VanEck Oil Services ETF

OIH

Market cap $1.17B

Trump's special envoy Witkoff is discussing the details of a Ukraine peace plan with Russia's Putin in Moscow.

Technical indicators of oil and gas producers in the U.S. and Canada are flashing green.

WTI oil and Brent markets attempted early rallies but quickly reversed from key downtrend levels. Both grades continue to struggle with heavy supply pressures and weak demand, keeping prices capped and favoring strategies that fade short-term rallies.

OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more closely aligned with each country's real capacity.

The internet is filled with claims that oil is undervalued compared to, for example, gold prices, the stock market, historical levels and so forth, even as the President calls for prices to fall further. Many of those arguing prices are cheap appear to be price bulls who are relying more on financial indicators than market fundamentals or basic microeconomics, but others point to factors such as low surplus capacity in OPEC and a possible decline in shale oil production.

Crude oil futures hover at the $69.23 mid-point as Ukrainian drone strikes and Venezuela tensions clash with Putin peace talks. Key levels in focus.

Geopolitical tensions lift natural gas and oil as rising channels, EMA support and strong RSI readings point to further upside across energy markets.

Oil remains range-bound below key resistance despite geopolitical tensions, while natural gas extends its bullish breakout above $4.70, signaling continued upward momentum.

Oil prices climbed in early trade on Tuesday for a second consecutive session as market participants assessed risks stemming from Ukrainian drone strikes on Russian energy sites and mounting U.S.-Venezuela tensions.

Oil edged higher in early Asian trading amid supply chain disruption.