The United States Gasoline ETF, LP
 (UGA)

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  • Wed, Feb. 10, 11:40 AM
    • Black gold shot higher on an unexpected draw on U.S. inventories last week, but has turned and slipped back under $28 per barrel.
    • WTI crude is currently down 0.2% to $27.78
    • Also among the news to digest is a surprisingly upbeat Janet Yellen testifying before Congress - while acknowledging downside risks to the outlook, she continues to expect rate hikes this year.
    • Then there's BP CEO Bob Dudley who says the market won't start to balance until every tanker and swimming pool is filled to the brim with oil (sometime in H2, he says).
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Feb. 10, 11:40 AM | 38 Comments
  • Tue, Feb. 9, 3:30 PM
    | Tue, Feb. 9, 3:30 PM | 55 Comments
  • Tue, Feb. 9, 1:20 PM
    • The EIA lowered its forecast on oil prices in a new forecast.
    • The government agency expects WTI prices to average $37.59/bbl this year vs. $38.54/bbl prior forecast. The EIA sees Brent crude averaging $37.52/bbl in 2016 vs. $40.15 prior view.
    • U.S. retail gas prices are seen averaging $1.98/gallon this year and $2.21/gallon in 2017.
    • Oil futures are lower on the day.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM.
    | Tue, Feb. 9, 1:20 PM | 10 Comments
  • Thu, Feb. 4, 3:29 PM
    • In the president's final budget to be released next week, he's set to propose more than $300B worth of investments in various trendy climate-friendly transportation ideas, reports Politico. The heady number is to be paid for with a $10 per barrel "fee" on every barrel of oil.
    • It's likely DOA in a Republican-controlled Congress, but it's certain to be a conversation-starter, particularly in an election year. Adding up to $0.25 per gallon to the cost of gasoline? What say you Mr. or Ms. Presidential candidate?
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, BNO, DWTI, DBO, ERY, DIG, DTO, UGA, DUG, BGR, USL, IYE, DNO, FENY, PXJ, FIF, UHN, DBE, OLO, RYE, SZO, RJN, FXN, DDG, OLEM, JJE, ONG, UBN
    | Thu, Feb. 4, 3:29 PM | 210 Comments
  • 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 | 110 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 | 41 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
  • 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
  • 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
  • Mon, Jan. 11, 7:47 AM
    • It's nearly impossible to forecast the direction of one asset, but Morgan Stanley's Adam Longson is going for two, predicting Brent oil could fall to $20 per barrel alongside further gains in the dollar.
    • A global glut may have been responsible for the initial crash in crude oil below $60 per barrel, he says, but the drop into the mid-$30s has been about the rising greenback.
    • “Oil in the $20s is possible, but not for the reasons often cited,” says Longson. “It’s not about deteriorating fundamentals.”
    • WTI crude is down 1.5% this morning to $32.67.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Mon, Jan. 11, 7:47 AM | 34 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
UGA Description
The United States Gasoline Fund LP (UGA) is an exchange traded security that is designed to track in percentage terms the movements of gasoline prices.
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