PowerShares DB Oil ETF
 (DBO)

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  • Dec. 23, 2015, 2:33 AM
    • Another big day for oil prices! West Texas Intermediate on Tuesday settled at a premium to its global counterpart Brent crude for the first time in more than five years, and the spread between the two benchmarks is now nonexistent.
    • While the lifting of the U.S. oil export ban and a surprise dip in inventories could be triggering the move, analysts focused on investor sentiment ahead of the holidays, with traders covering shorts and squaring away their positions.
    • Brent +1% to $36.48; WTI +0.9% to $36.48.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 23, 2015, 2:33 AM | 44 Comments
  • Dec. 22, 2015, 6:56 PM
    • The IMF says a resurgence in Iranian oil exports next year could push crude prices down by $5-$15/bbl, deepening the oil downturn that already has ravaged the industry.
    • Although the market likely has baked in some of the impact of Iran’s future exports, crude prices could sink further once the country’s oil production actually begins to rise, the IMF says.
    • Iran’s exports have fallen by ~1M bbl/day since 2011, the year before the start of western sanctions on Iran’s exports; Iran had 36M barrels of oil stored in offshore tankers as of last month.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 22, 2015, 6:56 PM | 80 Comments
  • Dec. 22, 2015, 6:23 AM
    • The oil market is recovering slightly after a volatile start to the week when Brent touched lows not seen since 2004 and West Texas Intermediate sank below $34/bbl for the first time since 2009.
    • Analysts are citing Wednesday's WTI contract rollover into February as a significant factor for the positive start to Tuesday's session, with traders and money managers preparing for the Western Hemisphere's harsher winter months.
    • Brent +0.5% to $36.53; WTI +0.9% to $36.13.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 22, 2015, 6:23 AM | 19 Comments
  • Dec. 21, 2015, 7:15 PM
    • Continental Resources (NYSE:CLR) Chairman and CEO Harold Hamm tells CNBC that the crude oil market will recover in 2016 as supply and demand come into balance.
    • "We've seen tremendous growth in the market for our supply. It's up about 3% on an annual basis, so it's quickly correcting," Hamm says, adding that the U.S. industry does not necessarily need oil prices to return to $100/bbl because of efficiency gains in the U.S. oil patch.
    • Allowing producers to export U.S. crude will help the product find a market in countries with refineries capable of processing it, Hamm says, noting that foreign acquisition of U.S. refineries has reduced capacity for American oil.
    • Lukoil (OTC:LUKOF, OTCPK:LUKOY) CEO Vagit Alekperov agrees, saying "the current purchases taking place in the industry do not incentivize the development of new exploration projects... as a result, [the oil] price will be climbing back, but that will happen during the mid-term" of 2016.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 21, 2015, 7:15 PM | 52 Comments
  • Dec. 21, 2015, 3:28 PM
    • U.S. crude oil fell below $34/bbl for the first time since 2009 before settling with a $0.25 loss at $35.81, but January natural gas jumped $0.14 (+7.9%) to $1.19/MMBtu for the largest gains in nearly two months as signs of cold and stronger heating demand creep into forecasts.
    • Gas had been down 25% in December but snapped back as Monday morning weather updates begin to show temperatures closer to normal in the eastern U.S. and below normal in the Rockies to end the month after weeks of unseasonably warm weather nearly canceled the beginning of heating season.
    • “You don’t want to be the guy that’s left holding the bag,” says one Nymex trader on today's sudden turnaround in nat gas.
    • ETFs: UNG, USO, OIL, UGAZ, UCO, DGAZ, UWTI, SCO, BNO, BOIL, GAZ, DBO, DWTI, DTO, KOLD, USL, UNL, DNO, DBE, OLO, SZO, DCNG, RJN, OLEM, JJE, ONG, UBN
    | Dec. 21, 2015, 3:28 PM | 29 Comments
  • Dec. 21, 2015, 2:01 AM
    • Brent crude is shattering records, losing a fifth of its value in the last month and a third since early October. The benchmark has now hit levels not seen since 2004, skidding 2% to as low as $36.06 per barrel, as oversupply concerns and a strong dollar continue to weigh on the market.
    • With a ban on U.S. crude exports lifted and new supplies looming from Iran, West Texas Intermediate crude is down 1% at $34.40/bbl, its lowest since February 2009.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 21, 2015, 2:01 AM | 51 Comments
  • Dec. 18, 2015, 5:58 PM
    • Crude oil prices are "definitely in a lower-for-longer environment" but will still nearly double from current levels by late 2016 as supply growth slows and demand rises, Hess (NYSE:HES) CEO John Hess tells CNBC.
    • "All of a sudden the market is going to draw on inventories, and you're probably going to be looking at least at $60 by the end of next year," the CEO says.
    • Hess sees the lifting of the 40-year U.S. ban on oil exports as the "bright spot" for the industry, saying the move will increase energy investment in the U.S. - "Instead of investing in other countries you're going to have more of an incentive to put the dollars here."
    • Earlier: Crude oil may have to hit $20 to force U.S. production cuts, Goldman says
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 18, 2015, 5:58 PM | 72 Comments
  • Dec. 18, 2015, 1:30 PM
    • The U.S. oil rig count jumped by 17 to 541, the first increase in five weeks for Baker Hughes' weekly survey.
