United States Oil Fund LP

USO holds predominantly short-term NYMEX futures contracts on WTI crude oil.

Energy Select Sector SPDR Fund

SPDR S&P Oil & Gas Exploration & Production ETF

Hello! This is MarketWatch reporter Isabel Wang bringing you this week's ETF Wrap. In this week's edition, we look at ETFs in the soaring energy sector, which are taking the lead again after a recent jump in crude-oil prices following Saudi Arabia and Russia's decisions to extend their voluntary oil production cuts through the end of 2023.

Energy ETFs are outshining the S&P 500, but it's not just because of the oil rally

United States Brent Oil Fund LP

Invesco DB Oil Fund

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares

iShares U.S. Oil & Gas Exploration & Production ETF

VanEck Vectors Oil Services ETF

iPath Pure Beta Crude Oil ETN

Invesco Dynamic Oil & Gas Services ETF

ProShares Ultra Bloomberg Crude Oil

Oil futures settled lower on Thursday, giving back some of the recent gains that lifted prices to their highest levels of the year. “Even though we have seen a good rally in crude recently, we see the energy complex continuing to go higher,” said Tariq Zahir, managing member at Tyche Capital Advisors, “with the recent Saudi news along with Russia extending production cuts until the end of the year.

Oil futures settle lower, easing back after a rally to the year's highest levels

The EIA report showed that U.S. was buying oil for the Strategic Petroleum Reserve despite rising oil prices.

Crude Inventories Decreased By 6.3 Million Barrels

Central bankers like to focus on core inflation readings, which strip out food and energy prices, but that doesn't mean that they, or investors, will be able to ignore a renewed surge in crude-oil prices.

Why crude-oil rally can't be ignored by investors — or the Fed

Crude oil markets have done very little during the trading session on Thursday, as we are starting to run into the possibility of gravity taking over.

Crude Oil Price Forecast – Crude Oil Markets Continue to Hover

The Biden administration is worried that gasoline could rise to $5 a gallon. They could easily counter the pressure immediately by easing sanctions on Venezuela.

US Sanctions Driving Oil Supply Squeeze With OPEC+ Cuts

Oil futures lost ground early Thursday, threating to snap a nine-day winning streak for the U.S. crude benchmark amid a rally that has taken prices to 2023 highs.

Oil prices take a breather after 9-day winning streak pushes crude to 2023 highs

Worries about demand, spurred by falling China trade, are probably to blame for the slight decline after Russia and Saudi Arabia this week pledged to limit production.

Oil Prices Drop After 9-Day Winning Streak

Crude Oil News: U.S. inventories project a drop, signaling tighter supplies and shifting market dynamics.

Oil Prices Forecast: Navigating the Bullish Surge Amid OPEC Production Cuts, US Inventory Drops

Oil prices edged higher on Thursday, after industry data showed U.S. crude oil inventories were expected to have fallen last week, signaling tightening supplies on top of extended production cuts in Saudi Arabia and Russia.

Oil prices edge up on anticipated US crude stock draw

Oil prices could climb well into triple-digit territory by next year if Russia and Saudi Arabia don't unwind their aggressive supply cuts, Goldman Sachs warned its clients.

Oil could hit $107 due to Saudi Arabia's and Russia's supply cuts, Goldman Sachs warns

Oil futures climbed on Wednesday, lifting U.S. prices up a ninth straight session to settle at a fresh high for the year. Prices got a boost from upbeat U.S. economic data and recent decisions by Saudi Arabia and Russia to extend their voluntary production cuts to the end of the year.

Oil prices post fresh year-to-date settlement high

Oil traders remain focused on the bullish impact of production cuts.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Test New Highs

Crude oil markets were slightly negative during the trading session on Wednesday, as it looks like the momentum in the recent rally has finally run out.

Crude Oil Price Forecast – Crude Oil Stalls

A jump in crude oil prices and further weakening in China sent stocks lower to kick off the holiday shortened week.

Rising Oil Prices And Weakening Chinese Data

Goldman Sachs (NYSE:GS) has spotlighted a potential bullish trajectory for crude oil prices, suggesting that Brent could soar to as much as $107 per barrel (bbl) by December next year, a significant leap from its current forecast of $93/bbl for the same period. This revision comes in the wake of Saudi Arabia and Russia's unexpected announcement to extend their unilateral additional output cuts by three months through December 2023.

Could Brent crude shoot above $100 a barrel - here's what Goldman thinks

Oil futures edged lower early Wednesday, pulling back a day after ending at 2023 highs following the extension of supply cuts by Saudi Arabia and Russia.

Oil prices pull back from 2023 highs

Shell PLC

Prolonged cuts to oil production by the likes of Saudi Arabia means drivers could well be yet to face the worst of rising petrol and diesel prices. Despite recent price movements among the most rapid monthly hikes since 2000, motor group RAC warned the worst could be yet to come.

Petrol prices to keep rising prompting warnings on inflation

Saudi Arabia and Russia said they will extend oil supply cuts of 1.3 million barrels a day through December 2023. The Tuesday announcements sent prices of benchmark oil futures shooting to their 10-month highs.

A key global oil price zoomed past $90 a barrel for the first time in 2023 — and analysts say it could keep inflation high

OPEC giants extend voluntary cuts, with crude oil futures nearing 9-month peaks as global inventory concerns rise.

Oil Prices Forecast: Inventory Concerns Rise as OPEC+ Extends Output Cuts

Oil prices ticked up on Thursday, as markets worried about a supply shortage after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year.

Oil prices edge higher on supply woes as Saudi, Russia extend output cuts

The S&P 500's energy sector also rose to an eight-month high.

Oil Prices Soar To 2023 Highs—Threatening Higher Prices At The Pump After Output Cuts

Oil prices have climbed to their highest levels of the year, buoyed in part by news that Saudi Arabia and Russia have extended their production cuts to the end of the year, even as demand uncertainty continues to hang over the market outlook.

Oil trades at 2023 highs. Are U.S. prices headed for $100?

Brent crude surpassed $90 a barrel for the first time since November on Tuesday. Oil prices climbed after Saudi Arabia and Russia committed to further production cuts until December.

Oil prices soar to 10-month high as Russia and Saudi Arabia commit to slash production for longer

U.S. oil futures settled Tuesday at their highest since November, lifted by news that Saudi Arabia and Russia have decided to extend their production cuts to the end of the year. October West Texas Intermediate crude CLV23, +1.19% climbed $1.14, or 1.3%, to settle at $86.69 a barrel on the New York Mercantile Exchange.

News for United States Oil Fund LP ETF (USO)