption rebound later this year Travel statistics show that US consumers are driving and flying this month at the highest rate since the pandemic forced the US into lockdowns in March last year Chinese demand for road fuels is back to pre-COVID levels, with airline travel also rebounding from last year's lows As recent months have shown, the global oil demand recovery will not be a straight line up, with unknowns around virus variants and vaccination passports   Gas Price News  Natural Gas Prices moved higher yesterday, testing resistance levels and rising more than 1.8% The rally came despite the forecast of moderating temperatures that is expected to move eastward and keep the climate above normal for the next 8-14 days Demand declined last week in the US as the heating season approaches the end Asian demand for US exports was strong throughout the winter and now, heading into spring, European demand is mounting as storage levels on the continent dwindled substantially in recent months Since Winter Storm Uri resulted in reduced outages and gas conversation for residential use in Texas, LNG demand has risen 10.0Bcf/d in the past month Further demand gains are possible – perhaps even eclipsing 12.0Bcf/d if all terminals achieve maximum demonstrated demand levels at the same time Gains in LNG feed gas and Gulf Coast industrial demand for natural gas this week may help offset declines in weather-driven demand, allowing small withdrawals to continue near-term   Company News Pantheon Resources (AIM:PANR): Formal approval received from the Alaska Department of Natural Resources Share Price: 39p, Market Cap: £240m Further to its announcement in January 2021, PANR has confirmed the Company has now received formal approval from the Alaska Department of Natural Resources for the acquisition of 100% of the share capital of Borealis. Borealis owns a 10.8% working interest in each of the 16 leases in the Talitha Unit and thus the completion of this transaction increases PANR's working interest in the Talitha Unit from 89.2% to 100% (with Pantheon's net revenue interest increasing from 77.05% to 86.0%).

Today's Oil & Gas Update - Pantheon Resources, UK Oil & Gas and more.

Oil futures finished slightly higher on Monday, finding support after hefty losses last week. Traders, however, continued to weigh the prospects for energy demand on the back of the latest developments tied to the AstraZeneca COVID-19 vaccine and renewed lockdowns in Europe.

Oil futures finish with a modest climb as traders weigh the latest prospects for energy demand

Crude-oil futures add to losses Monday morning, after last week producing their largest weekly loss since October as worries over renewed lockdowns and a sluggish vaccine rollout in parts of Europe continued to dog energy markets.

Futures Movers: Oil prices remain under pressure after largest weekly slide since October

Oil prices resumed their decline on Monday, falling around 1% as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading.

Oil falls as European lockdowns douse recovery hopes

Oil futures ended sharply higher on Friday, getting a boost, in part, due to reports of an attack on an oil facility in Saudi Arabia. Prices, however, posted a big decline for the week, pressured by concerns over the slow vaccine rollout in Europe, which poses a risk to the recovery in energy demand.

Oil futures mark first climb in 6 sessions, suffer a more than 6% weekly loss

Oil futures are on track to post a loss of more than 7% this week, the largest since October, but analysts at Goldman Sachs this week suggest that prices are merely taking a break from a rally in crude that's set to continue.

The Tell: Why Goldman Sachs sees a ‘buying opportunity' in oil's recent selloff

Oil futures climbed toward their highest levels of the trading session Friday, buoyed by reports that an oil facility in Saudi Arabia was attacked by drones. Aljazeera reported that Saudi Arabia said drones struck an oil facility in the capital of Riyadh Friday and ignited a fire, though authorities did not name the facility.

Oil prices climb toward session highs on report of an attack on Saudi oil facility

Oil prices continued to decline on Friday. The commodity's reversal threatens to derail one of the most popular trades of 2021—a bullish bet on oil and related stocks.

