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USOETF
FollowFollowingUnfollowUnited States Oil Fund, LP
$156.871d -7.2%5d -5.6%settled close · 2026-11-02
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Mkt cap $3.1B (11/2)β -1.6252w $103–170Shares 20.0MInd. Commodity Contracts Brokers & DealersNYSE Arca since 2006HQ Walnut Creek, CA
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Who’s talking about USO
115 long10 neutral51 shortlatest 2026-10-23
| Date | Voice | Stance | Venue | Thesis |
|---|---|---|---|---|
| 2026-10-23 | Unknown | Bullish | Fox Business (uncut) | Geopolitical escalation risk and depleted global supply buffers are driving oil above structural fair value… |
| 2026-10-23 | Helima Croft | Bullish | CNBC (uncut) | Physical oil supply disruption persists because ships transiting Hormuz continue to be targeted and shipping… |
| 2026-10-23 | Felix JauvinCo-host, Forward Guidance (Blockworks) | Bullish | Forward Guidance | Steep Brent backwardation (~$12-13/bbl, front month ~$112 vs March 2027 ~$101) generates built-in positive… |
| 2026-10-23 | Rebecca Babin | Bullish | Liz Ann Sonders (newest) | Hormuz transit is now five times more expensive than start of year requiring three times as many ships… |
| 2026-10-23 | Rebecca Babin | Bullish | Liz Ann Sonders (newest) | Shipping costs through Hormuz are 5x higher and require 3x as many vessels as at the start of the year… |
| 2026-10-23 | Cathie WoodCEO & CIO, ARK Invest | Bearish | Global Money Talk | Robotaxis shifting transportation from combustion to the electric grid will destroy demand for oil (57% of… |
| 2026-10-22 | David Lebovitz | Bearish | Bloomberg TV (uncut) | Oil prices should gradually retreat from current elevated levels as supply conditions and trade rerouting… |
| 2026-10-22 | Lou BasenesePresident & chief market strategist, MDB Capital Holdings | Bullish | Fox Business (uncut) | Escalating Middle East tensions and attacks on Saudi oil infrastructure should push crude prices higher… |
| 2026-10-22 | Matt SmithFounder & CIO, Chronometer Partners | Neutral | CNBC (uncut) | Oil prices should remain elevated over the next 12 days because escalating Iran-related threats to shipping… |
| 2026-10-22 | Unknown | Bullish | Fox Business (uncut) | Ongoing war-driven supply disruption combined with broader inflationary trends supports a sustained upward… |
Show all 176 mentions
| Date | Voice | Stance | Venue | Thesis |
|---|---|---|---|---|
| 2026-10-22 | David Lebovitz | Bearish | Bloomberg Surveillance | Supply rerouting dynamics should allow oil prices to gradually retreat from current elevated levels, though… |
| 2026-10-22 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices (feed) | Oil remains in a clear bull trend driven by depleted inventories and tight markets; deferred futures are… |
| 2026-10-22 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices (feed) | Crude remains in a clear bull trend with the back of the futures curve ripping higher even as the front month… |
| 2026-10-21 | Charles DallaraAdvisory Partner and Chairman, Partners Group USA | Bullish | CNBC (uncut) | Persistent Middle East and Ukraine tensions, disrupted shipping, and higher transport costs should keep oil… |
| 2026-10-21 | Matt Rowe | Neutral | Bloomberg The Close | Disrupted global oil infrastructure and persistently elevated transportation and operating costs should keep… |
| 2026-10-21 | Ineos Energy Chairman | Bullish | Fox Business (uncut) | A decade of carbon-focused policy drove chronic underinvestment in oil and gas, creating structurally tight… |
| 2026-10-20 | Guy Adami (RiskReversal)Trader & CNBC Fast Money panelist | Bullish | CNBC Fast Money Final Trade | Market is materially underpricing simultaneous escalation risk across two geopolitical hotspots — Houthi… |
| 2026-10-20 | Michael RourkeChief Market Strategist, JonesTrading | Bullish | CNBC (uncut) | Crude is in a confirmed technical uptrend with higher highs and higher lows throughout the year, and the… |
| 2026-10-17 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | The Market Huddle | Front-month WTI is artificially suppressed by extreme speculative short positioning while deferred contracts… |
| 2026-10-17 | Paul Tudor JonesFounder/CIO, Tudor Investment Corp | Bullish | The One Percent | Post-midterm geopolitical resolution window has closed — a soft deal on Iran would have happened before the… |
| 2026-10-16 | Peter ZeihanPrincipal, Zeihan on Geopolitics | Bullish | Prof G Pod (Galloway) | Iran's Shahed drones at $40-50K each are exhausting Gulf-state PAC-3 interceptors at $4M each faster than… |
