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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

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SPDR S&P Oil & Gas Exploration & Production ETF

NEW YORK (Reuters) -U.S. crude oil production rose in June by 1.7% to its highest since April 2020, according to a monthly report from the U.S. Energy Information Administration on Wednesday.

U.S. oil output rises 1.7% June to highest since April 2020 -EIA

Oil futures fell Wednesday to settle at their lowest in two weeks, with prices losing 9.2% for the month. "The OPEC part of OPEC+ has expressed concerns about demand and, at times, members are raising the possibility of cutting [production] quotas," said James Williams, energy economist at WTRG Economics.

U.S. oil futures end the session at a 2-week low, down over 9% for the month

The oil price has fallen to a new low below $90, with increased supply and reduced demand putting downward pressure on prices.

Why Are Oil Prices Dropping? OPEC Bows To Global Pressure To Increase Oil Supply

The oil market will have a small surplus of just 0.4 million bpd in 2022, much less than forecast earlier, according to OPEC+, due to underproduction of its members, OPEC+ sources said.

OPEC+ sees tighter market in 2022, risks to oil demand growth

Oil futures headed lower for a third month in a row in August, on track to tally their longest streak of monthly losses in more than two years.

Oil prices mark their longest monthly losing streak in more than 2 years

The weak outlook for the global economy as well as plentiful supply are pushing down on crude prices in the global market.

Oil Heads for Longest Monthly Losing Streak Since 2020

Crude oil markets fell a bit during the trading session on Wednesday to test a major support level but looks as if they are at least going to put up a fight.

Crude Oil Price Forecast – Crude Oil Markets Test Support Level

Oil futures fell Wednesday, extending the previous session's sharp decline amid worries rise about the global economic outlook as central banks move to squelch inflation.

Oil extends slide amid economic jitters

It may take a major decision from OPEC+ to trim production at next week's meeting to put a floor in the WTI and Brent crude oil markets.

Oil Price Fundamental Daily Forecast – Downside Risks Increasing Ahead of EIA Inventories Report

Oil Prices Head for Longest Monthly Losing Streak Since 2020

Oil prices slumped US$7 a barrel, the steepest decline in about a month, as fears mounted that fuel demand could weaken as key central banks raised interest rates to combat high inflation. Brent crude, the international benchmark, fell from just above US$105 to below US$98 overnight, before mounting a smaller rally this morning.

Oil prices tumble on recession fears and Iran rumours

Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada's Atlantic coast.

This decade's oil boom is moving offshore - way offshore

Oil prices inched up on Wednesday as industry data showed U.S. fuel stocks fell more than expected, recovering slightly from a 5% drop on Tuesday on fears fuel demand will suffer as China steps up COVID-19 curbs and central banks hike interest rates.

Oil recoups some losses on signs of firm U.S. fuel demand

Trader reaction to the minor pivot at $91.52 is likely to determine the direction of the Oct WTI crude oil futures contract into the close on Tuesday.

Crude Oil Price Update – Trend Changed to Down on Demand Worries Ahead of API Inventories Report

Oil futures fell sharply on Tuesday, with U.S. prices down more than 5% as economic worries dulled the outlook for energy demand. Traders also weighed prospects for a production cut at Monday's meeting of major oil producers.

U.S. oil futures drop by more than 5%

Natural gas is trying to settle below the $9.00 level. Silver, platinum, and palladium are under strong pressure as traders focus on recession risks and strong U.S. dollar.

WTI Oil Gives Up Yesterday's Gains

Crude oil markets have pulled back during the trading session on Tuesday as we continue to see plenty of volatility.

Crude Oil Price Forecast – Crude Oil Markets Pullback

Brent crude dropped more than 3.5% as soaring inflation and looming rate hikes spook traders ahead of the next OPEC+ meeting.

Oil prices drop as hawkish central banks spark fears of a downturn

Taming inflation is going to take coordination and extraordinary effort from the central banks and most likely put tremendous pressure on fuel demand.

Oil Price Fundamental Daily Forecast – Lower after Supply Disruption Avoided Following Iraqi Militant Clashes

Oil futures fell Tuesday, giving back a chunk of the previous session's gains, as investors attempt to balance worries over the economic outlook against supply concerns.

Oil pulls back from nearly 1-month high as traders weigh economic worries versus supply concerns

Oil prices fell on Tuesday after notching their highest gains in more than a month in the previous session, as global inflation worries overshadowed the prospect of possible OPEC+ output cuts.

Oil prices slip as inflation woes outweigh possible OPEC+ output cuts

Oil futures rallied on Monday, with U.S. prices up more than 4% to settle at their highest in a month.

Oil futures rally to mark highest settlement in a month

The crude oil markets have rallied a bit during the trading session on Monday, as it looks like we are trying to continue the breakout from the falling wedge.

Crude Oil Price Forecast – Crude Oil Markets Have a Bullish Run on Monday

Copper retreated towards the $3.60 level amid worries about the slowdown of the global economy. Gold rebounded from session lows as U.S. dollar pulled back from yearly highs.

WTI Oil Rallies Amid Rising Tensions In Iraq

Oil futures moved higher early Monday, building on the previous week's gains as investors weighed the prospect of a cut in production by the Organization of the Petroleum Exporting Countries.

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