DB Crude Oil Long ETN
 (OLO)

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  • Oct. 28, 2015, 2:12 PM
    • Up nicely for the day already, oil has spiked higher over the last couple of hours, now ahead $2.73 per barrel, or 6.3% to $45.93.
    • Crude had been tracking down in nearly a straight line for the last 10-12 sessions, so somewhat bearish but essentially inline inventory data last night from the API and this morning from the EIA may have been enough to send the shorts scrambling to cover.
    • USO +5.1%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Oct. 28, 2015, 2:12 PM | 61 Comments
  • Oct. 28, 2015, 10:32 AM
    | Oct. 28, 2015, 10:32 AM | 72 Comments
  • Oct. 27, 2015, 4:58 PM
    • The American Petroleum Institute is reportedly saying oil stocks rose 4.1M barrels for the week ended Oct. 23. This compares to a 7.1M barrel increase last week and expectations tomorrow for the EIA to report a 3.7M barrel gain.
    • Oil is modestly higher since the news, up $0.13 per barrel to $43.41.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Oct. 27, 2015, 4:58 PM | 22 Comments
  • Oct. 26, 2015, 2:18 PM
    • Natural gas futures are down ~8% as supplies rise toward record levels amid expectations of a warm start to the winter, sending shares of energy companies with heavy exposure to natural gas sharply lower; CHK -8.7%, SM -7.7%, RRC -7.4%.
    • Adding to the volatility is the expiration of the November futures contract Wednesday, which recently was trading at $2.06/MMBtu, a level last seen in 2012.
    • "This could be a blow off bottom," says Again Capital's John Kilduff, who says the price is hit by expectations that a record amount of natural gas will soon be in storage; weekly data show gas storage at 3.81T cf vs. a record 3.93T cf in November 2012.
    • Weather forecasts released last night called for “significant warm trends” across much of the U.S. in the next two weeks, according to MDA Weather Services.
    • Crude oil prices also are lower, as lingering concerns over a global supply glut and weakening demand send prices toward their lowest settlement in six weeks.; WTI -1.5% at $43.95/bbl, Brent -0.8% at $47.61.
    • ETFs: UNG, USO, OIL, XLE, UGAZ, UCO, DGAZ, UWTI, VDE, ERX, OIH, SCO, BNO, BOIL, GAZ, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, KOLD, BGR, USL, IYE, UNL, DNO, FENY, FIF, PXJ, OLO, SZO, RYE, DCNG, FXN, OLEM, DDG
    | Oct. 26, 2015, 2:18 PM | 44 Comments
  • Oct. 23, 2015, 2:01 PM
    • The number of rigs exploring for oil in the U.S. fell for the eighth straight week, although the count declined by just one to 594, according to Baker Hughes' latest survey.
    • There are now ~63% fewer oil rigs from a peak of 1,609 last October.
    • The overall rig count was unchanged at 787, with the natural gas rig count rising by one to 193.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Oct. 23, 2015, 2:01 PM | 21 Comments
  • Oct. 23, 2015, 9:37 AM
    | Oct. 23, 2015, 9:37 AM | 27 Comments
  • Oct. 23, 2015, 7:42 AM
    | Oct. 23, 2015, 7:42 AM | 14 Comments
  • Oct. 22, 2015, 10:41 AM
    • Continued demand growth and falling production should help to end the protracted slump in energy prices in 2016, Hess (HES +1.8%) CEO John Hess tells CNBC.
    • "The seeds have been planted for a slow recovery in oil prices," the CEO says. "It takes about two years for the market to rebalance, and we're in the first year of that two-year period."
    • Hess says global E&P investment has fallen to $550B this year from $700B a year ago, and investment will sink even more in 2016 as U.S. crude prices again having slipped to ~$45/bbl, which ultimately will drag down production.
    • Yet demand remains "fairly robust," Hess says, rising ~1.8M bbl/day this year and likely to gain 1.2M bbl/day in 2016, even allowing for a slowdown in some countries and the return of Iranian oil to the global market, meaning "there will be room for Iran, and the markets should recover."
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Oct. 22, 2015, 10:41 AM | 24 Comments
  • Oct. 21, 2015, 10:31 AM
    | Oct. 21, 2015, 10:31 AM | 72 Comments
  • Oct. 20, 2015, 4:50 PM
    • U.S. crude oil stocks rose 7.05M barrels last week, down from 9.3M the previous week, but higher than the expected 3.5M barrel gain.
    • WTI crude is lower by 0.5% since the news hit, now selling for $45.91 per barrel. USO -0.4% after hours.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Oct. 20, 2015, 4:50 PM | 23 Comments
  • Oct. 19, 2015, 2:52 PM
    • WTI crude oil is more-or-less back where it started the month after today's 3% decline brings the price to $46.29 per barrel. The price of black gold had bubbled up to more than $51 per barrel just a few sessions ago, prompting calls that a bottom was in, along with prescient advice from Goldman to sell the rip.
    • Today's dip comes as Iran urges OPEC to slash output (bullish?), and China beat estimates for Q3 GDP (bullish?), but still grew at the slowest pace since 2009 (bearish?).
    • USO -2.6%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Oct. 19, 2015, 2:52 PM | 46 Comments
  • Oct. 19, 2015, 6:23 AM
    • Iran Oil Minister Bijan Namdar Zanganeh has declared that OPEC member states should cut crude output to boost prices to a range of $70-$80 a barrel.
    • "No one is happy" with prices at current levels, Zanganeh told reporters in Tehran.
    • Iran will be able to boost oil exports by 500K barrels a day within one week following the removal of sanctions, and could raise exports by 1M bpd within six months after the curbs are lifted.
    • Crude futures -1.1% to $47.18/bbl.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Oct. 19, 2015, 6:23 AM | 49 Comments
  • Oct. 16, 2015, 1:57 PM
    • The U.S. oil rig count falls for the seventh week in a row, as the latest Baker Hughes survey shows drillers removed 10 oil rigs in the week ended Oct. 16 to bring the total rig count down to 595, the fewest since July 2010.
    • The number of active oil rigs has fallen sharply from an October 2014 high of 1,609, as low prices have hit drilling budgets and forced producers to cut back.
    • Natural gas rigs rose by three to 192, sending the total rig count down by eight to 787, and is now 68% lower than the 1,918 rigs in service at this time last year.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Oct. 16, 2015, 1:57 PM | 98 Comments
  • Oct. 15, 2015, 11:00 AM
    | Oct. 15, 2015, 11:00 AM | 38 Comments
  • Oct. 14, 2015, 4:49 PM
    • Oil supplies jumped by 9.3M barrels in the week ended Oct. 9, according to the API, far above the expected 1.8M barrel gain. The EIA's take on the matter is due tomorrow morning.
    • Roughly flat for the day prior to the API report, crude is now lower by 1% to $46.13 per barrel.
    • USO -0.9% after hours
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Oct. 14, 2015, 4:49 PM | 30 Comments
  • Oct. 13, 2015, 4:31 AM
    • After erasing last week's big gains through yesterday's 5.3% drop, oil prices now have even less to look forward to: the Iran nuclear deal.
    • Tehran's parliament passed a bill this morning supporting the nuclear accord reached with six world powers, removing a major obstacle to putting the agreement into practice.
    • Should sanctions be lifted, Iran would double its oil exports to 2.3M barrels a day, multiplying tensions in the world's sensitive oil markets.
    • Crude futures -0.1% to $47.06/bbl.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Oct. 13, 2015, 4:31 AM | 48 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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