| 2026-10-15 | Mark NewtonHead of Technical Strategy, Fundstrat | Bearish | CNBC (uncut) | US production at 14M+ barrels per day and crude already down over 10% in the past month and a half mean… |
| 2026-10-15 | Mike McGloneSenior commodity strategist, Bloomberg Intelligence | Bearish | Bloomberg TV (uncut) | Record oil production across the US, Canada, Brazil, Guyana, and Venezuela combined with accelerating… |
| 2026-10-15 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices (feed) | Multi-year extremes in gross short positioning are suppressing front-month WTI while deferred contracts have… |
| 2026-10-14 | Mark NewtonHead of Technical Strategy, Fundstrat | Bearish | Fundstrat | Crude oil is breaking below multi-month uptrends and prior peaks from May, signaling technical deterioration… |
| 2026-10-13 | Mike McGloneSenior commodity strategist, Bloomberg Intelligence | Bearish | Bloomberg TV (uncut) | Iran-driven elevation is a temporary political phenomenon that ends near midterms; demand destruction from… |
| 2026-10-13 | Paul Tudor JonesFounder/CIO, Tudor Investment Corp | Bullish | StreetPulse Markets | Post-midterm Middle East resolution uncertainty keeps a sword of Damocles over the oil market with upside… |
| 2026-10-13 | Kevin BookManaging director & head of research, ClearView Energy Partners | Bullish | Bloomberg TV (uncut) | Houthi attacks on Saudi Aramco headquarters and demonstrated ability to target key infrastructure (Abqaiq… |
| 2026-10-13 | Jeffrey ShermanDeputy CIO, DoubleLine Capital | Bullish | DoubleLine Capital | The Iran war has taken ~10% of global oil supply offline, China's strategic stockpile is now depleting, and… |
| 2026-10-12 | Michelle BrouhardHead of policy & geopolitical risk, Kpler | Bullish | Bloomberg TV (uncut) | Middle East crude flows have dropped to 11mb/d vs a 20mb/d 7-day average, Ukraine strikes are eliminating… |
| 2026-10-12 | Ellen WaldPresident, Transversal Consulting; senior fellow, Atlantic Council | Bullish | Bloomberg TV (uncut) | Houthi capability and will to strike Saudi airports and pipelines is intact, ship-to-ship Hormuz transfers… |
| 2026-10-12 | Tina FordhamFounder & geopolitical strategist, Fordham Global Foresight | Bullish | Bloomberg Open Interest | Middle East escalation — Houthi attacks on Saudi Arabia and no credible ceasefire in Russia-Ukraine — leaves… |
| 2026-10-12 | John Catsimatidis | Bearish | Fox Making Money (playlist) | Current oil price spike is geopolitically manufactured with no real underlying shortage, and prices will shed… |
| 2026-10-12 | Dr Amrita SenFounder and Director of Market Intelligence, Energy Aspects | Bullish | Torsten Slok (newest) | A structural lack of global refining capacity combined with Middle Eastern refinery disruptions and elevated… |
| 2026-10-09 | Mike McGloneSenior commodity strategist, Bloomberg Intelligence | Bearish | Bloomberg TV (uncut) | WTI has never ended a calendar year above $100 in its history, US production cost averages $55/barrel making… |
| 2026-10-08 | Cathie WoodCEO & CIO, ARK Invest | Bearish | David Carbutt | Transportation is shifting from gasoline and diesel to electric, meaning oil demand has been peaking since… |
| 2026-10-08 | Michael HowellLiquidity strategist — CrossBorder Capital | Bullish | Wealth Building Blueprint – Vladyslav Grabarskyy | Real-economy strength is driving product prices (diesel already implying ~$160/barrel crude) and the… |
| 2026-10-06 | Barry RitholtzCo-Founder & CIO, Ritholtz Wealth Management | Bullish | The Big Picture (Ritholtz) | The Iran conflict is unlikely to resolve until 2027, keeping Brent above $100 and making energy the single… |
| 2026-10-06 | Dan FerrisEditor, Extreme Value; host, Stansberry Investor Hour | Bullish | Whitney Tilson | Chronic underinvestment in sustaining production amid steadily rising demand should create a durable supply… |
| 2026-10-05 | Carley GarnerSenior commodity strategist & broker, DeCarley Trading | Bearish | Bloomberg Open Interest | Third parabolic rally in 25 years following 2008 and 2022 precedents that both preceded economic slowdowns… |
| 2026-10-02 | Jesse FelderAuthor, The Felder Report | Bullish | Wealthion | In real inflation-adjusted terms, oil at $100 is still near its 40-year average, meaning a genuine… |
| 2026-09-26 | Michael EveryGlobal strategist, Rabobank | Bullish | Macro Voices | Iran's escalation is expanding beyond Hormuz toward the Indian Ocean, threatening ship-to-ship transfers off… |
