BNO
The United States Brent Oil ETF, LPNYSEARCA
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  • Wed, Dec. 7, 10:31 AM
    | Wed, Dec. 7, 10:31 AM | 17 Comments
  • Tue, Dec. 6, 5:16 PM
    • U.S. crude inventories fell 2.21M barrels last week, according to reports of just-released API data. It would be the largest decline in stocks in about 7 weeks.
    • The EIA reports its numbers tomorrow.
    • WTI crude has added about $0.20 since the report hit, still down 1.7% on the day at $50.91 per barrel.
    • USO +0.25% after hours
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, OILK, OILX
    | Tue, Dec. 6, 5:16 PM | 27 Comments
  • Mon, Dec. 5, 11:59 AM
    • OPEC oil output set another record high in November ahead of the deal to cut production, according to a Reuters survey, which means OPEC will have a bigger task in complying with its new plan to cut supply starting in 2017.
    • Supply from OPEC rose to 34.19M bbl/day last month from 33.82M bbl/day in October, the survey says, meaning OPEC would be pumping 1.69M bbl/day above the 32.5M target level agreed last week.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Mon, Dec. 5, 11:59 AM | 43 Comments
  • Sat, Dec. 3, 11:33 AM
    • Electric vehicles are forecast to cut into oil demand by 1M-2M bbl/day by 2035, according to oil industry consultant Wood McKenzie.
    • That estimate is actually much more conservative than Bloomberg New Energy Finance’s estimate for EVs to impact demand by 8M bbl/day by 2035. For perspective, OPEC agreed this week to coordinated production cuts of 1.2M bbl/day which swung crude oil prices wildly. EVs are only sipping up the equivalent of 50K bbl/day currently.
    • The general consensus even in the oil industry is that governments are moving toward major changes with pollution and emissions regulations. Just this week, the cities of Paris, Mexico City, Madrid and Athens all said they would ban the use of diesel vehicles by 2025. Beijing is also slowly adopting pro-EV policies.
    • A higher mix of EVs in the future has already been tipped off by the dramatic long-term electrification initiatives announced this year by companies such as BMW (OTCPK:BMWYY), Volkswagen (OTCPK:VLKAY), Ford (NYSE:F) and Toyota (NYSE:TM). Around the corner, Tesla Motors (NASDAQ:TSLA) and General Motors (NYSE:GM) have their mass model EVs ready to roll - while new EV trucks, buses and motorcycles are also on the way.
    • WTI crude oil futures +1.21% to $51.68/bbl on Friday. Brent crude +0.96% to $54.46/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, SZO, OLEM, OILK, OILX.
    | Sat, Dec. 3, 11:33 AM | 169 Comments
  • Fri, Dec. 2, 5:04 PM
    | Fri, Dec. 2, 5:04 PM
  • Fri, Dec. 2, 11:08 AM
    • Speaking in D.C., former Saudi Oil Minister Ali Al-Naimi says it remains to be seen if this week's deal to cut production is successful.
    • In addition to his acknowledgement of "cheating" on caps, Al-Naimi notes there's still plenty of shale oil to be found across the globe.
    • WTI crude this morning is higher by another 0.7% to $51.41 per barrel, and in line for a weekly gain of more than 11%.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, OILK, OILX
    | Fri, Dec. 2, 11:08 AM | 31 Comments
  • Thu, Dec. 1, 5:40 AM
    • The oil club is dizzy with its own success after a harmonious meeting in Vienna, where it surprised the world by agreeing to its first production cut in eight years.
    • Crude prices up 12%? Check. Saudi Arabia and Iran in agreement? Check. OPEC and Russia working together? Check.
    • The big question now is whether all these cuts will be implemented. Meanwhile, crude is up over $50 a barrel, lifting energy shares in its slipstream.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, OILX
    | Thu, Dec. 1, 5:40 AM | 5 Comments
  • Wed, Nov. 30, 10:31 AM
    | Wed, Nov. 30, 10:31 AM | 25 Comments
  • Wed, Nov. 30, 8:27 AM
    | Wed, Nov. 30, 8:27 AM | 31 Comments
  • Wed, Nov. 30, 5:24 AM
    • Hope is growing for a deal to cut crude output as OPEC oil ministers voice optimism at their all-important meeting in Vienna.
