iPath S&P Crude Oil Total Return Index ETN (OIL) - NYSEARCA
  • Mon, Jun. 20, 3:58 PM
    • Analysts at Raymond James offer perhaps the most optimistic outlook anywhere for crude oil prices, predicting WTI will average $80/bbl by the end of next year on growing confidence that tightening global oil supply/demand dynamics will support a much higher price level.
    • James sees production outside the U.S. being curbed by more than previously expected, or 400K fewer bbl/day of oil being produced in 2017 relative to its January estimate, particularly organic declines in China, Columbia, Angola and Mexico.
    • Among other reasons, the firm also notes that the unusually large number of unplanned supply outages will, in some cases, persist throughout 2017, taking another 300K bbl/day out of global supply.
    • Using his firm's broader oil outlook, James analyst Pavel Molchanov upgrades Murphy Oil (MUR +6%) to Market Perform from Underperform, adding that he believes MUR's dividend is safe.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Mon, Jun. 20, 3:58 PM | 16 Comments
  • Fri, Jun. 17, 4:12 PM
    | Fri, Jun. 17, 4:12 PM
  • Fri, Jun. 17, 2:12 PM
    | Fri, Jun. 17, 2:12 PM | 44 Comments
  • Thu, Jun. 16, 2:57 PM
    | Thu, Jun. 16, 2:57 PM | 34 Comments
  • Wed, Jun. 15, 10:31 AM
    | Wed, Jun. 15, 10:31 AM | 68 Comments
  • Wed, Jun. 15, 9:48 AM
    • The U.S. rig count has risen for two straight weeks, says the bank's Waqar Syed, the first "meaningful increase" since last August. The international rig count also rose for the first time since September, bucking the usual trend of a 2-3 month lag between inflection points for U.S./International rig counts, says Syed.
    • While the rig count may have bottomed, says Syed, a sharp rebound is unlikely as U.S. explorers and producers wait for signs of a stabilization in prices around current levels.
    • Black gold today is lower by 1.4% to $47.81 per barrel. USO -1.7%
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, OILX
    | Wed, Jun. 15, 9:48 AM | 11 Comments
  • Tue, Jun. 14, 4:53 AM
    • Global oil markets are moving close to balance in the second half of this year on significantly stronger oil demand and unexpected supply disruptions, the IEA said in its closely watched monthly report.
    • The oversupply in the first half of this year is likely to stand around 800K barrels a day, down from the 1.5M barrels initially anticipated, according to the agency, which cautioned that an "enormous inventory overhang" will still keep a cap on further price increases.
    • Crude futures -1.6% to $48.11/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Tue, Jun. 14, 4:53 AM | 16 Comments
  • Mon, Jun. 13, 6:16 AM
    • Oil futures are down 1.1% to $48.52/bbl after dropping 4.2% the previous two sessions as drilling rigs targeting crude in the U.S. rose by three to 328 last week, marking a second weekly gain that's the longest since August.
    • The data from Baker Hughes suggests companies may be able to revive output at current prices.
    • Iran is also seeking to boost output by 600K-700K bpd over five years from fields west of the Karoun River along the Iraqi border.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Mon, Jun. 13, 6:16 AM | 1 Comment
  • Fri, Jun. 10, 2:12 PM
    • The U.S. oil rig count posted its second weekly increase in a row, rising by 3 to 328 following last week's spike of 9 rigs, Baker Hughes reports in its latest survey.
    • The overall U.S. rig count, which includes a gain of 3 gas drilling rigs to 85, rose by 6 to 414 following last week's increase of 4.
    • Oil drillers had 635 rigs online at this time last year, after hitting a peak of 1,609 in October 2014.
    • "Barring another commodity price collapse, we do believe the bottom is in for the rig count," Cowen analysts say." We expect rig counts to remain choppy for the remainder of the summer with potential increases later in the third quarter to early fourth quarter."
    • ETFs: USO, UNG, OIL, UWTI, UGAZ, UCO, DGAZ, DWTI, SCO, BNO, BOIL, DBO, GAZ, DTO, USL, KOLD, UNL, DNO, OLO, SZO, DCNG, OLEM, OILX
    | Fri, Jun. 10, 2:12 PM | 74 Comments
  • Fri, Jun. 10, 5:00 AM
    • Oil prices have retreated to below $50 a barrel as a stronger dollar pulls crude off the 2016 highs hit this week despite a major attack by the Niger Delta Avengers.