    • The total active U.S. rig count, which includes natural gas rigs, was unchanged at 709, as natural gas rigs fell by 17 to 168.
    • Compared with last year, the total rig count has fallen by 1,166, with the oil-rig count down 995.
    • The total rig count is down 62% from last year's 1,875, with oil rigs down 65% from 1,536 a year ago.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 18, 2015, 1:30 PM | 49 Comments
  • Dec. 18, 2015, 4:59 AM
    • Oil is on track to post its third weekly loss, with U.S. crude down 2.2% and Brent off by 2%.
    • U.S. inventory builds, a global glut and a Fed rate hike are still the usual story, but two new factors could crank up more pressure.
    • The IEA predicted today that oil markets will remain oversupplied at least until the end of 2016 - due to sluggish demand and OPEC's failure to curb production - and the U.S. looks likely to lift its four-decade-old crude export ban in another few hours.
    • Crude futures -1.3% at $34.48/bbl.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 18, 2015, 4:59 AM | 24 Comments
  • Dec. 17, 2015, 6:15 PM
    • Crude oil prices tumbled below $35/bbl again today, weighed by data showing an unexpected climb in U.S. crude supplies and strength in the dollar following the Fed’s decision to raise rates, but Goldman Sachs warns that prices have not fallen far enough to force the oil production cuts needed to balance the market.
    • The U.S. rig count and domestic oil company spending plans are still too high to ease the global oil glut and lift prices by the end of next year, and storage continues to fill with the odds of hitting storage constraints by the spring rising, meaning crude prices may have to plunge to $20/bbl to force needed production cuts, Goldman says.
    • The larger crude producers have forecast stable output - not declines - for next year, and most of them do not need to worry about banks reducing their credit lines, creating the risk that "if investor capital is available to accommodate producers’ funding needs, the slowdown in U.S. production will take place too late or not at all," according to Goldman.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, DIG, DTO, DUG, BGR, USL, IYE, IEO, DNO, FENY, PXE, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Dec. 17, 2015, 6:15 PM | 103 Comments
  • Dec. 17, 2015, 5:57 PM
    • Royal Dutch Shell (RDS.A, RDS.B) is calling for tougher regulation of the Middle East's most important oil pricing mechanism that has resulted in pushing the region's prices up relative to other grades, Financial Times reports.
    • Manipulation of physical crude prices in other regions was "under the jurisdiction of a regulator with powers to review and take any necessary action against wrongdoers," while the Dubai market falls under no such regulatory body, FT quotes a top Shell trading exec as saying.
    • The volumes bought and sold by Chinese groups were so high that pricing agency Platts said in August it was considering whether to allow more crude into a pool of supplies it uses to assess its Dubai daily crude price benchmark.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 17, 2015, 5:57 PM | 10 Comments
  • Dec. 16, 2015, 10:31 AM
    | Dec. 16, 2015, 10:31 AM | 67 Comments
  • Dec. 16, 2015, 2:13 AM
    | Dec. 16, 2015, 2:13 AM | 131 Comments
  • Dec. 15, 2015, 4:53 PM
    • U.S. oil supplies rose 2.3M barrels in the week ended Dec. 11, according to the API. Trade had expected a decline of 2.5M barrels. EIA data is due tomorrow.
    • WTI crude oil has dropped about $0.40 since the news hit, now at $36.77 per barrel. USO -0.8% after hours following a 2.15% gain in the regular session.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Dec. 15, 2015, 4:53 PM | 39 Comments
  • Dec. 14, 2015, 7:25 PM
    • The deep discount for benchmark U.S. crude oil prices vs. global rates looks poised to disappear for the first time since the rise of the shale oil boom, Reuters reports.
    • U.S. WTI crude for delivery in March traded at one point today just $0.20/bbl below global Brent crude for the same month, the narrowest gap since 2010.
    • The sudden shift in the closely-watched spread seems to be sending a signal that the domestic oil market is likely to grow tighter while the global glut gets worse, which likely will spur a renewed rise in U.S. imports and erase the cost advantage of U.S. refiners who have made billions of dollars on cut-price domestic crude.
    • Some oil traders say the spread is responding to signs that the U.S. Congress may throw out the 40-year old ban on exporting U.S. crude, while others cite expectations of higher OPEC production following an easing of western sanctions against Iran that is weighing on Brent.
    • Refiners: PSX, VLO, TSO, MPC, HFC, PBF, WNR, NTI, ALJ, CLMT
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 14, 2015, 7:25 PM | 62 Comments
  • Dec. 14, 2015, 5:07 AM
    • U.S. natural gas prices have collapsed to their lowest level in almost 14 years, dropping 4.4% to $1.901 per million British thermal units, as unseasonally warm weather on the U.S east coast cuts demand for the fuel.
    • NYC is expected to see temperatures as high as 63 degrees on Monday, at a time of year when fleece-lined boots are more common attire than t-shirts.
    • Crude prices also started the week on the back foot. The cost per barrel has now fallen below $35.
    • Crude futures -2.3% to $34.79/bbl.
    • ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, MLPG, DCNG, USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 14, 2015, 5:07 AM | 23 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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