    • Despite some conflicting statements, representatives of Iran, Iraq, Saudi Arabia and the OPEC Secretary-General are assuming the group will reach a deal by this afternoon, when members spell out what they have agreed to in terms of supply levels.
    • Oil related stocks are doing well in the session as the price of crude jumps around 4-5% to over $47 per barrel.
    • Update (6:55 ET): Oil futures +7.1% to $48.42/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, OILX
    | Wed, Nov. 30, 5:24 AM | 52 Comments
  • Tue, Nov. 29, 9:12 AM
    • Speaking to reporters in Vienna, Iran oil minister Bijan Namdar Zanganeh says his country "won't cut oil production."
    • Bloomberg reports the Saudis as ready to reject any deal if Iran and Iraq don't participate. The Kingdom, according to the report, will only accept production cut exemptions for Nigeria and Libya.
    • WTI crude is now lower by 3.6% to $45.38 per barrel.
    • USO -3.25% premarket
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, OILK, OILX
    | Tue, Nov. 29, 9:12 AM | 105 Comments
  • Tue, Nov. 29, 4:50 AM
    • Oil prices are giving up some of Monday's gains ahead of the official start of the latest OPEC meeting in Vienna tomorrow.
    • Things are looking increasingly shaky following reports that OPEC's technical experts failed to bridge their differences and Russia confirmed it would not attend the gathering.
    • The group is aiming to agree on its first crude output deal since 2008, however, details of a potential accord remain unclear.
    • Crude futures -1.3% to $46.46/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, OILX
    | Tue, Nov. 29, 4:50 AM | 26 Comments
  • Mon, Nov. 28, 12:26 PM
    • Oil and the stocks of European oil players were hit early today, with a weekend story about Saudi Arabian oil honchos pulling out of a Monday meeting with their Russian counterparts setting the opening tone.
    • Later in the session though, Iraqi Oil Minister Jabbar al-Luaibi said he was optimistic a production deal will be reached later this week.
    • WTI crude is now higher by 2.55% on the session to $47.24 per barrel. USO +1.95%
    • The XLE, however, remains in the red by 0.45%.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, OILK, OILX
    | Mon, Nov. 28, 12:26 PM | 12 Comments
  • Mon, Nov. 28, 5:30 AM
    • Oil prices are bouncing around the $46 level as traders bet on whether OPEC will slash output at its closely watched meeting on Wednesday.
    • While Libya has announced it won't take part in any OPEC cuts and Saudi Arabia hinted that the oil market would rebalance itself, some still feel the group will be able to rein in global oversupply.
    • Venezuela's oil minister will also meet his Algerian counterpart later today before the two meet with Russia to seek support for a production cut.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, OILX
    | Mon, Nov. 28, 5:30 AM | 9 Comments
  • Sun, Nov. 27, 9:11 AM
    • A deal on Wednesday that delivers a concrete supply reduction of at least 1M barrels a day, with non-members such as Russia on board could boost oil beyond its recent $40-$50 range.
    • News before the weekend stating Saudi Arabia wouldn't attend a gathering with non-OPEC producers on Monday prompted a significant pullback, but crude prices could bounce around over the next few days as the group tries to resolve internal differences.
    • Tomorrow's talks will be converted into another OPEC-only meeting, sources told Reuters.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, OILX
    | Sun, Nov. 27, 9:11 AM | 70 Comments
  • Thu, Nov. 24, 5:55 AM
    • Crude prices are little changed as uncertainty ahead of a planned OPEC-led crude production cut and thin liquidity due to Thanksgiving kept traders from making big bets on markets.
    • OPEC is due to meet on Nov. 30 to coordinate a cut, potentially together with non-OPEC member Russia, but there is also disagreement within the producer cartel as to which member states should cut and by how much.
    • Crude futures flat at $47.96/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, OILX
    | Thu, Nov. 24, 5:55 AM | 6 Comments
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