| 2026-09-25 | Peter TchirHead of Macro Strategy, Academy Securities | Bullish | Bloomberg Surveillance | US-Iran talks are in a 'show me' stage where neither side is ready to concede leverage, so the geopolitical… |
| 2026-09-25 | Michael EveryGlobal strategist, Rabobank | Bullish | Macro Voices | Iran's threats to extend strikes into the Indian Ocean on top of ongoing Hormuz disruptions and Houthi… |
| 2026-09-24 | Michael EveryGlobal strategist, Rabobank | Bullish | Macro Voices | Current oil price decline is based on unjustified hope for peace while geopolitical escalation in the Middle… |
| 2026-09-24 | Michael EveryGlobal strategist, Rabobank | Bullish | Macro Voices | The recent oil price drop is driven by unjustified hope for peace when both the Middle East and… |
| 2026-09-24 | Guy Adami (RiskReversal)Trader & CNBC Fast Money panelist | Bullish | CNBC Fast Money Final Trade | Geopolitical rhetoric around Iran and the Middle East is just talk that will persist through midterms, and… |
| 2026-09-19 | Chris WhalenBanking analyst — Whalen Global Advisors | Bullish | Julia La Roche Show | Houthi control of the Red Sea is forcing the entire refining industry to redeploy away from the Persian Gulf… |
| 2026-09-17 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Strait of Hormuz traffic remains constrained and no immediate resolution to the Middle East conflict exists… |
| 2026-09-17 | David RosenbergEconomist — Rosenberg Research | Bullish | Excess Returns | A small outright oil allocation hedges the portfolio against a geopolitical scenario where oil reaches… |
| 2026-09-16 | Jeffrey GundlachCEO/CIO, DoubleLine Capital | Bullish | Julia La Roche Show | Global oil reserves at all-time lows, US strategic petroleum reserve nearly at its minimum functional level… |
| 2026-09-15 | Carter WorthMarket technician, Worth Charting | Short | CNBC Fast Money Final Trade | Crude oil faces an imminent 7–9% headline-driven selloff, and energy equities (XLE) are already refusing to… |
| 2026-09-12 | Chris WhalenBanking analyst — Whalen Global Advisors | Bullish | Julia La Roche Show | Iran war has created a genuine shortage of petroleum and refined products globally — not a price issue but a… |
| 2026-09-11 | Jeff CurrieCommodities strategist (ex-Goldman) | Bullish | Bloomberg The Close | Product shortages are spreading upstream into crude as Chinese buyers return to exploit the wide… |
| 2026-09-10 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Physical supply disruption is already occurring (not merely feared), global oil inventories have fallen ~400… |
| 2026-09-04 | Cathie WoodCEO & CIO, ARK Invest | Bearish | ARK Invest | OPEC is fracturing as Abu Dhabi exits and lifts production 78% to a record 4M bbl/day while Venezuela may… |
| 2026-09-02 | David RosenbergEconomist — Rosenberg Research | Bullish | David Lin | Supply-demand balance structurally favors higher oil prices independent of the Iran war escalation, and oil… |
| 2026-08-25 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Global crude market is structurally tight due to Strait of Hormuz closure risk and refining capacity… |
| 2026-08-20 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Geopolitical supply tightness from diminished Strait of Hormuz reopening probability keeps oil structurally… |
| 2026-08-20 | Quinn ThompsonFounder & CIO, Lekker Capital | Bullish | Forward Guidance | Strait of Hormuz closure shows no signs of resolution, global crude reserves are being drained to very low… |
| 2026-08-20 | Luke GromenMacro strategist — founder, FFTT | Bullish | Futures Edge Podcast: Finance Unfiltered | SPR drawdown is masking underlying supply tightness visible in crack spreads; oil has tracked 10-year… |
| 2026-08-20 | Bob IaccinoCo-founder, The Unfiltered Investor & Path Trading Partners | Bullish | Luke Gromen | Crude is pressing in a multi-month range with a technical bull-flag setup; Iran war constraints on supply are… |
| 2026-08-18 | David WooIndependent macro strategist (ex-BofA) | Bullish | Wealthion | Iran has an incentive to push Brent toward $100–120 to pressure Trump and will lean on Houthis to resume Red… |
| 2026-08-13 | Michael HowellLiquidity strategist — CrossBorder Capital | Bullish | Macro Voices | The gold/oil ratio is statistically mean-reverting with no long-run trend since 1970; if gold is supported… |
| 2026-08-13 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Middle East supply disruptions (Strait of Hormuz situation) keep oil markets structurally stressed… |
