The United States Gasoline ETF, LP (UGA) - NYSEARCA
  • Mon, May 9, 3:19 PM
    | Mon, May 9, 3:19 PM | 12 Comments
  • Mon, May 9, 10:57 AM
    • Threatening to take out $46 per barrel earlier in the session, WTI crude oil has reversed sharply over the past few hours, now lower by 1.5% to $43.99.
    • While the Alberta wildfires have knocked out about 1M barrels of production from Canada's oil sands, a shift in the wind apparently has them moving away from the main facilities north of Fort McMurray.
    • Also, there's Genscape predicting a 1.4M barrel inventory build this week, which would be significantly above market expectations.
    • USO -1.45%
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    | Mon, May 9, 10:57 AM | 38 Comments
  • Sat, May 7, 10:49 AM
    • As part of sizable government reshuffle, Saudi Arabia's oil minister since 1995 Ali al-Naimi has been fired by royal decree, according to the WSJ. He's being kicked upstairs, where he'll be an advisor to the royal court.
    • He's to be replaced by Aramco Chairman Khaled al-Falih, and the oil ministry has been renamed the Ministry of Energy, Industry, and Mineral Resources.
    • Ali al-Naimi, of course, was a powerful and influential voice within OPEC.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    | Sat, May 7, 10:49 AM | 186 Comments
  • Wed, May 4, 11:00 AM
    • The lows are in for oil, says CMDTY Capital Management's David D'Alessandro, presenting at the Ira Sohn Conference.
    • Demand is rising, the U.S. driver is back, China isn't collapsing, and India is the new China - with demand growing at 600K barrels per day and the government intent on growing driving infrastructure (i.e. roads).
    • As for supply, if one factors in "usable" inventories, surpluses are less than what the headlines make them out to be.
    • Meanwhile, the EIA today reported crude inventories rose by a higher-than-expected 2.784M barrels in the last week. USO +1% today.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    | Wed, May 4, 11:00 AM | 12 Comments
  • Fri, Apr. 29, 2:23 PM
    • Eleven less oil rigs were in service this week vs. last, according to Baker Hughes, which places the count at 332.
    • Oil's had a volatile session - it was nearing $47 per barrel earlier this morning, before dropping to at low as $45.25 prior to the rig count news. It's now at $45.62, lower by 0.9% for the day.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    | Fri, Apr. 29, 2:23 PM | 85 Comments
  • Wed, Apr. 20, 1:03 PM
    | Wed, Apr. 20, 1:03 PM | 87 Comments
  • Tue, Apr. 19, 4:48 PM
    | Tue, Apr. 19, 4:48 PM | 92 Comments
  • Mon, Apr. 18, 5:25 PM
    • Why has consumption not responded to the crash in the oil price, ponder researchers at the San Francisco Fed? The stronger dollar could be at work, and then there's the fact that product prices haven't fallen at the same pace as oil.
    • Another possible reason, though, is the impact of a change in the oil price depends not only on its magnitude, but its perceived persistence. Consumer spending is more likely to rise if people believe the decline in prices will last for awhile. Conversely, if the drop is seen as a blip, consumers are more likely to save what they're not spending at the pump.
    • A lesson from the big move higher in oil earlier this century. Consumers didn't begin to perceive it as "permanent," until early 2008 - right about the time the price of Texas Tea peaked.
    • For those looking for a quick rebound in the oil price, consider that consumers of today still consider the move of the last year to be largely temporary.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    | Mon, Apr. 18, 5:25 PM | 29 Comments
  • Mon, Apr. 18, 4:39 AM
    • World shares are following crude deep into the red, after the world's largest oil exporters failed to reach an agreement in Doha to freeze output at January levels.
    • The major sticking point during the meeting was the heightened tension between Saudi Arabia, the de facto OPEC leader, and Iran, which made a last-minute decision not to attend the gathering.
    • Although no one expected Tehran to freeze production after its international sanctions were lifted, it wasn't clear if the Saudis would demand that Iran immediately join the pact.
    • Crude futures -5% to $39.63/bbl.
    • In Asia: Japan -3.4%; Hong Kong -0.8%; China -1.4%.
    • In Europe: London -0.6%. Paris -0.8%. Frankfurt -0.8%.
