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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

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ProShares Ultra Bloomberg Crude Oil

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SPDR S&P Oil & Gas Exploration & Production ETF

The U.S. Energy Information Administration on Tuesday raised its forecast for this year's crude output growth marginally, while petroleum demand is likely to rise less than previously expected.

U.S. crude output and petroleum demand to rise in 2022 - EIA

That crude oil prices and inflation have a correlation is long known. The issue is which comes first, and is oil causal for inflation or vice versa.

Inflation Is Not Oil's Fault

Oil slipped again Tuesday after the price of Brent crude settled at its lowest level since January one day earlier as worries about more interest rate rises by the Federal Reserve rippled across markets despite concerns about the impact of the G7 price cap on Russian oil imposed Monday.

Oil slides as worries about more Fed hikes rattle market

More than a dozen massive oil tankers are stuck near the exit to the Black Sea, the first noticeable disruption to global energy markets after the West imposed a price cap on Russian crude.

Oil Price Cap Triggers Tanker Traffic Jam in Turkish Straits

Oil declined the most in two weeks on Monday after data showed the U.S. services sector is stronger than expected.

Oil Prices Fall Further Despite Tanker Traffic Jam Off Turkey

The divergence has surprised some on Wall Street, as sputtering crude prices threaten to undermine producers' profits.

Oil Prices and Energy Stocks Are Headed in Different Directions. What Gives?

They declined the most in two weeks on Monday after data showed the services sector is stronger than expected.

Oil Prices Stay Lower After Big Drop on Worry About Fed Hikes

A stronger greenback tends to weigh on foreign demand for dollar-denominated crude oil. This is likely the main reason prices fell on Monday.

Oil Price Fundamental Daily Forecast – Fed Rate Hike Concerns Support Dollar, Cap Crude Oil Gains

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

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.

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