| 2026-08-13 | Art BermanPetroleum geologist & energy analyst | Bullish | Wealthion | Persian Gulf production is down 10 million barrels/day — a larger supply shock than COVID — and Hormuz cannot… |
| 2026-08-08 | Cathie WoodCEO & CIO, ARK Invest | Bearish | ARK Invest | UAE exiting OPEC and pumping at a record 4.1 million bbl/day signals producers believe oil prices have… |
| 2026-08-03 | Jeffrey GundlachCEO/CIO, DoubleLine Capital | Bullish | DoubleLine Capital | US and allied strategic petroleum reserves have been drawn down by hundreds of millions of barrels during the… |
| 2026-07-16 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Crude sold off into deeply oversold territory below $70 and has begun reversing as the Iran conflict… |
| 2026-07-12 | Unknown | Bearish | Fox Business | UAE production increases followed by OPEC raising output to protect market share will oversupply the market… |
| 2026-07-11 | Chris WhalenBanking analyst — Whalen Global Advisors | Bullish | Julia La Roche Show | US physical oil inventories at 20-year lows, ongoing Iran-US hostilities blocking Middle East supply… |
| 2026-07-09 | Jacob ShapiroGeopolitical strategist | Neutral | CNBC International | Despite active Strait of Hormuz disruptions, diversified global supply sources and sharply reduced Chinese… |
| 2026-07-09 | Amrita SenChief oil analyst, Energy Aspects | Neutral | CNBC Television | US revocation of Iranian oil waivers (~130–150M barrels) won't materially tighten fundamentals because China… |
| 2026-07-09 | Donald TrumpU.S. President | Bearish | CNBC International | US military control over Strait of Hormuz shipping lanes plus an existing global oil glut will push crude… |
| 2026-07-08 | Jay Hatfield (Infrastructure Capital)CEO, Infrastructure Capital Advisors | Bearish | Yahoo Finance | OPEC returning to maximum production (~32 million barrels) will create a 4 million barrel supply surplus that… |
| 2026-07-02 | Cathie WoodCEO & CIO, ARK Invest | Bearish | ARK Invest | Transportation electrification across robo-taxis, trucks, and drones is reducing oil demand at the margin… |
| 2026-06-19 | David RosenbergEconomist — Rosenberg Research | Neutral | Rosenberg Research | Brent has already retraced ~90% of its war-induced run-up and fallen 35% from its April peak, but further… |
| 2026-06-19 | Erik TownsendHost, MacroVoices podcast | Bullish | Macro Voices | CTA-driven technical selloff on Iran deal euphoria has overshot fundamentals; SPR at 1983 lows, commercial… |
| 2026-06-18 | Erik TownsendHost, MacroVoices podcast | Bullish | Macro Voices | Physical inventories are at multi-decade lows, the Hormuz deal is not clean, and even if the strait reopens… |
| 2026-06-12 | Jim GrantEditor, Grant's Interest Rate Observer | Bullish | Meb Faber | Supply-demand balance structurally favors oil longs regardless of near-term Iran geopolitical noise, which… |
| 2026-06-12 | Tyler NevilleTrader, Muddy Waters Capital | Bearish | Forward Guidance | Consumer-level demand destruction from high prices is greater than the oil bull camp credits, and a potential… |
| 2026-06-10 | Art BermanPetroleum geologist & energy analyst | Bullish | Wealthion | Strait of Hormuz tanker traffic has collapsed from 138/day pre-war to ~1.3/day as of June 1, Iran has no… |
| 2026-06-02 | Michael HowellLiquidity strategist — CrossBorder Capital | Bullish | Julia La Roche Show | The 60-year gold/oil ratio historically averages ~20x; with gold at $4,000-5,000/oz the ratio-implied oil… |
| 2026-05-28 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Strait of Hormuz closure has drawn down global inventories and any resolution still requires a replenishment… |
| 2026-05-21 | Daniel LacalleChief Economist & CIO, Tressis | Bearish | Wealthion | Deep backwardation in the oil forward curve signals the market is not pricing in sustained upside, and absent… |
| 2026-05-20 | Jim BiancoMacro strategist — Bianco Research | Bullish | Wealthion | Global oil inventories have only weeks left to cover the ~13 million barrel/day deficit caused by the Strait… |
| 2026-05-20 | Tom Lee (Fundstrat)Co-founder & head of research, Fundstrat | Bullish | Meb Faber | Current oil prices do not reflect an acute petroleum supply shortage developing later in 2025, with… |
| 2026-05-15 | Tom Lee (Fundstrat)Co-founder & head of research, Fundstrat | Bullish | Meb Faber | Inventory drawdowns, supply shortages, and restricted strait traffic suggest current oil prices do not… |
