PowerShares DB Oil ETF
 (DBO)

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  • Jan. 14, 2015, 3:07 PM
    • A $3 move higher in the last hour has WTI crude oil ahead by almost 6% on the session and above $48 per barrel. There's no particular news behind the move, just a heavily oversold asset burning a few greedy shorts.
    • Earlier, the EIA reported an unexpected big increase in crude inventories. When the bears couldn't take oil any lower on the news, it likely rang a bell to start buying.
    • Previously: EIA Petroleum Inventories (Jan. 14)
    • USO +3.6%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 14, 2015, 3:07 PM | 39 Comments
  • Jan. 14, 2015, 11:13 AM
    | Jan. 14, 2015, 11:13 AM | 31 Comments
  • Jan. 14, 2015, 4:31 AM
    • World shares are on the decline today, as commodity prices dropped and falling oil prices continued to weigh on global equity markets.
    • The World Bank yesterday cut its forecast for global growth this year amid worsening prospects in Europe and China.
    • Oil is now down for a fourth day - Brent crude is 1.6% lower at $45.86/bbl and WTI is down 1.6% at $45.16.
    • FTSE 100 -1.6; DAX -0.9; CAC 40 -1.1; Euro Stoxx 50 -0.9.
    • Nikkei closed down 1.7%; Shanghai and Hang Seng closed down 0.4%.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 14, 2015, 4:31 AM | 3 Comments
  • Jan. 13, 2015, 4:31 AM
    • Brent crude and WTI continued their headlong plunge today, hitting record six-year lows, as an oil minister from OPEC reiterated that the group would not change its production strategy.
    • The United Arab Emirates will continue to expand output, while shale drillers will probably be the first to curb production as prices fall, said Energy Minister Suhail Al Mazrouei.
    • Brent crude is down 3.3% at $45.86, while WTI passed the key $45, plunging 3.1% to $44.66.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 13, 2015, 4:31 AM | 16 Comments
  • Jan. 12, 2015, 8:18 AM
    • Brent crude plunges below $50/bbl after Goldman Sachs slashes its three-month forecasts for Brent to $42/bbl from $80/bbl and for WTI to $41/bbl from $70, while also cutting its full-year Brent forecast to $50.40 from $83.75 and U.S. crude to $47.15 from $73.75.
    • Brent now trades at ~$48.50/bbl, -3.3%, while WTI futures -3.2% to dip below $47.
    • Goldman believes the oil market could remain in a deep contango for about a year without hitting any significant storage constraints; the firm notes a shift in how quickly capital now translates into increased shale production, meaning that crude needs to stay low for a long time to bring about price recovery.
    • Société Générale also cuts its Brent price forecast by $15 to average $55/bbl in 2015 and for WTI crude by $14 to $51/bbl, due to the buildup in oil storage and inventories.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 12, 2015, 8:18 AM | 15 Comments
  • Jan. 11, 2015, 10:00 AM
    • With Venezuela's Nicolas Maduro by his side, Iran's Hassan Rouhani urged OPEC members to "neutralize schemes by some powers against OPEC and help stabilize an acceptable oil price in 2015."
    • Heavily relying on high prices to drive their economies, the current plunge in oil has placed a severe strain on the two countries.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 11, 2015, 10:00 AM | 34 Comments
  • Jan. 9, 2015, 3:48 PM
    | Jan. 9, 2015, 3:48 PM | 6 Comments
  • Jan. 8, 2015, 11:09 AM
    • Renowned oil trader Andrew Hall is calling a floor on oil at $40/bbl and sees some recovery in H2 of this year, convinced that current prices are not sustainable in the longer term.
    • "The interplay between extreme weakness in the short term and the potential for supply shortfalls in the medium term should create attractive trading opportunities over the course of the coming 12 months,” Hall says.
    • Cuts in spending this year will set the stage for an eventual supply shortfall, according to Hall; low prices also increase the risk of geopolitical instability, another factor that could boost oil if a major producer is unable to make exports.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 8, 2015, 11:09 AM | 5 Comments
  • Jan. 7, 2015, 10:53 AM
    • Crude oil inventories slid 3.1M barrels last week, reports the EIA, vs. last week's 1.8M decline and expectations for a gain of 900K.
    • Gasoline stocks, however, soared 8.1M barrels vs. 3M the previous week, and expectations for 3.4M. Distillates stocks jumped 11.2M barrels vs. 1.9M the previous week, and expectations for 1.9M.
    • Enjoying a sizable bounce earlier in the session, WTI crude has given up those gains and turned slightly negative, now at $47.84 per barrel.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 7, 2015, 10:53 AM | 9 Comments
  • Jan. 7, 2015, 3:15 AM
    • For the first time in five and a half-years, Brent crude has fallen below the $50/barrel mark.
    • Sliding another 2% overnight, oil prices continue to be pushed down by global economic growth fears and excess supply.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 7, 2015, 3:15 AM | 7 Comments
  • Jan. 6, 2015, 11:46 AM
    • "There is no compelling reason why oil prices cannot fall further in the near term," writes Capital Economics' Julian Jessop, as Saudi Arabia's King Abdullah makes clear his belief that the slow global economy - not oversupply - is behind the drop in crude prices.
    • The kingdom lowered its benchmark price again yesterday, another sign its more concerned with market share and sending oil prices low enough to make U.S. shale production unprofitable.
    • WTI crude is at the session low, -3.7% to $48.20 per barrel.
    • USO -3.2%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    • The oil sector, meanwhile, is again the main drag on the major averages, with the XLE -1.9%, leading the S&P 500's (SPY -0.9%) decline.
    | Jan. 6, 2015, 11:46 AM | 19 Comments
  • Jan. 6, 2015, 3:00 AM
    • After falling under $50 a barrel for the first time in five years yesterday, WTI crude is back below the key price mark, down 1.3% at $49.39/bbl.
    • WTI is now off 54% from its 2014 high set in mid-June as it continues to tumble due to a global supply glut.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 6, 2015, 3:00 AM | 32 Comments
  • Jan. 5, 2015, 3:29 PM
    • The number of rigs drilling in the U.S. falls for the fourth straight week, losing 29 for a total of 1,811, according to Baker Hughes' (NYSE:BHI) latest tally.
    • Since Dec. 5, the count has plunged by 109 units but is still 60 ahead of the count in the first week of January a year ago.
    • Canada's count is declining more rapidly than the U.S., shedding 48 units on the week to 208 and down 74 units compared with this week a year ago.
    • Jamie Webster of IHS says the supply decline will take time; U.S. shale drillers aren’t going to stop drilling altogether, but they’ll be more selective about the wells they drill as oil prices fall, he says.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 5, 2015, 3:29 PM | 21 Comments
  • Jan. 5, 2015, 12:18 PM
    | Jan. 5, 2015, 12:18 PM | 71 Comments
  • Jan. 5, 2015, 11:37 AM
    | Jan. 5, 2015, 11:37 AM | 19 Comments
  • Jan. 5, 2015, 1:44 AM
    • Extending the drop from its lowest close since 2009, oil is again on the decline. Record Russian production and the highest Iraqi exports since 1980 are adding to the concerns of oversupply.
    • Brent crude is down 1.5% at $55.58/bbl. WTI is down 2% at $51.64.
    • The two oil benchmarks have now lost more than half of their value from peaks hit in mid-2014.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Jan. 5, 2015, 1:44 AM | 14 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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