VanEck Oil Services ETF

OIH

Market cap $911M

Oil prices edged lower in early trade on Friday, heading for a weekly loss, with uncertainty over global energy supplies after U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet in Hungary to discuss ending the war in Ukraine.

Crude oil sank to $57.29, failing $58.39 Fib support, with a close below $57.77 targeting $55.23-$56.47 zone.

A glut of crude has pushed U.S. oil futures 19% lower over the past year.

Oil markets gained downside momentum as traders reacted to the EIA report.

U.S. crude oil inventories rose by 3.5 million barrels last week for their third consecutive weekly build.

The crude oil market continues to see a lot of noise, as we are sitting on a potential floor in the market, but we continue to see a lot of downward pressures at times. Demand and oversupply are issues that are a big problem for traders to consider at the

Crude oil holds steady as IEA's missing barrels and India-Russia tensions spark uncertainty in supply, complicating the global oil outlook for traders.

A privately financed fund aims to retire 20,000 wells at no cost to taxpayers.

A privately financed fund aims to retire 20,000 wells at no cost to taxpayers.

WTI crude rebounds near $59 as geopolitical tensions tighten supply, while Natural Gas forms a double bottom, hinting at a short-term bullish recovery.