DB Crude Oil Long ETN (OLO) - NYSEARCA
  • Thu, Jun. 2, 8:57 AM
    | Thu, Jun. 2, 8:57 AM | 16 Comments
  • Thu, Jun. 2, 5:30 AM
    • OPEC is set for another showdown during today's producer summit in Vienna, with reports of an output agreement being shot down by Iran as Saudi Arabia tries to revive coordinated action.
    • Member countries failed to reach a consensus at their April gathering, but world crude production fell nonetheless, due to outages in Nigeria, Libya, Venezuela and Canada.
    • Capped by those disruptions, along with rising output by OPEC's Middle East producers, the group's overall production has remained largely flat this year, currently standing at 32.5M bpd.
    • Crude futures +0.3% to $49.15/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILX
    | Thu, Jun. 2, 5:30 AM | 4 Comments
  • Wed, Jun. 1, 1:57 PM
    • Crude oil futures, down more than 2% earlier, are now just -0.5% at slightly below $49/share after WSJ reports Saudi Arabia is considering an OPEC production cap.
    • OPEC members are reviving the idea of a ceiling on production, backed by Saudi Arabia, during closed-door talks ahead of the group's official Thursday meeting, according to the report.
    • Members are said to remain deeply divided about what kinds of limits, if any, should be agreed upon, and the talks could fall apart; all OPEC decisions must be unanimous.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Wed, Jun. 1, 1:57 PM | 3 Comments
  • Mon, May 30, 5:10 AM
    • Iraq will supply 5M barrels of extra crude to its partners in June, according to industry sources, joining other Middle East producers by lifting market share ahead of an OPEC meeting this week.
    • Saudi Arabia, Kuwait, Iran and the United Arab Emirates also plan to raise supplies in the third quarter.
    • Despite the news, OPEC will continue to "discuss issues including an output freeze when the group gathers June 2," said Fayyad Al-Nima, Iraq's Deputy Oil Minister.
    • Crude futures -0.5% to $49.11/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Mon, May 30, 5:10 AM | 29 Comments
  • Fri, May 27, 1:58 PM
    | Fri, May 27, 1:58 PM | 33 Comments
  • Fri, May 27, 5:08 AM
    • Crude oil prices are back below $50 in early trading on a round of profit taking by investors and with the U.S. dollar perking up.
    • Traders are also positioning themselves ahead of the next OPEC meeting scheduled for around the corner on June 2. Energy market watchers are unsure if key OPEC members will agree on a production cap or increase output.
    • WTI crude is down 0.65% to $49.16/bbl, while Brent crude trading in London is 0.89% lower at $49.15/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Fri, May 27, 5:08 AM | 3 Comments
  • Thu, May 26, 5:42 PM
    • Longstanding U.S. banking limitations are slowing Iran's oil resurgence by forcing energy companies to use small lenders or barter to get their deals done, even after the lifting of international sanctions, WSJ reports.
    • U.S. banking restrictions remain over Iran’s testing of ballistic missiles and alleged support for terrorism; the restrictions, which date back to the 1990s, have outlived the international sanctions related to Iran’s nuclear program, which were lifted in January.
    • Total (NYSE:TOT) had to arrange payments through three smaller European banks - which do little business in the U.S. and thus are less likely to violate U.S. restrictions - to ship the first exports of Iranian crude to Europe in years, while BP and Royal Dutch Shell (RDS.A, RDS.B) have yet to buy Iranian oil because their banks refuse to deal with the country.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Thu, May 26, 5:42 PM | 21 Comments
  • Wed, May 25, 10:59 AM
    | Wed, May 25, 10:59 AM | 21 Comments
  • Wed, May 25, 10:31 AM
    | Wed, May 25, 10:31 AM | 13 Comments
  • Wed, May 25, 7:34 AM
    | Wed, May 25, 7:34 AM | 19 Comments
  • Tue, May 24, 3:38 PM
    • U.S. crude oil prices rose to a new 2016 high in today's trade on expectations that continued supply disruptions would help reduce the oversupply of crude.
    • July WTI crude added 1.1% to settle at $48.62/bbl, while Brent crude trading in London closed at a nearly identical $48.61/bbl.
    • Citigroup analysts said today that the worst is over for the oil market, as a slowdown in production is setting prices up for a steeper rebound than predicted at the beginning of the year; Citi sees Brent reaching $50/bbl in Q3 “if not earlier,” before climbing to ~$65 by the end of 2017, and forecasts WTI will hit $50 by year-end 2016 and $61 by the close of next year.
    • “In Nigeria, Venezuela, Libya and a host of other countries, the threat of disruptions seems to be increasing and not decreasing,” Citi says. “Prices look likely to march forward to the mid-$60 range.”
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Tue, May 24, 3:38 PM | 26 Comments
  • Mon, May 23, 5:33 AM
    • Oil prices are slipping again, hit by a strong dollar and signs that global crude supply is holding up even as unplanned outages rise to at least a five-year high.
    • Iran's Deputy Oil Minister was also quoted on Sunday saying the Islamic Republic has no plans to join any output freeze since it's still ramping up exports to pre-sanctions levels.
    • According to Rokneddin Javadi, Tehran's shipments probably won't surpass 2.2M barrels per day until midsummer.
    • Crude futures -1% to $47.93/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Mon, May 23, 5:33 AM | 9 Comments
  • Fri, May 20, 2:12 PM
    • The number of active U.S. oil drilling rigs was unchanged after falling for the past eight consecutive weeks, according to Baker Hughes' latest weekly survey.
    • The oil rig count remains flat at 318, while the overall total U.S. rig count fell by 2 to 404; gas-directed rigs dropped 2 units to 85.
    • The oil rig count is down 1,291 units since its peak on Oct. 10, 2014, and at its lowest level since Oct. 23, 2009.
    • ETFs: USO, UNG, OIL, UWTI, UGAZ, UCO, DGAZ, DWTI, SCO, BNO, BOIL, DBO, GAZ, DTO, USL, KOLD, UNL, DNO, OLO, SZO, DCNG, OLEM
    | Fri, May 20, 2:12 PM | 62 Comments
  • Wed, May 18, 10:33 AM
    | Wed, May 18, 10:33 AM | 66 Comments
  • Tue, May 17, 6:21 AM
    • Along with Goldman Sach's recent oil forecast, Nigerian supply outages and the Alberta wildfire sent crude to a seven-month high overnight, but prices have now pulled back to under $48 per barrel.
    • Nigeria's oil production has been cut by almost 40%, as the Niger Delta Avengers carry out a growing number of attacks in the region.
    • Canada's oil sands are also under threat following the evacuation of 8,000 workers from facilities near Fort McMurray.
    • Crude futures +0.3% to $47.85/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Tue, May 17, 6:21 AM | 15 Comments
  • Mon, May 16, 3:43 AM
    • Crude prices are trading higher on the back of a rare bullish call from Goldman Sachs, which until now had been a long-time bear on oil and even warned of another price crash due to overflowing storage.
    • The investment bank says the market has moved from a state of oversupply to a deficit, and believes major supply disruptions in markets such as Nigeria, Venezuela and China will sharply lower production levels.
    • Crude futures +1.9% to $47.09/bbl.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Mon, May 16, 3:43 AM | 46 Comments
OLO Description
The DB Crude Oil Long ETN tracks the performance of crude oil using futures contracts. It uses an optimized rolling strategy to minimize contango.
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