PowerShares DB Oil ETF (DBO) - NYSEARCA
  • Fri, Feb. 19, 3:19 PM
    • Total petroleum deliveries in the U.S. last month rose 0.8% to 19.4M barrels per day, according to the API - that's the strongest January level since 2008.
    • Gasoline production hit a January record, as did product exports.
    • Crude oil production of 9.2M barrels per day fell 1.4% from year-ago levels.
    • The price of oil is giving back a chunk of its big gains over the past few sessions - down 3.4% today to $31.82 per barrel, but up from about $26 just over a week ago.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Fri, Feb. 19, 3:19 PM | 12 Comments
  • Fri, Feb. 19, 2:17 PM
    • Investors buying new shares issued by beaten-down energy companies seem to be betting that oil prices are near the bottom and that the shares are coming cheap, WSJ reports.
    • North American oil and gas producers have sold more than $5B of new shares so far this year, and the early returns on the deals have helped stoke investor interest, says energy analyst Bill Costello of Westwood Holdings. “Anybody who has played them has made money... it gives people encouragement.”
    • This week, Devon Energy (NYSE:DVN) boosted the size of its offering by 25% to more than $1.2B to meet investor interest, and Energen (NYSE:EGN) and Raging River Exploration (OTC:RRENF) also increased the amount of stock sold from their original proposals.
    • At the same point a year ago, only $2.9B had been raised through energy stock offerings but activity picked up as investors bet on rising crude prices, which of course resulting in big losses for many.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Fri, Feb. 19, 2:17 PM
  • Fri, Feb. 19, 2:04 PM
    | Fri, Feb. 19, 2:04 PM | 56 Comments
  • Fri, Feb. 19, 7:03 AM
    • Embrace the oil-market volatility, DA Davidson says in a note to investors.
    • "Although we believe crude prices are unsustainable at current levels, global economic growth headwinds, surprisingly resilient production, and Saudi Arabia relinquishing its role as a swing producer likely leads to additional volatility in commodity markets throughout the year. In particular, the next few months should be exceptionally brutal as refinery maintenance fueled inventory surges, continued decreases in drilling and completion capex budgets and calls for coordinated production cuts all compete to determine the short-term direction of crude prices. While it’s hard to call a front month bottom in crude, it typically happens sometime between the 1Q/2Q during refinery maintenance season. Ultimately, meaningful production declines are inevitable at current activity levels which likely mitigate the volatility impact from everything else."
    • Firm says 2016 will be the first time since the 1980s that we've seen two consecutive years of capex decline in the oil sector. Says that this much is clear: i) OPEC will not meaningfully reduce supply, ii) Lower prices will lead to increased consumption (note the surge in SUV sales), iii) The capex cuts are sowing the seeds for the next commodity run, since oil companies need to replace 5-7% of output annually just to offset old well's shrinkage.
    • See also: A Cushing Bloodbath Is Overhyped (Feb. 18), Why OPEC's 'Freeze' Announcement Was Worse Than None At All (Feb. 17).
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Fri, Feb. 19, 7:03 AM | 36 Comments
  • Thu, Feb. 18, 6:27 PM
    • Oil bulls are “clutching at straws" if they believe the recent crude oil rally has staying power, Citigroup analysts warn, saying that “the market clearly wants to see some signs of life in OPEC, but we think bulls... are likely to be better served" by focusing on the summer outlook for gasoline.
    • Iran's buy-in on the Saudi-Russian proposal to freeze production, and market speculation has been that Iran would be offered a cap of 300K bbl/day above its current levels; "That this was not enough speaks either to Iran’s confidence that it can exceed that number this year, or to the breakdown in inter-OPEC relations, or both,” Citi's Seth Kleinman says.
    • However, Michael Purves, head of derivatives strategy at Weeden & Co., notes that the so-called implied volatility of oil prices recently surged to a seven-year high, meaning that the cost of using options as portfolio protection is extreme, which could serve as a "coiled spring" for oil prices and help support short-term gains.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, OLO, SZO, OLEM
    | Thu, Feb. 18, 6:27 PM | 57 Comments
  • Thu, Feb. 18, 11:46 AM
    • Up near $32 per barrel earlier in the session, black gold has returned to about flat at $30.70. At work is a jump in inventories reported by the EIA, along with a story just hitting the wire that the Saudis say they won't cut production.
    • Of course any initial agreement between OPEC and Russia was going to be about a freeze in production, not a cut, so a bull could interpret the Saudi comments as nothing to worry about.
    • USO -0.3%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Thu, Feb. 18, 11:46 AM | 45 Comments
  • Thu, Feb. 18, 11:01 AM
    | Thu, Feb. 18, 11:01 AM | 26 Comments
  • Thu, Feb. 18, 5:09 AM
    • Oil is holding onto the strong gains it recorded yesterday after Iran Oil Minister Bijan Zanganeh said he would support a production "ceiling" to stabilize oil prices, but did not commit to participating in the deal.
    • It was an unexpected move from the country, which had already voiced resistance before the talks in Tehran began, with Iran's OPEC envoy calling plans to freeze output "illogical."
    • If an agreement is reached, it could become the first joint OPEC and non-OPEC deal in 15 years, as oil producers seek to boost persistently low prices.
    • Crude futures +2.2% to $31.34/bbl.
    • Previously: Oil pokes above $30 after bullish comments from Iran (Feb. 17 2016)
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Thu, Feb. 18, 5:09 AM | 20 Comments
  • Wed, Feb. 17, 10:38 AM
    • Earlier, Iran's OPEC envoy was reported as saying it would be "illogical" for the country - just coming out of sanctions - to freeze its oil output.
