ProShares Ultra Bloomberg Crude Oil (UCO) News Today

ProShares Ultra Bloomberg Crude Oil (UCO) shares have climbed today as crude oil markets repeatedly find technical support and investors reduce bearish bets on the ETF. A notable drop in UCO short interest and solid demand forecasts from OPEC underpin the rally, even as oversupply risks and mixed signals from major agencies keep volatility elevated.

• Positive Sentiment: Crude oil markets have repeatedly found technical support in recent sessions, helping stabilize prices. Crude Oil Weekly Price Outlook – Crude Oil Continues to Find Support
• Positive Sentiment: Short interest in UCO fell 21.1% in August to 915,500 shares, reducing bearish pressure on the ETF.
• Positive Sentiment: OPEC maintained its oil demand forecasts and noted a solid global economic growth trend in H2, underpinning near-term demand expectations. OPEC sticks to oil demand forecasts, says economy doing well
• Neutral Sentiment: Early Friday saw a slight rally in crude oil as buyers stepped in on dips, suggesting a floor may be forming despite ongoing oversupply and economic concerns. Crude Oil Price Outlook – Crude Oil Rallies in Early Friday Hours
• Neutral Sentiment: OPEC and the IEA diverge on demand and supply risks, but geopolitical tensions keep a support floor under prices. Oil News: OPEC vs IEA Outlook Splits Traders on Oil Demand and Supply Risks
• Neutral Sentiment: Oil-field services companies are pivoting toward powering data centers to meet AI energy needs, a structural shift with unclear implications for crude demand. Rushing to Meet AI's Energy Needs: Oil-Field Servicers
• Neutral Sentiment: WTI crude steadied near $63.55 as geopolitical risks contrasted with rising inventories and Federal Reserve policy considerations. Natural Gas and Oil Forecast: Oil and Gas Prices Caught Between Fed Policy and Inventories
• Negative Sentiment: Rising OPEC+ output ahead of October has weighed on energy prices due to heightened supply concerns. Natural Gas and Oil Forecast: OPEC+ Output Gains Pressure Energy Prices Lower
• Negative Sentiment: Oil prices extended losses on broad oversupply and U.S. demand worries despite geopolitical supply risks. Oil prices extend losses on oversupply, US demand concerns
• Negative Sentiment: Technical patterns indicate further downside, as crude oil broke down from bear flags toward key support levels. Crude Oil Price Forecast: Extends Decline as Bear Flag Triggers Deeper Targets
• Negative Sentiment: WTI, Brent, and natural gas all fell on oversupply pressures and key technical breaks signaling a bearish outlook. Natural Gas, WTI Oil, Brent Oil Forecasts – Oversupply Pressures and Key Technical Levels Signal Bearish Outlook
• Negative Sentiment: OPEC continues boosting output despite holding demand forecasts, adding to supply concerns. OPEC Keeps Oil Demand View Unchanged as It Continues to Boost Output
• Negative Sentiment: Crude futures slid as weak U.S. demand and rising inventories weighed on sentiment. Oil News: Crude Futures Slide as Weak Demand, IEA Oversupply Analysis Weighs
• Negative Sentiment: The IEA raised its oil supply forecast and pointed to a larger surplus ahead, pressuring prices. IEA Further Lifts Oil Supply View, Pointing to Larger Surplus Ahead
• Negative Sentiment: The IEA also raised its 2025 oil supply forecast after the OPEC+ production hike, signalling growing oversupply. IEA raises 2025 oil supply forecast after OPEC+ output hike decision