- Oil prices have been whipsawed as the oil markets digest the ongoing Saudi and UAE feud
- WTI touched $76.96/Bbl in early morning Monday trading before settling over $3/Bbl lower yesterday
- Oil tried recouping some of the losses Tuesday morning before trading back down to session lows ($73.30) following a Dow Jones report describing the UAE’s strategy to boost oil production and market share when demand is high, hit the wire
- Volatility is to be expected when the oil market is caught off guard like it was with the recent OPEC meeting
- Please see our OPEC reference post for a history of OPEC related news
- Money flowing into exchange-traded funds that focus on U.S. oil and gas stocks is at the highest rate in the last ten years (Bloomberg)
- About $17.7 billion has moved into U.S. energy-stocks ETFs so far this year, according to Bloomberg data
- The second-highest inflow year was 2020 at $13.3 billion
- 2019 was the only down year at -$3.9 billion