Teucrium WTI Crude Oil ETF (CRUD) - NYSEARCA
CRUD is defunct since December 18, 2014. Lack of AUM
  • Oct. 13, 2014, 7:01 AM
    • Saudi Arabia has privately been telling oil-market investors and analysts that it is ready to accept oil prices below $90 per barrel, and even as low as $80, for up to a year or two, Reuters reports.
    • If true, it would represent a major change in policy for Riyadh, which may believe that weaker prices are necessary to help bring higher revenue in the medium term by limiting new investment and to help slow the expansion of rivals such as the U.S.
    • Saudi would also be defying calls within Opec to cut output  in order to boost prices back up to $100.
    • "Until about three days ago, the absolute and total consensus in the market was the Saudis would cut," says former White House advisor Robert McNally, although that's no longer true. "The market suddenly realizes it is operating without a net."
    • Nymex crude was -1.4% at $84.66 at the time of writing.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | Oct. 13, 2014, 7:01 AM | 10 Comments
  • Oct. 10, 2014, 6:45 AM
    • OPEC countries pumped 30.474m b/d in Sept., the most since Aug. 2013 and 402k b/d more than in Aug. 2014.
    • OPEC maintains forecast for global oil demand growth at 1.05m b/d in 2014 and 1.19m b/d next year.
    • “Production from Libya, Iraq, Angola and Nigeria increased. The recovery in gasoil consumption for industry and transportation use, along with emerging winter demand” will support the market in coming months, it says.
    • Saudi Arabia Sept. crude production +107.1k b/d to 9.704m b/d, after its surprise cut of 408k b/d in Aug.
    • Crude futures were recently -1.5% to $84.48.
    • Source: Monthly Oil Market Report
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
    | Oct. 10, 2014, 6:45 AM | 8 Comments
  • Oct. 10, 2014, 4:04 AM
    • Global stocks are mainly lower as crude prices continue to tumble, with Brent Oil falling to $88.11 a barrel at one point, its lowest since December 2010. At the time of writing, Brent is -1% at $89.18 while Nymex is -1.35% at $84.61.
    • A 5.8% plunge in German exports in August - the figures were released yesterday - is continuing to weigh on world markets.
    • Asia: -1.1%, Hong Kong -1.8%, China -0.6%, India -0.7%.
    • Europe: Euro Stoxx 50 -0.5%, London -0.5%, Paris -0.5%, Frankfurt -0.7%, Madrid -0.4%, Milan -0.5%.
    • U.S. stock futures: Dow flat, S&P +0.1%, Nasdaq -0.3%.
    • Gold -0.6% at $1217.80
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | Oct. 10, 2014, 4:04 AM
  • Oct. 9, 2014, 3:25 PM
    • Crushed by relentless anxiety about oversupply and weakening global demand, Nymex crude oil futures closed down $1.54 at $85.76/bbl, their lowest close since Dec. 2012, while Brent crude fell below $90/bbl for the first time in more than two years.
    • Including today's losses, WTI crude is down 6.2% since the start of the month and Brent has surrendered ~5%.
    • In the face of surging output, a move in WTI below its 10-year average at $82 is not out of the realm of possibility, Brown Brothers Harriman says, adding that "a break of $73/barrel could send WTI toward $64, which corresponds with the 2010 low."
    • Among big oil names so far today: APC -6.3%, LINE -4.6%, EPD -3.8%, DVN -3.8%, MRO -3.6%, HES -3.8%, KMI -3.7%, TOT -3.5%, STO -3.3%, RDS.A -3.1%, OXY -3%, KMP -3%, XOM -2.6%, COP -2.6%, MUR -2.6%, CVX -2.5%, BP -2.4%.
    • ETFs: USO, XLE, OIL, UCO, ERX, VDE, OIH, SCO, ERY, XOP, DIG, BNO, DTO, DBO, DUG, IYE, XES, IEO, CRUD, IEZ, PXE, USL, UWTI, PXJ, FENY, DNO, DWTI, RYE, FXN, SZO, OLO, DDG, OLEM, TWTI
    | Oct. 9, 2014, 3:25 PM | 38 Comments
  • Oct. 9, 2014, 9:56 AM
    • Global oil producers open broadly lower as oil prices continue to slide on concerns about high supplies and weak global economic growth (also): RDS.A -2.7%, STO -2.7%, TOT -2.5%, HES -2%, APC -1.7%, BP -1.6%, CVX -1.5%, COP -1%, XOM -0.8%.