Oil Prices Keep Falling as the Reopening Hits Obstacles

Oil & Gas Daily Flow Non-Independent Research; Marketing & Sales Commentary - MiFID II exempt information – see disclaimer below   Market Update: Friday 19 March 2021 SDX Energy (AIM:SDX): FY20 results ahead of expectations   Energy Prices          Brent Oil US$63.0/bbl vs US$67.2/bbl yesterday WTI Oil US$59.8/bbl vs US$63.8/bbl yesterday Natural Gas US$2.51/mmbtu vs US$2.52/mmbtu yesterday   Oil Price News  Oil prices saw a significant pull back yesterday afternoon with WTI sliding 8.68% to US$58.99/bbl whilst Brent fell below US$63/bbl It is the biggest drop in absolute terms since April 2020, when US oil prices slipped into negative territory The market has been broadly conflicted in its predictions during the recent price rally, with bulls signalling there is more room to run, making proclamations of a coming super cycle Others, more cautious in their outlook, have warned for a couple of weeks that the optimism present in the oil markets were unjustified The recent rally was largely on the back of OPEC+ production cuts instead of ramping up production as the market had anticipated The passing of the third round of stimulus in the US had also bolstered oil market sentiment But a rising dollar, increased crude inventories in the US, growing fears of a resurgence in coronavirus cases and vaccine safety concerns in Europe have proven to weigh on any gains Those concerns are linked directly to oil demand resurgence and markets are viewing this demand picture as less favourable today, as shown by crude futures which show the market backwardation is waning WTI's front-month contract is once again trading at a discount to the following month Crude oil WTI April contract is now trading at US$59.46/bbl while the May contract is trading at US$59.57/bbl Gas Price News  Natural gas prices moved lower on Thursday following a smaller than expected draw in natural gas stockpiles according to a report from the US Department of Energy Natural gas in storage was 1,782Bcf as of Friday 12 March 2021, according to the EIA This represents a net decrease of 11Bcf from the previous week Expectations were for a 31Bcf draw in stockpiles according to survey provider Estimize Stocks were 253Bcf less than last year at this time and 93Bcf below the five-year average of 1,875Bcf At 1,782Bcf, total working gas is within the five-year historical range The weather is expected to remain warmer than normal for most of the US East coast for the next 6-10 day as well as during the next 8-14 days Company News SDX Energy (AIM:SDX): FY20 results ahead of expectations Share price: 17.2p, Market Cap: £35.3m Despite a challenging global and sector backdrop, SDX's FY20 results underline a year of operational progression. On a financial level, the Company achieved a netback of US$36.5m, 29% higher than the same period in 2019, was driven by a full year of production from South Disouq.

Today's Oil & Gas Update - SDX Energy and more.

Oil futures trade flat to slightly lower Friday, attempting to stabilize after the previous session's plunge that was inspired by worries over Europe's sluggish vaccine rollout.

Futures Movers: Oil wobbles after Thursday's rout

OPEC producers and their allies, led by Saudi Arabia and Russia, may be underestimating the resilience of U.S. shale, according to one analyst.

US oil producers could surprise Saudi Arabia, Russia

Oil prices fell on Friday, extending losses for a sixth day as a new wave of COVID-19 infections wash across Europe, spurring new lockdowns and dampening hopes for a recovery in demand for fuels anytime soon.

Oil slump deepens as Europe faces pandemic lockdowns

Oil prices were sharply knocked down Thursday, hurt in part by a dimmer outlook from Europe as the region battles rising COVID-19 cases counts and a sluggish rollout of vaccinations to curb the spread of the disease. Brent oil, the international benchmark, extended its run of losses into a fifth session and West Texas Intermediate crude was in its sixth consecutive session in the red.  "Europe is struggling with COVID. Their pickup in crude demand is likely to lag the Americas and it's probably going to really threaten a lot of hopes that we were going to see a big pickup this summer," Ed Moya, senior market analyst at Oanda, told Insider on Thursday. Brent oil fell 8% to $62.52  barrel and WTI fell by 8.3% to $59.25 per barrel.  Several European countries were recording a rise in coronavirus infections, prompting France on Thursday to declare new lockdown measures in Paris while Italy this week imposed movement restrictions.