| 2026-05-07 | Louis Vincent GaveCo-founder & CEO, Gavekal | Bullish | Macro Voices | Iran has strong financial incentives to keep the Strait of Hormuz closed or tolled, so the market is wrong to… |
| 2026-05-05 | Grant WilliamsFinancial writer & podcast host | Bullish | Grant Williams Podcast | Petroleum is a global necessity that cannot be printed or manufactured by central banks, supply disruption… |
| 2026-05-05 | Paul Tudor JonesFounder/CIO, Tudor Investment Corp | Short | EconFinAiMl | OPEC's announced 7% production cut agreement will unravel because Iraq — one of the five largest producers —… |
| 2026-05-04 | Tom Lee (Fundstrat)Co-founder & head of research, Fundstrat | Bullish | Tom Lee | Acute oil shortages are developing due to the Iran war but futures prices have not yet reflected this… |
| 2026-04-27 | Paul Tudor JonesFounder/CIO, Tudor Investment Corp | Short | Andre H. Grubert | OPEC's announced production-cut agreement will fail because getting 13 nations to honor any deal is… |
| 2026-04-20 | Rupert | Bullish | Jim Chanos | Energy equities have sold off roughly 10% while the WTI forward curve shows an $8–14/barrel premium in the… |
| 2026-04-16 | Rory JohnstonOil analyst — Commodity Context | Bullish | Macro Voices | The largest supply shock in the history of the oil market has not yet been priced into futures because the… |
| 2026-04-16 | Erik TownsendHost, MacroVoices podcast | Bullish | Macro Voices | Macro traders are misreading the lag effect — the last VLCC to transit Hormuz on Feb 28 hasn't arrived yet… |
| 2026-04-10 | Quinn ThompsonFounder & CIO, Lekker Capital | Bullish | interview | The market is pricing the Strait closure as resolved ASAP, but physical disruption persists, so buying $70… |
| 2026-04-10 | Felix JauvinCo-host, Forward Guidance (Blockworks) | Bullish | interview | Oil futures are pricing the Strait disruption as over immediately, creating a mispricing in the back of the… |
| 2026-04-09 | Erik TownsendHost, MacroVoices podcast | Bullish | Macro Voices | At $75, the December 2026 WTI contract is mispriced because SPR rebuilding demand and persistent Strait of… |
| 2026-04-09 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Ceasefire reduced immediacy of the oil risk premium but not the structural disruption — Strait of Hormuz… |
| 2026-04-09 | Peter AtwaterFounder, Financial Insyghts; Adjunct Professor, William & Mary | Bullish | Grant Williams Podcast | Iran conflict has destroyed capacity and delayed production to such a degree that oil prices cannot… |
| 2026-04-08 | Ed MorseSenior adviser & commodities analyst, Hartree Partners | Bearish | Bloomberg The Close | Pre-war oil was structurally oversupplied — excess non-OPEC supply from the US, Brazil, Argentina, and Guyana… |
| 2026-03-30 | Mohamed El-ErianChief economic adviser, Allianz | Bullish | CNBC Television | Physical oil prices in Asia are already at 140-150 while futures lag significantly, and infrastructure damage… |
| 2026-03-30 | Mike McGloneSenior commodity strategist, Bloomberg Intelligence | Bearish | Bloomberg Open Interest | Trump needs lower oil heading into midterms, producers selling forward locking in profits, post-inflation… |
| 2026-03-23 | Joe Terranova (Virtus)Chief market strategist, Virtus | Bearish | CNBC Halftime Final Trades | Trump's political calculus — midterm election risk and consumer pain from high energy costs — functions as a… |
| 2026-03-17 | Marko PapicGeopolitical macro strategist | Bullish | Jacob Shapiro | Iran's threatened closure of the Strait of Hormuz puts a geopolitical risk premium on oil that is… |
| 2026-03-12 | Jim BiancoMacro strategist — Bianco Research | Bullish | Macro Voices | Strait of Hormuz insurance blockage has cut ~7-8 million barrels/day of Gulf production and could rise to… |
| 2026-03-12 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Oil's dip was bought at Fibonacci support and the right tail remains fat given the unresolved Hormuz… |
| 2026-03-12 | Louis Vincent GaveCo-founder & CEO, Gavekal | Bullish | Louis-Vincent Gave | Strait of Hormuz disruption risks removing 15 million barrels from a market with only 2-3 million spare… |
| 2026-03-11 | Luke GromenMacro strategist — founder, FFTT | Bullish | interview | Strait of Hormuz closure has removed roughly 20% of global oil supply, and the US SPR is already materially… |
| 2026-03-10 | Luke GromenMacro strategist — founder, FFTT | Bullish | Goldfinger Capital | Strait of Hormuz closure is far more durable than consensus believes due to exhausted US/Israeli interceptor… |
| 2026-03-09 | Mohamed El-ErianChief economic adviser, Allianz | Bullish | CNBC Television | Middle East conflict disruption to supply chains is not a days-long event but weeks-to-months, making oil… |
| 2026-03-04 | Louis Vincent GaveCo-founder & CEO, Gavekal | Bullish | Louis-Vincent Gave | Strait of Hormuz closure disrupts 20% of global oil supply yet spot prices remain near $73 — market is not… |
| 2026-02-19 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Macro Voices | Over a month of price action above the 50-day moving average with higher highs and higher lows on each… |
| 2026-01-11 | Grant WilliamsFinancial writer & podcast host | Bullish | Grant Williams Podcast | Oil is cheap relative to gold and silver in an era where securing ownership of tangible commodities with real… |
| 2026-01-06 | Mike McGloneSenior commodity strategist, Bloomberg Intelligence | Bearish | Bloomberg Open Interest | The US plus Canada alone runs an 8M bbl/day net crude surplus and Trump's policy agenda explicitly targets… |
| 2025-12-29 | Marko PapicGeopolitical macro strategist | Bullish | Jacob Shapiro | Saudi Arabia's Vision 2030 modernization spending requires higher oil revenues, making current OPEC… |
| 2025-12-04 | Marko PapicGeopolitical macro strategist | Bullish | Macro Voices | Saudi Arabia's domestic fiscal needs will force a shift away from high-production/low-price policy in 2026… |
| 2025-09-26 | Tyler NevilleTrader, Muddy Waters Capital | Bullish | Forward Guidance | Oil is the last major hard asset yet to fully reprice in the secular inflationary nominal-growth environment… |
| 2025-08-12 | Chris VermeulenFounder & Chief Investment Strategist, The Technical Traders | Bearish | Wealthion | Oil bounced into a high-volume resistance zone on a news-driven war spike that has since reversed, and the… |
| 2025-08-04 | Vandana HariFounder & CEO, Vanda Insights | Neutral | interview | Geopolitical risk premium from the Russia-Ukraine war and uncertainty over US secondary tariff threats on… |
| 2025-07-04 | Marko PapicGeopolitical macro strategist | Short | WTFinance | Geopolitical risk premia on oil from Middle East conflicts (Israel-Iran, Russia-Ukraine) dissipate rapidly… |
| 2025-06-27 | Tyler NevilleTrader, Muddy Waters Capital | Bearish | Forward Guidance | Geopolitical conflicts are pre-negotiated behind closed doors (Pippa Malmgren framework), making… |
| 2025-05-28 | Edward DowdFounding Partner, Phinance Technologies | Bearish | Wealthion | Global commodity prices peaked in 2022 and have rolled over since, as Chinese housing completions approach… |
| 2025-05-15 | David WargoCEO & Head of Investment Banking, SCP Resource Finance | Short | Wealthion | OPEC is disintegrating as member countries defect (Angola departed), the US is flooding global supply similar… |
| 2025-03-26 | Marko PapicGeopolitical macro strategist | Bullish | Mauldin Economics | Iran geopolitics, not Russia-Ukraine settlement, is the near-term swing factor for oil — a Russia peace deal… |
| 2025-03-08 | Quinn ThompsonFounder & CIO, Lekker Capital | Bullish | Forward Guidance | Buying crude in the mid-60s range while collecting a consistent 2–8% annualized positive roll yield from… |
| 2025-03-07 | Steve HankeProfessor of Applied Economics, Johns Hopkins University | Bearish | Wealthion | OPEC holds substantial excess capacity while non-OPEC producers can cover all incremental global demand… |
| 2025-02-28 | Cem KarsanFounder & CIO, Kai Volatility Advisors | Bullish | Forward Guidance | Dollar weakness plus China demand recovery plus supply constraints from geopolitical risk (Iran, Venezuela)… |
| 2025-02-28 | Quinn ThompsonFounder & CIO, Lekker Capital | Bullish | Forward Guidance | Drill-baby-drill capex cycle cannot immediately boost supply without higher prices as incentive; Permian… |
| 2025-02-21 | Felix JauvinCo-host, Forward Guidance (Blockworks) | Bullish | Forward Guidance | Supply cannot respond quickly to demand because US capex cycles require 6-12 month runway, publicly-listed… |
| 2025-02-13 | Michael KaoFounder, Akanthos Capital Management | Bearish | Wealthion | Trump's policy framework — Saudi security guarantees in exchange for production increases, domestic… |
| 2025-01-31 | Simon HuntFounder, Simon Hunt Strategic Services | Bullish | Wealthion | Oil remains the indispensable energy source for human society and industry; new Permian Basin breakeven costs… |
| 2025-01-15 | Warren PiesCo-founder, 3Fourteen Research | Bearish | Forward Guidance | Oil is range-bound to down: crack spreads have not confirmed the sanctions-driven price spike, demand is… |