    • Brent prices slump to $91/bbl, approaching two-year intraday lows, and Nymex crude tumbles to $86.67/bbl to an 18-month intraday low.
    • The EIA said yesterday that U.S. crude supplies rose by a more than expected 5% last week, while gasoline and distillate inventories unexpectedly grew as well.
    • Barclays is cutting its oil price forecasts: It now sees U.S. crude averaging $85/bbl in Q4 and $89 in 2015, down from previous estimates of $98 in Q4 and $100 next year, and Brent crude averaging $93/bbl in Q4 and $96 in 2015, down from a respective $106 and $107 previously.
    • ETFs: USO, XLE, OIL, UCO, ERX, VDE, OIH, SCO, ERY, XOP, DIG, BNO, DTO, DBO, DUG, IYE, IEO, CRUD, PXE, USL, UWTI, PXJ, FENY, DNO, DWTI, RYE, FXN, SZO, OLO, DDG, OLEM, TWTI
    | Oct. 9, 2014, 9:56 AM | 15 Comments
  • Oct. 8, 2014, 9:17 AM
    • The path of least resistance for crude oil remains down, and the selling continues following yesterday's losses amid plunging stocks,  lowered growth forecasts from the IMF, and the EIA cutting its oil consumption estimates for this year and next.
    • One month ago, the EIA called for international consumption of 91.55M barrels/day in 2014 and 92.89M in 2015. The latest forecast says 91.47M and 92.71M, respectively.
    • In other news, oil coming from the Bakken Shale boom might have another large customer as companies are plowing ahead with rail depots in California which will allow that state's refiners to take advantage of cheaper U.S. supplies.
    • WTI crude is lower by 1.2% to $87.67 per barrel.
    • USO -1.4% premarket
    • Ahead is the EIA inventory report at 10:30 ET.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, OLEM, TWTI
    | Oct. 8, 2014, 9:17 AM
  • Oct. 2, 2014, 7:49 AM
    • Crude oil is selling off again, with Brent crude oil hitting a 28-month low just above $92/bbl and WTI tumbling to $88.57, after Saudi Arabia cut its official selling prices for its customers across all regions in November.
    • The Saudis were expected to cut output in the coming months to support prices, but the price cuts seem to suggest a drastic reduction in output may not happen, at least not in the near term.
    • "Such measures give rise to doubts about OPEC's long-standing strategy of striving above all for price stability,” a Commerzbank analyst says.
    • But crude has been dropping for months, and Jefferies points to four reasons behind the sustained slide: weak global demand with Q3 estimates up only 800K bbl/day vs. 2013, a surge in Libyan production, dollar strength, speculators.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | Oct. 2, 2014, 7:49 AM | 9 Comments
  • Oct. 1, 2014, 3:59 PM
    • Crude oil prices tumbled to their lowest levels in more than a year on news that Saudi Arabia lowered the official selling prices for its crude oil, which would suggest the Saudis may not reduce output in the coming months to keep prices high.
    • Brent crude fell 0.5% to $94.16/bbl, the lowest settlement since June 28, 2012, while WTI crude for November delivery also fell 0.5% to $90.73, its lowest price since April 23, 2013.
    • Saudi Arabia cut its November oil prices, Reuters reports, marking the fourth straight month of price cuts, indicating it is more focused on maintaining market share in a lower-price environment than on keeping prices high.
    • The kingdom did reduce output in August, but analysts say more drastic cuts would be needed to rebalance the market, as North American production soars and Libyan exports continue to grow.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
    | Oct. 1, 2014, 3:59 PM | 1 Comment
  • Oct. 1, 2014, 3:26 PM
    • U.S. refineries lowered the crude oil they processed by the most in eight months, to 16M bbl/day and down 3.8% from the previous week, as plants began normal seasonal maintenance.
    • Plants typically schedule maintenance in September and October when units move from maximizing gasoline output to producing winter fuels.
    • Examples: Maintenance has begun at Total’s (NYSE:TOT) 225K bbl/day Port Arthur, Tex., refinery, Phillips 66’s (NYSE:PSX) Lake Charles refinery is conducting planned maintenance, and Motiva Enterprises' Norco, La., refinery began planned work this week.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
    | Oct. 1, 2014, 3:26 PM | 1 Comment
  • Sep. 30, 2014, 3:26 PM
    • U.S. oil exports hit a 57-year high in July, averaging 401K bbl/day and up from 396K bbl/day in June and nearly quadruple the 104K exported in July last year, according to the Energy Information Administration.
