iShares US Oil & Gas Exploration & Production ETF

IEO

Market cap $425M

Oil prices were flat on Friday with both Brent and U.S. West Texas Intermediate moving only a few cents from their closing prices after the likelihood of a U.S. strike on Iran receded.

U.S. is securing higher prices for Venezuelan crude than those before Maduro's capture, said the U.S. Energy Secretary. His comments come as U.S. completed its first sale of Venezuelan oil valued at about $500 million.

Oil futures edged higher in early Asian trade on a likely technical recovery after WTI and Brent crude oil futures settled sharply lower on Thursday.

Crude oil volatility surged after a bullish reversal breakout, with the first pullback now testing former resistance as support while upside momentum remains vulnerable to deeper retracement risk.

Venezuela's interim President Delcy Rodriguez said on Thursday that she was submitting a proposal to reform the country's hydrocarbon law, as investors in the U.S. push for easier access to the South American country's oil industry.

U.S. Energy Secretary Chris Wright said on Thursday the U.S. is getting a 30% higher price for Venezuelan crude oil than Venezuela got before U.S. special forces captured President Nicolas Maduro earlier this month.

Donald Trump's comments indicated that U.S. should not attack Iran in the near term.

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 1% on Thursday.

India's Russian oil imports ​fell to their lowest level in two years in December, as Western sanctions pushed refiners to ‌tap alternatives, lifting OPEC's share of imports to an 11-month high, trade data showed.

The crude oil market has pulled back on Thursday as the markets continue to see a lot of questions about Iran.