    • U.S. futures: Dow -0.4%. S&P -0.5%. Nasdaq -0.5%.
    | Mon, Apr. 18, 4:39 AM | 52 Comments
  • Sun, Apr. 17, 9:38 PM
    • The world's largest oil-producing countries this weekend failed to reach a deal to freeze output at current levels. The cards were set early after Iran decided at the last minute not to attend - no surprise to watchers like Wilbur Ross who earlier said talks were doomed to failure because Iran would not agree to any production limits until it ramped up to pumping out about 4M barrels per day.
    • With Saudi Arabia vowing not to freeze production until others did the same, there wasn't much left to talk about.
    • WTI crude oil is lower by 4.5% to $39.84 per barrel, dragging down S&P 500 (NYSEARCA:SPY) futures by 0.6%.
    • Oil ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    • Broad Energy ETFs: XLE, VDE, ERX, OIH, ERY, DIG, DUG, BGR, IYE, FENY, FIF, PXJ, RYE, FXN, DDG, ERYY
    • Now read: Oil Cap Talks: The Smoke And Mirror Games (April 16)
    | Sun, Apr. 17, 9:38 PM | 121 Comments
  • Tue, Apr. 12, 4:46 PM
    • WTi crude oil has pulled back from its 2016 high in early evening action after the API reports a 6.2M barrel inventory build vs. estimates for a build of less than 1M.
    • Up at $42.22 ahead of the number, oil is now trading at $41.57 per barrel.
    • USO -0.75% after hours
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    | Tue, Apr. 12, 4:46 PM | 68 Comments
  • Tue, Apr. 12, 10:50 AM
    | Tue, Apr. 12, 10:50 AM | 93 Comments
  • Tue, Apr. 5, 4:45 PM
    | Tue, Apr. 5, 4:45 PM | 104 Comments
  • Fri, Apr. 1, 9:38 AM
    • "It looks like the freeze deal may be starting to fall apart," says Dominick Chirichella of the Energy Management Institute, suggesting the April 17 meeting between OPEC and non-OPEC producers to discuss a freeze deal could be postponed.
    • Chirichella is reacting to comments from Saudi Arabia's deputy crown prince Mohammed bin Salman, who told Bloomberg his country will only freeze its oil output if Iran and other producers agree to cut theirs.
    • Even if a freeze were agreed to, it's not necessarily bullish, say other analysts. "It is hard to see how sticking to the January output level would be supportive for oil prices,” says one. “Maintaining this level is a tall order in itself as Iran will almost surely not be part of any agreement...There will be no rebalancing this year.”
    • WTI crude is lower by 3.7% to $36.93 per barrel, and now down about 15% over the past couple of weeks. It's dragging the XLE lower by 1.8% and the S&P 500 in turn by 0.75%. Europe's Stoxx 50 (NYSEARCA:FEZ) is down 2.7%.
    • USO -3.45%
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM
    • Now read: Saudi Arabia Is Freezing Oil Production By Default (Video) (April 1)
    | Fri, Apr. 1, 9:38 AM | 69 Comments
  • Tue, Mar. 29, 4:42 PM
    • U.S. oil inventories rose 2.6M barrels last week vs. expectations for a gain of 2M. Stocks fell 1.4M barrels the previous week.
    • The roughly inline number is enough to have oil recouping some of the day's losses in evening trade. WTI crude is at $38.54 per barrel vs. $38.34 ahead of the print. It's still lower by 2.15% on the day.
    • The EIA reports its stocks estimate tomorrow.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Mar. 29, 4:42 PM | 23 Comments
  • Tue, Mar. 29, 10:39 AM
    • "One of the largest, if not the largest short-squeezes ever seen in this market," is how Stephen Schork describes the bounce in oil since the mid-February low.
    • According to numbers from the CFTC and ICE, traders closed out 127K shorts on WTI crude and 58K on Brent from Feb. 9 to March 22. The plays were not necessarily replaced with bullish bets as speculative longs increased just 38K between the two products.
    • Schork's a bear, and sees oil's next big move as a down one to less than $30 per barrel.
    • via WSJ's Moneybeat
    • WTI crude is lower by 3.3% today to $38.10.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Mar. 29, 10:39 AM | 39 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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