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Why the WTI Crude Oil Price Today Rose to $61.37

The WTI crude oil price today surged above $61 in morning trading on declining inventory data.

The rise in oil prices came after the American Petroleum Institute (API) released a bullish weekly supply report.

Here's what that means for oil price forecasts for the rest of the year...

oil stocks

The Best Oil ETF to Invest in Today

With oil prices ready to continue their rebound, investors are on the hunt for the best oil ETF to invest in now.

WTI oil prices are up 23.2% since they bottomed at $49.65 on March 17. They are still down 37% since June 23, 2014.

That's why we're recommending this oil ETF today...


Why I'm Revising My Oil Outlook… Upward

I just left a closed-door meeting in Paris. Assembled here were some high-powered oil practitioners, the traders selling their productions, and the bankers financing all of it.

As often happens, the pundits and talking heads have been discussing matters quite similar to what was on our agenda. And as usual, their perspectives are very different from those of us "behind the scenes."

As a matter of fact, what I heard at this meeting has led me to believe that I may even have made a misjudgment.

For some time I have been talking in Oil & Energy Investor about a confluence of factors leading to a rise in oil prices. It was heartening to see I was right according to those assembled in my meeting - except for in the case of one interesting factor.


Here's Why WTI Crude Oil Prices Are Down Today

Two reasons why WTI crude oil prices are down today are the Greek debt negotiations and looming Iran deadline.

The international news has big implications on where WTI oil prices are headed the rest of the year.

Here's a breakdown of today's movements...

oil prices

Here's the Latest Saudi Ploy to Control Oil Prices

Something created in London several years ago is beginning to have a major impact on oil prices and the oil market today. Unfortunately, this "something" is just what the Saudis need.

The ongoing battle between Saudi Arabia and American shale production over the international market continues.

Here's how the Saudis are grabbing control over pricing...

Oil Market

These Two Issues Are Affecting the London Oil Market Today

Anomalies in the oil sector tend to hit the London oil market first. And thank goodness we've got a firsthand read on it.

There are two forces at play in the market today – forces that will affect your oil and energy investments, no doubt about it.

Here's what's going on and what it all means...


What Happened at the OPEC Meeting Today?

At today's OPEC meeting, the cartel announced it would maintain its collective output at 30 million barrels a day.

The decision marks the second time since November that OPEC will defy the global supply glut and weak oil prices.

But OPEC has been lying about its production ceiling all along...


Crude Oil Prices Today: $60.83 and $65.56

Crude oil prices today tumbled in response to fresh supply numbers from the EIA.

The agency reported a 1.9 million barrel decline last week. It fell short of analysts' expectations of 2.4 million barrels.

But investors are focused on an even bigger event on Friday that will dictate oil's movement this year...


Don't Buy a Crude Oil Index ETF, Buy This Energy Stock Instead

Many investors are looking to buy a crude oil index ETF to profit from oil's rise throughout 2015.

WTI oil prices are up 7% this year. And we expect oil prices to continue climbing in 2015.

But many crude oil index ETFs have one major problem right now that many investors aren't aware of...

shale oil

Canada's New Shale Oil Field Could Rival the Bakken

Canada's energy industry may be most famous for its world-class oil sands resources. But a new shale oil field could surpass the oil sands as Canada's largest untapped oil reserve.

In fact, it could even rival the massive Bakken shale of North Dakota in terms of recoverable oil.

This area lies north of British Columbia and east of the Yukon. It's the Northwest Territories.

Recent data from Canada's National Energy Board (NEB) and the Northwest Territories Geological Survey shows that this area holds as much as 200 billion barrels of shale oil reserves. That compares to U.S. Geological Survey estimates that the Bakken shale formation will yield up to 7.4 billion barrels.

Not all of this Canadian oil is necessarily recoverable. But the Canol and Bluefish shales contain a total approaching 7 billion barrels of economically viable resources.

Here's a look at the vast potential of Canada's Northwest Territories...