| 2024-12-25 | Chris VermeulenFounder & Chief Investment Strategist, The Technical Traders | Bearish | Wealthion | Pennant/halfway-point formation after the initial selloff projects a second leg down to roughly $45/barrel… |
| 2024-12-17 | Jeffrey GundlachCEO/CIO, DoubleLine Capital | Neutral | Future Proof | Oil below $70 (down from $80) implies a further ~50bp drop in CPI per $10 decline, which would push CPI to a… |
| 2024-12-07 | Capital FlowsFounder, Capital Flows Research | Short | Forward Guidance | Massive structural supply surplus, every geopolitical risk premium gets sold hard (couldn't break $77 on the… |
| 2024-12-07 | Quinn ThompsonFounder & CIO, Lekker Capital | Bullish | Forward Guidance | Fiscal and monetary stimulus globally puts a floor under oil; futures provide positive carry even as spot… |
| 2024-12-07 | Ed YardeniPresident, Yardeni Research | Neutral | Wealthion | China's burst property bubble suppresses demand, US production at a record 13M barrels/day floods supply, and… |
| 2024-12-03 | Ed YardeniPresident, Yardeni Research | Neutral | Wealthion | China's property bubble has crushed the biggest source of incremental oil demand while U.S. production sits… |
| 2024-11-30 | Ron WilliamFounder & Market Strategist, RW Advisory | Bullish | Wealthion | The pro-energy Trump administration ('drill baby drill' appointments), ongoing Middle East geopolitical risk… |
| 2024-11-13 | Jonathan WellumCEO & CIO, RockLinc Investment Partners | Bearish | Wealthion | Trump drill-more policy combined with Saudi willingness to defend market share will pressure prices lower… |
| 2024-11-02 | David WooIndependent macro strategist (ex-BofA) | Bearish | Wealthion | A Trump win accelerates US oil production by ~3M bbl/day, China's EV transition structurally weakens demand… |
| 2024-11-01 | Marko PapicGeopolitical macro strategist | Neutral | Lead-Lag Media | The Saudi-Iranian détente restrains Iran from retaliating against oil infrastructure even amid… |
| 2024-10-29 | David WooIndependent macro strategist (ex-BofA) | Bearish | Wealthion | A Trump win accelerates US oil production by ~3M barrels/day, Chinese demand is structurally weakening as EVs… |
| 2024-10-26 | Jared DillianAuthor, The Daily Dirtnap | Bullish | Wealthion | Oil demand is at all-time highs while geopolitical risk around an Israeli strike on Iranian oil or nuclear… |
| 2024-10-22 | Jared DillianAuthor, The Daily Dirtnap | Bullish | Wealthion | Market is underpricing Israel-Iran geopolitical risk — Netanyahu's denial of striking Iranian oil facilities… |
| 2024-10-12 | Chris VermeulenFounder & Chief Investment Strategist, The Technical Traders | Bearish | Wealthion | Pennant/consolidation formation on the oil chart is typically a halfway-point pattern, projecting the next… |
| 2024-10-08 | Chris VermeulenFounder & Chief Investment Strategist, The Technical Traders | Bearish | Wealthion | The current pennant consolidation on the oil chart is a classic halfway-point pattern; measuring the prior… |
| 2024-10-01 | Jeremy SchwartzGlobal CIO, WisdomTree | Bullish | Wealthion | Oil serves as a portfolio hedge against geopolitical risk and would be a direct beneficiary if China's… |
| 2024-09-24 | Tavi CostaPartner, Crescat Capital | Bullish | Wealthion | CFTC net longs are at two-decade lows while oil has already priced in a hard landing that equities haven't… |
| 2024-09-12 | Jared DillianAuthor, The Daily Dirtnap | Bullish | Wealthion | Managed-money net short positioning in crude oil is at roughly 36% of total open interest — an extreme only… |
| 2024-09-07 | Tyler NevilleTrader, Muddy Waters Capital | Bearish | Forward Guidance | China's economic contraction — collapsing M1, stagnant credit growth, activity back to 2020 levels — is the… |
| 2024-08-28 | Paul SankeyFounder, Sankey Research | Short | Bloomberg Surveillance | Oil faces Q4 seasonal demand weakness while OPEC wants to unwind supply restraints, with 3 million… |
| 2024-08-28 | Paul SankeyFounder, Sankey Research | Bearish | Bloomberg Surveillance | Seasonal demand weakens materially in Q4 while OPEC+ — particularly the UAE with ambitions to raise output by… |
| 2024-08-10 | Marko PapicGeopolitical macro strategist | Short | The Market Huddle | By May 2022, material constraints on Russia, absence of secondary sanctions making the oil embargo a PR… |
| 2023-10-05 | Luke GromenMacro strategist — founder, FFTT | Bullish | ForexAnalytix | The recent ~$15/barrel selloff in oil appears to be a government intervention (Treasury ESF) to relieve… |