Oil tumbles 8% as uneven vaccine rollout threatens demand prospects

Stocks ended lower Friday, with rising bond yields putting heavy pressure on the tech-heavy Nasdaq Composite, while the Dow Jones Industrial Average pulled back from record territory and the S&P 500 extended early losses as a sharp drop in oil prices weighed on the energy sectors. The Dow fell around 153 points, or 0.5%, to close near 32,862, according to preliminary figures, after trading at an all-time high earlier in the session following its first-ever close above the 33,000 level on Wednesday.

Stocks end lower as bond yields rise and falling oil prices drag down energy sector

Oil futures ended sharply lower on Thursday, with the slow vaccine rollout in Europe feeding concerns over the pace of recovery in energy demand and rising tensions between the U.S. and Russia pushing prices to their lowest settlement in over two weeks. "There are growing concerns about demand in light of the fact that several large European economies have halted the distribution of the AstraZeneca-Oxford vaccine," said David Madden, market analyst at CMC Markets UK.

Oil futures drop 7% to settle at lowest in more than 2 weeks

WTI $64.60 -20c, Brent $68.00 -39c, Diff -$3.40 -19c, NG $2.53 -3c, UKNG 46.25p +2.04p Oil price Oil has been quiet all week as the vaccine worries in the EU are offset by good progress in the US. The Fed has upped US GDP forecasts to 6.5% from 4.2% and whilst acknowledging some inflationary risk says accommodative policies will remain.

Oil price, Genel, IOG, BPC, Predator, Block. And finally…

Oil futures trade lower for a fifth straight session on Thursday, unable to shake off weakness tied to a rise in U.S. crude inventories.

Futures Movers: Oil extends decline after rise in U.S. inventories

Oil prices dropped for a fifth day on Thursday after official data showed a sustained rise in U.S. crude and fuel inventories, while the ever-present pandemic clouded the demand outlook.

Oil falls a fifth day lower after U.S. stockpile build

Oil futures ended lower on Wednesday after the U.S. government reported a 2.4 million barrel climb in last week's crude inventories - the fourth weekly rise in a row. Prices had already been trading lower in the wake of the International Energy Agency's monthly report, which said that a "supercycle" or sustained rise in prices, is unlikely for oil.

Oil futures end lower as U.S. crude supplies climb a fourth week

U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Wednesday.

U.S. crude, fuel stocks rise even as refiners boost output: EIA

WTI $64.80 -59c, Brent $68.39 -49c, Diff -$3.59b+10c, NG $2.56 +8c, UKNG 44.25p -0.45p   Oil price Oil is dithering, whilst the weakness is down to the EU playing games with Astra Zeneca over the jab that may or not be responsible for blood clotting it is only delaying health and economic recovery, you couldnt make it up, or maybe you could. The real reason is that the US market is waiting to hear from the two day Fed meeting and its view on inflation.

Oil price, JOG, Block. And finally…

Will crude oil prices continue their recent dramatic boom as the pandemic recovery takes hold? Perhaps not.

Why an oil price 'supercycle' is unlikely

Oil futures lose ground Wednesday, after the International Energy Agency deemed a “supercycle” for the commodity unlikely, while traders look ahead to official data on U.S. crude inventories after an industry group reported a fall in stocks.

Futures Movers: Oil prices fall after IEA report deems supercycle unlikely

The oil price has recovered its pandemic losses, demand is picking up as greater numbers of people are vaccinated against COVID-19 and the world's largest exporters aren't ramping up production, but talk of a new super-cycle and massive supply deficits are premature, according to the International Energy Agency.  The Paris-based IEA expects demand to pick up swiftly over the second half of this year, but there is also also plenty of scope for those producers that are currently restraining output to open the taps, meaning global demand won't return to its pre-pandemic levels for another two years, it said.

Global oil demand won't return to pre-pandemic levels until 2023 and talk of a 'super-cycle' may be premature: IEA

Oil demand could peak sooner than previously expected if governments follow through with strong policies towards clean energy, said the International Energy Agency (IEA). However, countries need to make more concrete action if they want to reach ambitious mid-century goals for net-zero emissions.

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