    • It was the second month in a row that exports were the highest since March 1957, according to EIA data going back to 1920.
    • Most of July's crude-oil exports (373K bbl/day) went to Canada, while 14K bbl/day were exported to Italy, 12K went to Switzerland and 3K to Singapore; the exports to Italy, Switzerland and Singapore were shipments of foreign oil that had previously been imported to the U.S.
    • U.S. oil imports have fallen as domestic production has climbed: The U.S. imported 7.6M bbl/day of crude oil in July, down from 8.1M a year ago, the EIA says.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
    | Sep. 30, 2014, 3:26 PM | 1 Comment
  • Sep. 30, 2014, 4:06 AM
    • The U.S. is set to become the world’s largest producer of liquid petroleum, with output likely to exceed Saudi Arabia’s this month or next for the first time since 1991.
    • U.S. production of oil and related liquids such as ethane and propane was level with Saudi Arabia in June and again in August at about 11.5M barrels a day, according to the International Energy Agency.
    • U.S. crude oil production in August was still lower than both Saudi Arabia and Russia, but overall U.S. leadership in petroleum is accounted for by its higher production of natural gas liquids such as ethane and propane.
    • ETFs: UNG, DGAZ, UGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, GASX, NAGS, MLPG, DCNG, USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | Sep. 30, 2014, 4:06 AM | 5 Comments
  • Sep. 25, 2014, 7:22 PM
    • Up to 30 states could have an average gasoline price of less than $3/gallon by the end of the year, analysts say, as typically declining autumn pump prices are being pulled even lower this year by falling global oil prices.
    • The average in Springfield, Mo., already is below $3, and oil analyst Tom Kloza believes "there will be more, many more" - but not in high-priced states such as California and New York, which likely will keep the overall U.S. average above $3.
    • Falling pump prices have been temporarily halted, as wholesale gasoline prices are rising as refineries in eastern Canada and Texas have been forced to shut units for unplanned repairs at a time when other plants are conducting seasonal maintenance.
    • But prices should be headed back down sometime in October, and gasoline had a head start this year as prices entered September at their lowest level for the beginning of the month in four years.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, OLEM
    | Sep. 25, 2014, 7:22 PM | 5 Comments
  • Sep. 24, 2014, 5:57 PM
    • The going rate for U.S. crude oil could tumble $30 below international benchmarks in the coming decades if U.S. policymakers don’t reverse a ban on exporting crude oil, according to a report by Wood Mackenzie.
    • The falling prices could be made worse by new drilling technology that may double recovery rates and add an additional 1.5M-3M bbl/day of new oil production - as much as 25% more oil than is expected today - the report says.
    • The report is not specific about the kinds of technologies that could draw more oil from the ground, but it cites companies such as EOG Resources (NYSE:EOG) that in the early phase of testing new methods now.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, OLEM
    | Sep. 24, 2014, 5:57 PM | 37 Comments
  • Sep. 24, 2014, 10:45 AM
    • Crude inventories fell 4.3M barrels last week, according to the EIA, vs. expectations for a 400K barrel gain and the previous week's 3.7M barrel gain.
    • The news is enough for a $0.70 cent spike in the price of November crude, now up 0.4% on the session at $91.92.
    • USO +0.4%
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
    | Sep. 24, 2014, 10:45 AM | 2 Comments
  • Sep. 22, 2014, 2:58 PM
    | Sep. 22, 2014, 2:58 PM
  • Sep. 15, 2014, 4:50 AM
    • Condensate exports from the U.S. are continuing for the third straight month, following the easing of a 40-year crude export ban in June.
    • As U.S. condensate supply continues to surge due to the shale boom, oil producers are looking to export a growing surplus, while consumers, such as refiners, have lobbied to keep exports forbidden to ensure lower energy costs in the U.S.
    • Washington has still held back on issuing more permits to export the minimally refined oil, despite growing international pressure to soften the ban,
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Sep. 15, 2014, 4:50 AM
CRUD Description
The Teucrium WTI Crude Oil Fund (NYSE: CRUD) will provide investors unleveraged direct exposure to crude oil without the need for a futures account. The Teucrium WTI Crude Oil Fund was also designed to reduce the effects of contango and backwardation. CRUD, as a result of the diversified futures structure, was specifically designed to reduce the cost of rolling the investment when compared to funds that hold only a single month.
See more details on sponsor's website
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub