Oil declines as IEA talks gluts


“Despite armed conflict in Libya, Iraq and Ukraine, the oil market today looks better supplied than expected, with an oil glut even reported in the Atlantic basin," says the International Energy Agency in its monthly report.

Alongside the bearish supply outlook, the IEA cut its global demand forecast for this year by 180K barrels per day to 1M. Demand is expected to rise to 1.3M barrels per day next year.

WTI crude is down 0.9% to $97.19, its lowest price since February. USO -0.6% premarket

ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UHN, UWTI, DWTI, DNO, SZO, OLO, OLEM, TWTI

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs