PowerShares DB Oil ETF
 (DBO)

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  • Sep. 25, 2015, 1:25 PM
    • The number of U.S. rigs (oil and gas) fell four over the last week to 838. The number has fallen 1,093 from a year ago.
    • The number of oil rigs fell four to 640. That number has declined 952 from last year.
    • Total active rigs in Canada of 176 fell six from last week, and 253 from a year ago. The international rig count of 1,137 gained 19 from last week, but fell 202 year-over-year.
    • Crude today is ahead by 1% to $45.32. USO +0.8%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Sep. 25, 2015, 1:25 PM | 31 Comments
  • Sep. 23, 2015, 3:55 PM
    • WTI crude oil settled 4.1% lower at $44.48/bbl after an initially bullish reaction to lower crude inventories was reversed by large gasoline builds that raised concerns about high autumn fuel supplies.
    • Crude prices rose after the EIA's weekly report showed oil stocks falling more than expected, a sign of stronger demand, but oil suddenly turned lower as the same EIA report showed distillate inventories rising to a four-year high - bad news for refiners, who have less incentive to produce more distillates.
    • The draw also was smaller than the 3.7M-barrel decline reported by the American Petroleum Institute, which had helped lift prices since Tuesday night.
    • In the bigger picture are ever-present growth concerns in China, the world’s second-largest oil importer; a reading on Chinese manufacturing overnight fell to a six-and-a-half-year low.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, DIG, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Sep. 23, 2015, 3:55 PM | 45 Comments
  • Sep. 23, 2015, 10:31 AM
    | Sep. 23, 2015, 10:31 AM | 78 Comments
  • Sep. 18, 2015, 3:49 PM
    • Crude oil futures fell by the most in nearly three weeks following the Fed’s decision to keep interest rates unchanged, raising worries about the U.S. economy and energy demand.
    • October WTI futures fell $2.23 (-4.8%) to $44.69/bbl, while November Brent crude slipped $1.61 (-3.3%) to $47.47.
    • News of a third straight weekly decline in active U.S. oil drilling rigs failed to help, as "the industry is getting so much more production from new technology that a decline in working rigs doesn't mean nearly as much as it used to," according to one commodities broker.
    • Meanwhile, Kuwait's oil minister said it would take time for the oil market to balance, indicating OPEC would continue defending market share over production cuts to bolster prices.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, DIG, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXI, FIF, PXJ, DBE, OLO, SZO, NDP, RYE, RJN, FXN, OLEM, DDG, JJE
    | Sep. 18, 2015, 3:49 PM | 58 Comments
  • Sep. 18, 2015, 2:12 PM
    • The number of active U.S. oil drilling rigs fell by 8, the third straight decline after six consecutive weekly increases, according to the latest survey from Baker Hughes.
    • Oil directed rigs now total 644, down 957 Y/Y and lower by 31 during the past three weeks.
    • The total active U.S. rig count, which includes natural gas rigs, fell by 6 to 842, the lowest total since January 2003; compared to last year, the total rig count has fallen by 1,089.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Sep. 18, 2015, 2:12 PM | 65 Comments
  • Sep. 18, 2015, 3:15 AM
    • A last-ditch attempt to derail the Iran nuclear deal failed for a third time in the Senate on Thursday, clearing the way to implement the accord.
    • By a 56-42 vote, the Republican-majority Senate fell short of the 60 votes needed to advance in the 100-member chamber.
    • With no more Senate votes this week, the result ensured Congress will not pass a resolution that would have crippled President Obama's ability to waive many sanctions, including restrictions on energy exports and access to international finance.
    • Crude futures -1.2% to $46.60/bbl
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Sep. 18, 2015, 3:15 AM | 8 Comments
  • Sep. 16, 2015, 2:19 PM
    • Crude oil prices are surging after U.S. inventories at Cushing, Okla., fell for the first time in three weeks, as well as growing optimism that the Fed will hold off on raising interest rates following tame August inflation data.
    • Official data from the U.S. Energy Information Administration showed a total U.S. inventory drop of 2.1M barrels for the week ended Sept. 11, while the drawdown at Cushing, Okla. totaled 1.9M.
    • Some analysts say the EIA report was modestly bullish but does not justify such a large move, so traders wonder if the big jump in oil and other commodities such as gold and silver is a bet on no rate hike tomorrow.
    • WTI crude +5.2% at $46.90/bbl, while Brent crude +3.3% at $49.36, sparking energy to the top of the major stock sectors, but refiners are slumping lower as the gap between WTI and Brent shrinks; precious metals also are up sharply.
    • ETFs: USO, OIL, AGQ, UCO, UWTI, USLV, SCO, BNO, ZSL, DBO, UGL, DWTI, DGP, GLL, DTO, UGLD, DZZ, USL, DSLV, DGL, DBS, DNO, DGZ, DGLD, DBE, OLO, SZO, RJN, USV, UBG, OLEM, JJE, ONG, UBN
    | Sep. 16, 2015, 2:19 PM | 31 Comments
  • Sep. 16, 2015, 10:31 AM
    | Sep. 16, 2015, 10:31 AM | 70 Comments
  • Sep. 15, 2015, 2:31 PM
    • White House press secretary Josh Earnest says the Obama administration does not support a House bill to lift the ban on U.S. oil exports, and such a decision is for the U.S. Commerce Department.
    • Crude earlier popped north of $45 barrel on news of a House vote later this month on lifting the 40-year ban. It's slipped back under $44 - flat on the session - on this latest headline.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Sep. 15, 2015, 2:31 PM | 90 Comments
  • Sep. 15, 2015, 12:56 PM
    • House Republicans plan to vote later this month on a bill to lift the 40-year-old U.S. ban on crude oil exports, a move that would please oil companies lobbying Congress but potentially rattle global oil markets already facing volatility and lower prices.
    • More than a dozen oil companies including Continental Resources (NYSE:CLR), ConocoPhillips (NYSE:COP) and Marathon Oil (NYSE:MRO), have pushed Congress to lift the ban, arguing that unrestrained U.S. oil exports would eliminate market distortions, streamline U.S. production and boost the economy.
    • Some refiners focused on the domestic market such as Phillips 66 (NYSE:PSX), Valero (NYSE:VLO) and Marathon Petroleum (NYSE:MPC) and consumer interest groups oppose the move, saying it would raise gasoline prices.
    • Energy stocks are mostly higher today as crude oil rebounds from recent declines.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Sep. 15, 2015, 12:56 PM | 110 Comments
  • Sep. 14, 2015, 4:46 AM
    • Oil prices retreated this morning in Asia after several banks issues a weak outlook for demand.
    • Morgan Stanley warned oil fundamentals appear to be slipping again outside the U.S., while Macquarie pointed to pressure on global automobile sales as a potential drag.
    • Jefferies lowered its 2015 forecast on Brent oil by 9% to $54 per barrel and by 10% for the 2016 forecast of $61/bbl. WTI and Brent crude futures have declined 9 of the last 11 weeks. Crude futures in New York are down 0.58% to $44.37.
    • A key report on production from OPEC is due out later in the day.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM.
    | Sep. 14, 2015, 4:46 AM | 24 Comments
  • Sep. 12, 2015, 8:25 AM
    • Goldman Sachs generated plenty of buzz yesterday with its prediction that crude oil could fall to $20/bbl due to an abundance of oil and a scarcity of storage space, while an International Energy Agency report suggesting that OPEC was successfully defending market share by keeping output steady amid lower prices was mostly ignored.
    • Production cuts so far are not significant enough, as low-cost output continues to surprise to the upside, Goldman said, and risk that producers with neither strong nor weak balance sheets would want to cut production reinforces the mantra of "lower for longer."
    • But the IEA says "the Saudi-led OPEC strategy to defend market share regardless of price appears to be having the intended effect of driving out costly, ‘inefficient’ production," and U.S. shale oil production could sink next year as oil’s price rout extends a slump in drilling and completion rates.
    • The views of Goldman and the IEA have diverged before, with Goldman coming out on top: In 2005 when Goldman predicted a potential spike to $105/bbl vs. the IEA's outlook for $40-$50, and in late 2008 when Goldman said prices could drop to $30 while the IEA failed to foresee the depth of the oil price plunge and the strength of the eventual recovery.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Sep. 12, 2015, 8:25 AM | 142 Comments
  • Sep. 11, 2015, 2:07 PM
    • The U.S. oil rig count fell by 10 to 652 in the past week, the second straight decline after six consecutive weeks of increases, according to the latest survey from Baker Hughes.
    • Despite recent increases, there are still ~59% fewer rigs working since a peak of 1,609 in October 2014.
    • The number of gas rigs declined by six to 196; for all rigs, the week’s total was down 16 to 848.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Sep. 11, 2015, 2:07 PM | 57 Comments
  • Sep. 11, 2015, 5:04 AM
    • Crude oil is -2.2% at $44.92 despite the IEA predicting the "largest cut in non-OPEC supply in more than two decades" due to low oil prices and as Goldman warns that crude could collapse to $20 a barrel.
    • "The oil market is even more oversupplied than we had expected and we now forecast this surplus to persist in 2016,” Goldman explained, although it also said that $20 isn't its base case scenario.
    • Still, it's a nice figure that generate lots of tweets, as are the forecasts by Goldman and others in the not so distant past that oil would hit $150-$200 a barrel.
    • In its September Oil Market Report, the IEA forecast that non-OPEC supply will drop nearly 0.5M bpd to 57.7M bpd in 2016, "the biggest decline in more than two decades." U.S. light tight oil, the driver of US growth, is seen down 400,000 bpd.
    • OPEC supply dropped 220 000 bpd in August to 31.57 bpd, although that's still 1.2M bpd higher than last year.
    • The IEA predicts that global oil demand will climb to a five-year high of 1.7M bpd this year before easing to 1.4M bpd in 2016.
    • OECD oil inventories rose another 18M barrels in July to a record 2.9B barrels.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, UHN, OLO, SZO, OLEM
    | Sep. 11, 2015, 5:04 AM | 178 Comments
  • Sep. 10, 2015, 11:01 AM
    | Sep. 10, 2015, 11:01 AM | 131 Comments
  • Sep. 4, 2015, 2:10 PM
    • U.S. oil producers idled 13 rigs this week, breaking six straight weeks of increases and marking the steepest drop in the Baker Hughes rig count in more than three months.
    • The oil rig count fell to 662, the sharpest drop since May 29 and 60% decrease from the peak of 1,609 in October 2014.
    • For all rigs, including natural gas, the week’s total also was down 13, to 864.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Sep. 4, 2015, 2:10 PM | 25 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.
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