DB Crude Oil Long ETN
 (OLO)

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  • Dec. 29, 2015, 5:51 PM
    • The API estimates U.S. crude inventories rose by 2.9M barrels last week, after having fallen by 3.6M the prior week. The figure has led oil prices to pare their Tuesday gains: WTI crude is now up 1.4% to $37.33/barrel, and Brent crude up 2.1% to $37.37/barrel.
    • The API's report comes ahead of Wednesday morning's anticipated EIA weekly inventory report. The EIA has been expected to report a 1M-barrel inventory decline.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    • Yesterday: Energy stocks sell off as oil falls below $37/barrel
    | Dec. 29, 2015, 5:51 PM | 37 Comments
  • Dec. 29, 2015, 9:27 AM
    • Oil prices are in rebound mode with West Texas Intermediate moving higher than Brent on the prospect of the first shipment of crude being exported from the Gulf Coast in January.
    • Swiss oil trader Vitol is expected to be the first customer for the cargo.
    • Meanwhile, the API releases its weekly U.S. stock forecast today and the Energy Department issues its official figures tomorrow.
    • Brent is up 1.9% at $37.31 a barrel (still close to 11-year lows), while WTI is 1.7% higher at $37.42/bbl.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 29, 2015, 9:27 AM | 24 Comments
  • Dec. 28, 2015, 4:07 AM
    • How's oil beginning another holiday-shortened week? Brent and U.S. crude switched between premium and discount to each other several times in post-Christmas trading - in a market plagued by oversupply.
    • However, traders aren't interpreting the movements too much, as low liquidity means that prices could move abruptly without changes in price fundamentals.
    • It's also likely to be a quiet next few days for the energy sector, except for the U.S. inventory reports which will be published on Wednesday and Thursday.
    • Brent -1.4% to $37.37; WTI -1.8% to $37.43.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 28, 2015, 4:07 AM | 7 Comments
  • Dec. 23, 2015, 6:39 PM
    • WTI crude oil futures on the Nymex closed Tuesday at a premium to the global Brent benchmark in London trading for the first time since August 2010, and the spread further widened in WTI’s favor today, with the Nymex contract rising 3.8% at $37.50/bbl while Brent gained 3.5% to $37.36.
    • Analysts point to three main reasons why WTI is now trading at a premium to Brent and might continue to do so in the months ahead: the lifting of the 40-year ban on U.S. crude exports, North Sea production has ticked higher while U.S. shale production has declined (albeit at a slower pace than expected given the collapse in oil prices), and the attention of bearish traders may now be more focused on Brent.
    • These factors may prove fleeting, with ample skepticism over how much foreign demand exists for U.S. oil given the global supply glut, and as declining North Sea field production and a return to normal maintenance is expected to curb volumes and bring production back down.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 23, 2015, 6:39 PM | 10 Comments
  • Dec. 23, 2015, 2:30 PM
    | Dec. 23, 2015, 2:30 PM | 17 Comments
  • Dec. 23, 2015, 10:31 AM
    | Dec. 23, 2015, 10:31 AM | 86 Comments
  • Dec. 23, 2015, 6:33 AM
    • OPEC has published its closely watched annual World Oil Outlook, which anticipates the price of its basket of crudes to rise to $70 a barrel in 2020 and $95/bbl in 2040.
    • "The impact of the recent oil price decline on demand is most visible in the short term," OPEC Secretary-General Abdullah al-Badri wrote in the foreword to the report. "It then drops away over the medium term."
    • The forecast also underlined demand expectations for OPEC crude to reach 30.7M barrels per day in 2020 (that's 1.7M barrels more than projected a year ago, and 1M less than the group pumped in November).
    • Previously: WTI, Brent crude reach parity (Dec. 23 2015)
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 23, 2015, 6:33 AM | 46 Comments
  • 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
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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