U.S. futures markets are rallying on Monday night, after President Donald Trump announced a "ceasefire timeline" for the conflict between Iran and Israel.
Oil ETFs surge as tensions rise between Israel and Iran. Crude prices spike on fears of U.S. involvement, Strait of Hormuz disruption, and geopolitical risks.
With tensions continuing to flare in the Middle East, the global energy supply is on tenterhooks, with Israel hitting Iran where it stands to hurt the most.
Crude oil prices and the ETFs that track the commodity are surging higher amid escalating tensions in the Middle East, sending prices to a two-month high.
Oil-linked ETFs not only provide insight into sentiment across energy sector but also face volatility. USO tracks commodity, XOP invests in energy stocks.
The approved project is 14 miles from the city of Odessa and includes three wells that will store about 722,000 metric tons of carbon dioxide per year.
President Donald Trump has expressed fury over recent remarks by Russian President Vladimir Putin suggesting Ukrainian President Volodymyr Zelenskyy should be replaced.
In recent days, one particular point of frustration for me has been XOP, the oil and gas producers fund, which lurched higher on a daily basis for weeks. I am confident, however, that this rally has ceased.
The brokerage said Ovintiv's portfolio is more focused now than at “any time in its history,” pointing to its core positions in the Midland and Montney Basins.
Officials from the U.S. and Russia have commenced discussions in Saudi Arabia. The goal of these talks is to establish a comprehensive ceasefire in Ukraine and a distinct Black Sea maritime agreement.