| 2023-09-27 | Mark MobiusEM investor — ex-Franklin Templeton | Bearish | CNBC-TV18 | Accelerating shift to energy alternatives and a strong US dollar suggest crude prices are near a cyclical… |
| 2023-09-14 | Patrick Ceresna (Macro Voices)Co-host, MacroVoices & Market Huddle | Bullish | Harley Bassman | WTI broke out to a new uptrend after cleanly testing the 50-day moving average in August; technical structure… |
| 2023-06-19 | Luke GromenMacro strategist — founder, FFTT | Bullish | ForexAnalytix | US shale production is peaking and rolling over with a high natural decline rate while the SPR is depleted… |
| 2023-06-13 | Liz PeekFox News contributor & columnist | Bullish | Fox Mornings with Maria | China's post-lockdown stimulus is ramping demand while Saudi Arabia and OPEC+ are actively constraining… |
| 2022-12-15 | Marko PapicGeopolitical macro strategist | Short | Excess Returns | Geopolitical risk premium in oil was overpriced relative to cratering Chinese demand (measured by non-oil… |
| 2022-12-08 | Bob RobottiPresident & CIO, Robotti & Company | Bullish | The Business Brew | Global spare productive capacity has collapsed from a ~20M b/d buffer in 1985 to roughly 2M b/d today against… |
| 2022-10-19 | Harris KuppermanFounder, Praetorian Capital | Bullish | Meb Faber | A ~5-million-barrel structural deficit is converging as SPR releases end, China COVID lockdowns lift… |
| 2022-07-21 | Erik TownsendHost, MacroVoices podcast | Bullish | Harley Bassman | Physical crude market shows record-setting backwardation indicating extreme structural tightness, driven by a… |
| 2022-07-14 | Erik TownsendHost, MacroVoices podcast | Bullish | Zoltan Pozsar | The macro-driven futures sell-off is decoupled from physical market reality — front-month time spreads are… |
| 2022-04-10 | Chris BloomstranPresident & CIO, Semper Augustus Investments | Bullish | Preston Pysh | Structural supply shortage from underinvestment, refining capacity conversion to renewable diesel, labor and… |
| 2021-12-30 | Erik TownsendHost, MacroVoices podcast | Bullish | Louis-Vincent Gave | The world is phasing out oil faster than alternatives can replace it while simultaneously halting investment… |
| 2021-10-31 | Larry FinkChairman/CEO, BlackRock | Bullish | FII Institute | Short-term energy supply policies restricting hydrocarbon production combined with lack of demand mitigation… |
| 2019-01-28 | Brent JohnsonCEO, Santiago Capital | Bearish | The Jay Martin Show | Global growth deterioration from dollar strength and synchronized EM stress will weigh on energy demand |
| 2018-12-28 | Cathie WoodCEO & CIO, ARK Invest | Bearish | CNBC Television | Electric and autonomous electric vehicles will cause global oil demand to peak secularly within one to two… |
| 2018-03-18 | Bill MillerFounder, Miller Value Partners (retired) | Bearish | The Intrinsic Value Podcast | US shale production is rising very rapidly, which has likely capped oil prices near the low-to-mid $60s as… |
| 2016-09-03 | Raoul PalCo-founder, Real Vision; ex-GLG PM | Bearish | The Intrinsic Value Podcast | The dollar is the denominator of all commodity prices, so a sustained dollar bull market mechanically drives… |
| 2015-12-03 | T Boone PickensFounder, BP Capital (died 2019-09) | Bullish | Carl Icahn | Saudi-induced US rig-count collapse (from ~1,600 to ~514 rigs) is mechanically removing ~500k barrels/day of… |
| 2014-07-22 | Mike NovogratzFounder/CEO, Galaxy Digital | Bullish | The New Yorker | Emerging market demand for energy from billions of new consumers in China and India has structurally pushed… |
| 2012-03-23 | Guy SpierManaging Partner, Aquamarine Fund | Bullish | Bloomberg Originals | The political blowback from the Gulf of Mexico spill will constrain future US drilling, tightening supply and… |
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The options tape
Notable options days
Sessions in the last 120 where USO’s settled options volume ran ≥ 2× its trailing 20-session baseline, or delta-dollar flow ran ≥ 2.5× — 2 of 120 sessions qualified.
The qualifying dates are the free record. Close, flow, call/LEAPS mix and the 20-session outcome — for every session below — are member content.
| Date | Close | RVOL | Δ$ flow ($M) | Call % | LEAPS % | +20 sess. |
|---|---|---|---|---|---|---|
| 2026-09-10 | ||||||
| 2026-07-23 |
+20 sess. = raw price change over the following 20
sessions — not market-adjusted; the tape tells you where to look,
not what happens next.
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