iShares US Oil & Gas Exploration & Production ETF

IEO

Market cap $554M

Oil rose in early trade amid escalating concerns over supply disruptions in the Middle East.

WTI crude oil is testing key resistance after a strong recovery, with a breakout potentially opening the path toward higher Fibonacci targets.

U.S. refiner margins registered a fresh record high for the third consecutive session on Thursday, as low stockpiles and worsening tensions inthe Middle East threaten potential supply shortfalls in the world's largest fuel consuming nation.

Middle East oil producers are building or contemplating seven pipeline projects that will bypass the Strait of Hormuz. Pipeline capacity in the Middle East could expand to cover more than 60% of the Gulf states' pre-war oil export volume by the end of 2028, according to Goldman Sachs.

U.S. and Iran continue fighting, but traders believe they could start negotiations soon.

Liquefied natural gas is poised to become the United States' second-largest net export industry within ​five years, adding nearly $1.4 trillion to its ‌gross domestic product through 2040, according to an S&P Global Energy study.

Crude oil seems to be stuck in a short-term pattern.

U.S. natural gas futures continued to claw back ground after their slide under $3, edging higher for a third session.

U.S. natural gas futures held steady on Thursday as the market waited for direction from a federal report ​expected to show energy firms added a near-normal amount of gas to storage last week.

Constraints on Russia's refining system have added to the existing crisis, strategists at J.P. Morgan said.