The United States Gasoline ETF, LP (UGA) - NYSEARCA
  • Wed, Mar. 16, 3:30 PM
    | Wed, Mar. 16, 3:30 PM | 43 Comments
  • Tue, Mar. 15, 4:53 PM
    • U.S. crude supplies rose 1.5M barrels in the week ended March 11, according to the API, vs. expectations for a 2.7M barrel build.
    • The EIA releases its estimate tomorrow.
    • Oil has moved higher since the news hit, now at $36.77 per barrel vs. $36.40 a few minutes ago, and a low earlier in the day at about $36.
    • USO +0.7% after hours
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Mar. 15, 4:53 PM | 19 Comments
  • Tue, Mar. 8, 6:59 AM
    • "I'll go full power if there's no agreement. Every barrel I produce I'll sell," says Kuwait's oil minister, letting it be known his country has no intention of cutting output unless all major oil producers, including Iran, are on board with a deal.
    • Sell the rip, says the team at Goldman. The current rally is "simply not sustainable in the current environment ... Energy needs lower prices to maintain financial stress to finish the rebalancing process; otherwise, an oil price rally will prove self-defeating, as it did last spring."
    • Oil, meanwhile, is holding its own despite these bearish comments and poor trade data out of China. It's lower by just 0.45% to $37.74 per barrel.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Mar. 8, 6:59 AM | 42 Comments
  • Mon, Mar. 7, 1:03 PM
    • WTI crude oil began the year at about $40 per barrel, and bottomed well below $30 in mid-February. With another 5.5% gain today, the price has returned to just a few pennies shy of $38.
    • Brent crude, in the meantime, today touched $40 per barrel for the first time in 2016.
    • In one of those "why didn't they tell me sooner," reports, Bernstein's Neil Beveridge says traders are underestimating China's production cuts and thus the market could re-balance sooner than expected. He sees China cutting production by 3% this year, or 150M barrels per day. The consensus is anticipating just a 0.7% production decline.
    • USO +4.7%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Mon, Mar. 7, 1:03 PM | 37 Comments
  • Tue, Mar. 1, 4:48 PM
    • Crude inventories rose 9.9M barrels last week, according to the API, easily topping estimates for just 3.3M. Cushing stocks rose 1.8M barrels vs. expectations for 700K.
    • Gasoline stocks fell 2.2M barrels vs. an expected decline of 1.1M.
    • WTI crude has dipped about about $0.50 since the news hit a couple of minutes ago. USO -1.4% after hours
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Mar. 1, 4:48 PM | 78 Comments
  • Wed, Feb. 24, 12:28 PM
    • Down more than 3% at $30.50 per barrel moments ago, WTI crude oil has spiked up to $32.05, now ahead 0.6% on the session.
    • Reason? If you're looking for one you lose, but there's probably been some utterance from somewhere on the planet from some OPEC pezzonovante. USO +0.8%
    • The move in crude has carried stocks well off of their session lows. S&P 500 (SPY -0.7%).
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Feb. 24, 12:28 PM | 73 Comments
  • Tue, Feb. 23, 11:07 AM
    • Speaking at an industry event in Houston, Saudi Oil Minister Ali al-Naimi says his country has "not declared war on shale" and welcomes new supplies. "Our purpose is not market share."
    • The market, he says, will ultimately determine who stays in business, and inefficient, uneconomic producers will have to get out.
    • As for an agreement between OPEC and Russia to cut production, it's not going to happen.
    • Well north of $33 per barrel not long ago, WTI crude is now off by 4.55% to $31.86. USO -5%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Tue, Feb. 23, 11:07 AM | 95 Comments
  • Mon, Feb. 22, 3:20 PM
    • Even if U.S. shale-oil production this year drops as sharply as expected and OPEC and Russia reach an agreement on capping output, it could be 2018 before the current crude oil glut disappears, according to new projections from the IEA.
    • The agency sees U.S. shale production declining by 600K barrels per day this year, and 200K per day in 2017. This stands against about 2M barrels per day of oversupply last year and just over 1M expected this year. An OPEC official thinks a cut of about 1.5M barrels per day is needed to bring the market into balance.
    • The cuts/caps have the IEA predicting oil inventories rising by only 100K barrels per day in 2017 and falling 400K barrels per day in 2018.
    • Oil continues its bounce today, up another 6% to $31.43 per barrel.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Mon, Feb. 22, 3:20 PM | 31 Comments
  • Fri, Feb. 19, 3:19 PM
    • Total petroleum deliveries in the U.S. last month rose 0.8% to 19.4M barrels per day, according to the API - that's the strongest January level since 2008.
    • Gasoline production hit a January record, as did product exports.
    • Crude oil production of 9.2M barrels per day fell 1.4% from year-ago levels.
    • The price of oil is giving back a chunk of its big gains over the past few sessions - down 3.4% today to $31.82 per barrel, but up from about $26 just over a week ago.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Fri, Feb. 19, 3:19 PM | 12 Comments
  • Thu, Feb. 18, 6:27 PM
    • Oil bulls are “clutching at straws" if they believe the recent crude oil rally has staying power, Citigroup analysts warn, saying that “the market clearly wants to see some signs of life in OPEC, but we think bulls... are likely to be better served" by focusing on the summer outlook for gasoline.
    • Iran's buy-in on the Saudi-Russian proposal to freeze production, and market speculation has been that Iran would be offered a cap of 300K bbl/day above its current levels; "That this was not enough speaks either to Iran’s confidence that it can exceed that number this year, or to the breakdown in inter-OPEC relations, or both,” Citi's Seth Kleinman says.
    • However, Michael Purves, head of derivatives strategy at Weeden & Co., notes that the so-called implied volatility of oil prices recently surged to a seven-year high, meaning that the cost of using options as portfolio protection is extreme, which could serve as a "coiled spring" for oil prices and help support short-term gains.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, OLO, SZO, OLEM
    | Thu, Feb. 18, 6:27 PM | 57 Comments
  • Thu, Feb. 18, 11:46 AM
    • Up near $32 per barrel earlier in the session, black gold has returned to about flat at $30.70. At work is a jump in inventories reported by the EIA, along with a story just hitting the wire that the Saudis say they won't cut production.
    • Of course any initial agreement between OPEC and Russia was going to be about a freeze in production, not a cut, so a bull could interpret the Saudi comments as nothing to worry about.
    • USO -0.3%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Thu, Feb. 18, 11:46 AM | 45 Comments
  • Wed, Feb. 17, 10:38 AM
    • Earlier, Iran's OPEC envoy was reported as saying it would be "illogical" for the country - just coming out of sanctions - to freeze its oil output.
    • Now the country's oil minister says Iran would support any effort aimed at stabilizing oil prices - including a deal between OPEC and non-OPEC (Russia) producers.
    • The bulls have control for now, with WTI crude higher by 4.1% to $30.27 per barrel. USO +4.1%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | Wed, Feb. 17, 10:38 AM | 80 Comments
  • 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
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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