    • Militants blew up an Eni (NYSE:E) pipeline in Nigeria run by the company's Agip subsidiary, marking yet another strike aimed at the country's oil infrastructure.
    • NNPC said Nigerian output stood at around 1.8M bpd in March, its weakest level in a year, and that figure is now likely significantly lower.
    • Oil futures -1.5% to $49.81/bbl
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Fri, Jun. 10, 5:00 AM | 40 Comments
  • Wed, Jun. 8, 12:37 PM
    • Oil gained market share in the world’s fuel mix last year for the first time since 1999, and global coal consumption fell by the most on record last year, according to BP’s (BP +0.8%) annual review of energy trends.
    • Global oil production grew 3.2% last year and consumption grew 1.9%, while coal use fell 1.8% and now accounts for 29.2% of consumption, the lowest since 2005, while oil’s share rose for the first time since 1999.
    • Overall global energy consumption rose by 1% in 2015 from a year earlier, a slower pace than the 10-year average of 1.9%.
    • Oil markets will start to balance in H2 of this year, but the world will have to work through all the stockpiled crude that has built up, which will keep the run-up in prices in check, according to BP chief economist Spencer Dale.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Wed, Jun. 8, 12:37 PM
  • Wed, Jun. 8, 10:31 AM
    | Wed, Jun. 8, 10:31 AM | 45 Comments
  • Wed, Jun. 8, 6:37 AM
    • Both Brent and WTI are holding strong above $50 per barrel, helped by industry data showing a larger-than-expected drawdown in U.S. crude inventories, worries about attacks on the Nigerian oil industry and strong Chinese demand.
    • According to data from the API on Tuesday, oil stockpiles fell by 3.6M barrels last week.
    • Energy Information Administration figures will be released this afternoon.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Wed, Jun. 8, 6:37 AM | 2 Comments
  • Tue, Jun. 7, 3:39 PM
    • Quickly responding to the near-doubling in oil prices over the past few months, producers are putting oil rigs back to work, says Bjarne Schieldrop, chief commodities analyst at Sweden's SEB Bank.
    • The rig count rose by nine last week to 325, rebounding from its lowest level since October 2009.
    • Looking 15 months out on the WTI crude curve gives a good level of prices to check for determining the viability of a new shale well, he says, and it's been above $45 for eight weeks. Last year, a rise in WTI crude to $60 was enough  to accelerate an increase in rigs. With better technology cutting costs, Schieldrop figures a rebound to $54 would be enough.
    • Crude is higher by 1.6% today to $50.48 per barrel.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, OILX
    | Tue, Jun. 7, 3:39 PM | 98 Comments
  • Mon, Jun. 6, 11:18 AM
    • Crude oil prices push more than 2% higher, with Brent at $50.68/bbl and WTI at $49.75, thanks to a falling dollar, continued attacks on oil infrastructure in Nigeria, and reports of a pipeline failure and spill at Exxon Mobil's (XOM +1.2%) Torrance refinery near Los Angeles.
    • However, XOM has since told CNBC that the refinery had experienced a refining byproduct leak in an internal pipe that was contained in the Torrance property, and there is no impact to operations.
    • An incident at Torrance normally would not cause a significant jump in oil prices, but analysts say the current market is sensitive to any perception of a supply disruption.
    • Crude futures also are supported after Genscape reported a draw of more than 1M barrels at the Cushing, Okla., delivery point for the WTI contract.
    • ETFs: USO, UNG, OIL, XLE, UWTI, UGAZ, UCO, DGAZ, VDE, ERX, DWTI, OIH, SCO, XOP, BNO, BOIL, DBO, GAZ, FCG, ERY, GASL, DIG, DTO, USL, DUG, BGR, XES, KOLD, IYE, IEO, UNL, FENY, IEZ, DNO, PXE, GASX, FIF, OLO, PXJ, RYE, SZO, NDP, GUSH, DCNG, DRIP, FXN, DDG, OLEM
    | Mon, Jun. 6, 11:18 AM | 17 Comments
  • Fri, Jun. 3, 4:16 PM
    | Fri, Jun. 3, 4:16 PM | 1 Comment
OIL Description
The iPath® S&P GSCI® Crude Oil Total Return Index ETN is a sub-index of the S&P GSCI® Commodity Index. The S&P GSCI® Crude Oil Total Return Index reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract plus the Treasury Bill rate of interest that could be earned on funds committed to the trading of the underlying contracts.
See more details on sponsor's website
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub