DB Crude Oil Long ETN
 (OLO)

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  • Wed, Feb. 3, 2:36 PM
    • Renewed chatter of talks between Russia and Saudi Arabia on production cuts seems as good of an excuse as any for oil's 7.3% gain today to $32.08 per barrel. USO +8.4%
    • The move comes despite the EIA reporting a big 7.8M barrel build in crude stocks.
    • Oil's moonshot has brought the XLE with it, and, in turn, the major averages. Down 1% earlier, the S&P 500 is higher by 0.1%, with the XLE up a full 2.2%.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Feb. 3, 2:36 PM | 109 Comments
  • Tue, Feb. 2, 9:58 AM
    • A big bounce in the price of crude oil at the end of January - which took the price of Texas Tea to nearly $35 per barrel from about $27 - is officially over. With today's 5% decline to back under $30, crude is lower by almost 12% in the first one day-plus in February.
    • Shocking no one, the XLE's 3.2% slump is leading the S&P 500's early 1.4% drop.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Feb. 2, 9:58 AM | 31 Comments
  • Mon, Feb. 1, 2:15 PM
    | Mon, Feb. 1, 2:15 PM | 23 Comments
  • Thu, Jan. 28, 10:41 AM
    • Oil and stocks got a big early lift on renewed rumors of cooperation between Russia and OPEC on production cuts.
    • Four OPEC delegates, however, say they've heard nothing about any plans for talks, reports Bloomberg, which notes significant obstacles to an agreement - including Saudi Arabia's desire to hold onto market share, and Russia's inability to cut production during the winter months. OPEC next meets in June.
    • Up nearly 8% earlier, oil has pared back to a 3.4% gain. USO +3.4%. The XLE has trimmed its advance, now up 1.75%, and the major averages have moved into the red. S&P 500 (SPY -0.1%), DJIA (DIA -0.2%), Nasdaq (QQQ -0.1%).
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Thu, Jan. 28, 10:41 AM | 113 Comments
  • Thu, Jan. 28, 9:21 AM
    • The chatter began earlier this week of some sort of looming agreement between Russia and OPEC for production cuts, and it's getting new life this morning.
    • WTi crude is now higher by 4.6% to $33.75 per barrel, and is dragging the XLE up 3.3%, and the major averages, with S&P 500 (NYSEARCA:SPY) and Dow (NYSEARCA:DIA) futures higher by nearly 1% after being about flat not long ago.
    • USO +7.2% premarket
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Thu, Jan. 28, 9:21 AM | 30 Comments
  • Tue, Jan. 26, 8:08 AM
    • Down near $29 at one point overnight, crude oil reversed to as high as almost $31 per barrel as Iraq Oil Minister Adel Abdul Mahdi suggested the world's two largest producers - Saudi Arabia and Russia - have gotten religion about curbing production. Of course, details were not to be found.
    • In the meantime, the head of Saudi Aramco says there's a greater glut than expected, but made no mention of any production cuts. Mulling the Iraq minister's statement, Bloomberg's Julian Lee notes there's been no indication the Saudi position - that any production cuts be part of a broader OPEC agreement - has changed, and Russian officials say output cuts wouldn't be effective.
    • OPEC and Russia appear to continue to be in agreement that the supply glut is due to U.S. production, and there's little they can do about that (except try to force U.S. producers out of business with low prices).
    • Oil's in the process of giving back those earlier gains, now up just $0.04 per barrel to $30.39.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Jan. 26, 8:08 AM | 49 Comments
  • Fri, Jan. 22, 2:57 PM
    • WTI crude oil at one point this week neared a $25 handle, but a big afternoon move yesterday combined with an 8.2% gain today leaves it at $31.95 per barrel, up about $1 from seven days ago. USO +7.3%
    • Oil started off 2016 at around $38 per barrel.
    • There's nothing like a loud warning from Moody's to ring a bell for at least a temporary bottom, and this morning the ratings agency put 175 oil and commodity producers under review for downgrade. Naturally in response, the energy sector's 4.2% gain is leading the S&P 500's 1.9% advance.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Fri, Jan. 22, 2:57 PM | 32 Comments
  • Thu, Jan. 21, 3:49 PM
    • Crude oil futures settled more than 4% higher on the back of perceived oversold conditions, despite a higher than expected inventory build; March WTI jumped 4.2% to settle at $29.53/bbl after trading as high as $30.25, while Brent surged 4.9% to $29.25.
    • Crude prices were supported by the inventory increase in this morning's EIA report, which was less than the API’s report released on Wednesday, says Phil Flynn, senior market analyst at Price Futures Group; also, reports of Libyan oil tanks on fire eased speculation that Libya would be exporting more oil soon.
    • Also supportive for prices, oil production in the lower 48 states edged lower for the first time in seven weeks, “which is at least ‘less bearish’ for the extremely oversupplied global oil market,” says Tyler Richey of The 7:00’s Report.
    • The energy sector is bouncing after hitting a multiyear low yesterday: XOM +1.4%, CVX +2.7%, RDS.A +3.8%, BP +3.7%, TOT +2.3%, STO +4.5%, COP +6.2%, MRO +12.2%, APC +10.3%, OXY +2.1%, EOG +6.4%, PXD +2.7%, APA +8.2%, HES +7%, KMI +15.5%, EPD +3.3%, ETP +6.8%.
    • ETFs: UNG, USO, OIL, XLE, UGAZ, UCO, DGAZ, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, BOIL, GAZ, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, KOLD, BGR, USL, XES, IYE, IEO, UNL, IEZ, DNO, FENY, PXE, PXI, FIF, PXJ, OLO, SZO, NDP, RYE, DCNG, FXN, OLEM, DDG
    | Thu, Jan. 21, 3:49 PM | 116 Comments
  • Wed, Jan. 20, 4:44 PM
    • The API reports a U.S. crude inventory build of 4.5M barrels last week - about double trade expectations.
    • The EIA estimate comes tomorrow.
    • Texas Tea is has dipped about another $0.40 since the news a few minutes ago, with the new front month contract now at $28.33 per barrel.
    • USO -1.2% after hours.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Jan. 20, 4:44 PM | 36 Comments
  • Wed, Jan. 20, 12:55 PM
    • WTI crude has broken out to new session lows, down 7.3% to $26.39 per barrel. That's the February contract. The lead contract is now March, and it's down 6.3% to $27.71. USO -5.8%
    • Alongside that, the energy sector (XLE -5.1%) is leading the S&P 500's 3.5% decline, and the major junk bond ETFs are lower by more than 2% even as the 10-year Treasury is down 11 basis points to 1.94%.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Jan. 20, 12:55 PM | 69 Comments
  • Thu, Jan. 14, 3:26 PM
    • Energy stocks are broadly higher as U.S. crude oil bounces off $30/bbl to end pit trading at $31.22, +2.6%; the SPDR Energy ETF (XLE +5.1%) soars 5%, with 36 of its 40 equity components trading higher, after closing yesterday at its lowest level since September 2010.
    • Exxon Mobil (XOM +5.5%) and Chevron (CVX +5.9%) are the Dow's top two gainers; and pipeline companies sport strong showings with Kinder Morgan (KMI +8.2%), Plains All American Pipeline (PAA +11.7%) and Williams Cos. (WMB +27.4%) among the biggest winners.
    • Among other major energy movers: ETE +22.6%, BP +7.6%, MRO +7.5%, OXY +7.1%, PBR +7%, COP +7%, RDS.A +6.7%, SE +6.1%, PSX +6.1%, ETP +6.1%, EPD +5.3%, APA +5%, E +4.6%, HES +4.1%, MPC +4.1%.
    • Amid overwhelmingly negative sentiment, a few analysts are venturing out to say the worst may be over or nearly so: Deutsche Bank’s Torsten Slok thinks "we now have the worst behind us in terms of the negative impact of falling oil prices on the economy," and Gluskin Sheff’s David Rosenberg argues that the oil selloff is getting “long in the tooth.”
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXI, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Thu, Jan. 14, 3:26 PM | 89 Comments
  • Tue, Jan. 12, 4:59 PM
    • U.S. oil inventories slid 3.7M barrels last week, but gasoline stocks rose 7M barrels and distillates by another 3.6M, according to the API.
    • WTI crude is at $30.56 per barrel. USO -1% after hours
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Jan. 12, 4:59 PM | 64 Comments
  • Wed, Jan. 6, 2:19 PM
    • WTI crude oil is trading with a $33 handle after today's 6% decline - this despite somewhat bullish oil inventory data (though product inventories declined).
    • Unsurprisingly, the energy sector (XLE -3.6%) has more than tripled the S&P 500's 1.1% slide.
    • Past declines in energy have hit the high yield sector, but HYG and JNK are about flat for the session. Still, spreads are widening as the 10-year Treasury yield falls six basis points to 2.18%.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Jan. 6, 2:19 PM | 79 Comments
  • Tue, Jan. 5, 4:57 PM
    • The 5.6M barrel decline in the week ended Jan. 1 stands against trade expectations for a fall of 2.75M barrels.
    • The EIA estimate is due to be released tomorrow.
    • Oil has climbed a few cents in evening action, now trading at $36.16 per barrel. USO +0.8% after hours
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Jan. 5, 4:57 PM | 33 Comments
  • Tue, Jan. 5, 3:01 PM
    • "It seems impossible that we can get a sustained rally in the price of oil," Jeff Gundlach tells Barron's. "Inventories are enormous. Demand is way below production.”
    • An OPEC report today says Saudi Arabia and other major producers are still pumping crude at near record rates.
    • An EIA report this week shows onshore U.S. oil production growing again after six months of declines.
    • And Ed Yardeni notes oil failed to respond positively to heightened tension between Saudi Arabia and Iran. When asset prices don't rally in response to bullish news, it's augers for a continued bear market.
    • WTI crude is currently at its low for the new year, off 2.4% on today's session at $35.88 per barrel.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Jan. 5, 3:01 PM | 25 Comments
  • Dec. 30, 2015, 10:39 AM
    | Dec. 30, 2015, 10:39 AM | 54 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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