    • Now the country's oil minister says Iran would support any effort aimed at stabilizing oil prices - including a deal between OPEC and non-OPEC (Russia) producers.
    • The bulls have control for now, with WTI crude higher by 4.1% to $30.27 per barrel. USO +4.1%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Feb. 17, 10:38 AM | 80 Comments
  • Wed, Feb. 17, 2:46 AM
    • Iran appears to be taking a tough line in talks among oil producers on restraining production, despite countries including Saudi Arabia and Russia pledging on Tuesday to freeze their output at January levels.
    • "Asking Iran to freeze its oil production level is illogical...when Iran was under sanctions, some countries raised their output and they caused the drop in oil price," Iran's OPEC envoy, Mehdi Asali, told the Shargh daily newspaper. "How can they expect Iran to cooperate now and pay the price?"
    • The news comes as OPEC President Al-Sada, and Venezuelan and Iraqi officials travel to the Islamic Republic for talks aimed at forming the first global oil production deal in 15 years.
    • Tehran exported around 2.5M barrels per day of crude before 2012; the sanctions cut that to around 1.1M bpd.
    • Crude futures -0.8% to $28.82/bbl.
    • Previously: More shipments of Iranian oil ready to set sail (Feb. 16 2016)
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Wed, Feb. 17, 2:46 AM | 91 Comments
  • Tue, Feb. 16, 7:47 AM
    • The first shipment of Iranian crude oil to the European Union in more than three years sailed yesterday, with two more expected to follow in the coming days.
    • A tanker chartered by Total (NYSE:TOT) sailed with 2M barrels on Monday, another carrying 1M barrels for Spain’s Cepsa is set to follow today, and another tanker with 1M barrels and booked by Lukoil trading arm Litasco arrived this weekend at Iran's Kharg Island terminal and its loading will follow soon after, according to Iranian officials.
    • Iran's deputy oil minister says the country’s crude production had increased by 400K bbl/day, most of its stated short-term, post-sanctions target of ramping up production by 500K bbl/day.
    • Today's announced production freeze by Saudi Arabia, Russia, Venezuela and Qatar does not yet include Iran and Iraq, whose production is rising.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Tue, Feb. 16, 7:47 AM | 1 Comment
  • Tue, Feb. 16, 5:13 AM
    • Top oil officials from Russia, Saudi Arabia and several key OPEC members have agreed to freeze crude output at January levels at a meeting in the Qatari capital of Doha, targeting a supply glut that's sent prices to 13-year-lows.
    • According to the International Energy Agency, Saudi Arabia produced 10.2M bpd last month, below its most recent peak of 10.5M bpd set in June 2015. Russia produced nearly 10.9M bpd in January, a post-Soviet record.
    • Oil soared almost 6% ahead of the meeting - on expectations of a more weighty announcement - but pared gains following the news. Crude futures +1% to $29.72/bbl.
    • Previously: Oil surges ahead of Russia-Saudi meeting (Feb. 16 2016)
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Tue, Feb. 16, 5:13 AM | 115 Comments
  • Tue, Feb. 16, 3:27 AM
    • Crude prices are extending a massive rally as Saudi Arabia's oil minister Ali al-Naimi prepares to meet his Russian, Qatari and Venezuelan counterparts in Doha for a gathering which had been kept under wraps until recent days.
    • It's still unclear what the exact agenda of the talks will be but it raises expectations that OPEC and non-OPEC members may work together to tackle a supply glut that's sent oil prices to 13-year-lows.
    • Crude futures +5.7% to $31.11/bbl.
    • Previously: Crude heads back above $30 (Feb. 15 2016)
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Tue, Feb. 16, 3:27 AM | 55 Comments
  • Mon, Feb. 15, 7:04 AM
    • Oil prices are back above $30 a barrel for the first time in almost a week, extending a recent rally on speculation OPEC might agree to cut production.
    • "The mood inside the OPEC is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout," Nigeria's oil minister told Reuters.
    • Crude's move higher comes despite new oversupply fears from Iran, which just loaded its first cargo to Europe since international sanctions ended.
    • Oil futures +2.4% to $30.15/bbl.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Mon, Feb. 15, 7:04 AM | 113 Comments
  • Sun, Feb. 14, 8:27 AM
    • Crude prices may be under pressure again after Iran sent its first cargo of oil to Europe since the end of international sanctions in January.
    • Tehran is planning three initial shipments to the continent carrying 4M barrels of oil with 2M barrels going to Total (NYSE:TOT) and the rest to companies from Spain and Russia, said Roknoddin Javadi, managing director of the National Iranian Oil Company.
    • More supplies are bound to add to the global crude glut, with the Islamic Republic planning to boost production and exports by 1M bpd in 2016.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    • Previously: Iran sets oil export volumes for Europe (Feb. 08 2016)
    • Previously: WSJ: Iran to sign oil agreement with Total (Jan. 28 2016)
    | Sun, Feb. 14, 8:27 AM | 47 Comments
  • Fri, Feb. 12, 1:57 PM
    | Fri, Feb. 12, 1:57 PM | 62 Comments
DBO Description
The PowerShares DB Oil Fund (Fund) is based on the Deutsche Bank Liquid Commodity Index - Optimum Yield Oil Excess Return™ (Index) and managed by DB Commodity Services LLC. The Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. You cannot invest directly in an index. Ordinary brokerage commissions apply.
See more details on sponsor's website
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub