The United States Gasoline ETF, LP
 (UGA)

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  • Apr. 2, 2015, 11:49 AM
    • In what looks like a deal to reach a deal, negotiators between Iran, the U.S. and five other countries have agreed upon what needs to get done by the end of June in order to declare peace is at hand.
    • Apparently at issue now - as Swiss officials set a news conference for later today - is how much of the detail to disclose to the public.
    • Source: AP
    • Oil remains lower by about 2% on the session. USO -0.85%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Apr. 2, 2015, 11:49 AM | 68 Comments
  • Mar. 27, 2015, 3:06 PM
    • Pick your excuse: A slowing in the decline of the U.S. drilling rig count, the crisis in Yemen not having a whole lot of impact, or the chance of a weekend U.S./Iran nuclear deal which would include the lifting of oil sanctions.
    • WTI crude oil (NYSEARCA:USO) is lower by 5.4% to $48.64 per barrel, erasing most of a gain this week which had it above $52 not much more than 24 hours ago.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Mar. 27, 2015, 3:06 PM | 37 Comments
  • Mar. 25, 2015, 2:42 PM
    | Mar. 25, 2015, 2:42 PM | 33 Comments
  • Mar. 20, 2015, 9:29 AM
    | Mar. 20, 2015, 9:29 AM | 64 Comments
  • Mar. 16, 2015, 10:40 AM
    • U.S. oil production could begin to decline by year-end, says OPEC, trying to defend its decision to maintain output in a bid to gain market share by forcing American producers to stop drilling.
    • The cartel had previously forecast U.S. oil production to not begin declining until 2018.
    • For the full year, OPEC sees U.S. production growth of 820K barrels per day vs. 2014's 1.61M barrel per day increase.
    • A bounce in WTI crude has failed and it's now taken out new six-year lows, down 3.5% on the session to $43.26 per barrel. USO -3.9%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Mar. 16, 2015, 10:40 AM | 81 Comments
  • Mar. 13, 2015, 3:26 PM
    • The crafty traders at the Energy Department are reportedly considering taking advantage of oil's big decline to pick up another 5M barrels for the strategic petroleum reserve, according to reports.
    • "The DOE has been pretty good at adding to the reserve when prices are low and they can help out struggling U.S. producers to boot," says Price Futures Group's Phli Flynn.
    • Oil remains near its session lows, -4.3% to $45.04.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | Mar. 13, 2015, 3:26 PM | 31 Comments
  • Mar. 13, 2015, 11:01 AM
    • The key force in the recent bounce in commodity markets, says Goldman Sachs, has been retailers pouring money into oil ETFs even as commodity fundamentals remain weak, especially as compared with the outlook for stocks.
    • "We believe that these inflows are generating selling opportunities in oil and copper precisely because they are at odds with commodity market fundamentals," says Goldman, noting the rapid recent fall in rig count is being offset by rising rig productivity, the backlog of wells, and the possibility of high-grading in the near future.
    • "Dissecting commodity sell-offs suggests that later is better," says the team, noting it can take months before consumption fully adjusts to lower prices (i.e., rising enough to offset the inventory build).
    • ETFs: USO, XLE, OIL, UCO, ERX, VDE, OIH, SCO, ERY, DIG, JJC, BNO, UGA, DTO, DBO, DUG, IYE, UWTI, USL, FENY, DWTI, PXJ, UHN, DNO, RYE, SZO, FXN, CPER, OLO, DDG, CUPM, TWTI, OLEM
    | Mar. 13, 2015, 11:01 AM | 30 Comments
  • Mar. 10, 2015, 1:51 PM
    • Prices for WTI crude oil (USO -2.9%) are expected to average $52.15 per barrel this year, down from the previously-forecast $55.02. Though also lowering its 2016 outlook, the EIA continues to expect a strong bounce in prices next year - now $70 vs. $71 previously.
    • Capex spending slowdown? U.S. crude oil production is expected to average 9.3M barrels per day this year, and rise to 9.5M in 2016. This country's highest-ever average production was 1970 at 9.6M barrels.
    • WTI crude is lower by 1.7% on the session to $48.35 per barrel.
    • EIA Short-Term Energy Outlook
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Mar. 10, 2015, 1:51 PM | 6 Comments
  • Mar. 9, 2015, 7:46 AM
    • "The lack of a meaningful [inventory] build in the past few months leaves risk to our forecast for oil prices remaining at $40 a barrel for two quarters skewed to the upside," says Goldman, citing the weather as helping to keep more crude from coming to market.
    • Alongside the weather, violence, or sanctions-related supply disruptions pulled 885K barrels per day from the market in January and February vs. December, says Goldman. The team isn't necessarily bullish on oil though, and reminds Libyan disruptions are at a peak, normal weather in Iraq could lead to a boost in exports, and Russia, Brazil, Saudi Arabia, and the U.S. could continue to lift production. "Our expectation going forward is therefore for the global crude inventory build to resume."
    • Crude is little-changed in morning action, at $49.81 per barrel.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Mar. 9, 2015, 7:46 AM | 20 Comments
  • Mar. 6, 2015, 1:19 PM
    • The U.S. rig count declined by 75 this week to 1,192, picking up the pace from last week's 43 rigs taken out of service, the 13th consecutive week of total decline and the lowest reading since the week ending Dec. 31, 2009, according to the latest survey from Baker Hughes (NYSE:BHI).
    • Drillers idled 64 oil rigs to 922, the lowest number of oil rigs in use since April 2011 and down 43% since October.
    • Per drilling region, the biggest decline came from Texas' Permian shale basin, where 22 rigs were shut down, while 8 Eagle Ford rigs were shut.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Mar. 6, 2015, 1:19 PM | 26 Comments
  • Mar. 3, 2015, 12:08 PM
    • "This is a bad deal. It's a very bad deal. We're better off without it," says Israeli PM Benjamin Netanyahu, speaking before Congress about U.S. negotiations with Iran over its nuclear ambitions. "The alternative to this deal is a much better deal."
    • For now, the clarity of his speech looks to have set back the chance of sanctions being lifted on Iran, and crude oil is more than $1 per barrel higher to $50.25 since the address' 11 ET start.
    • USO +0.95%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Mar. 3, 2015, 12:08 PM | 16 Comments
  • Feb. 27, 2015, 1:21 PM
    • Just 33 U.S. oil rigs were taken out of service this week, bringing the total down to 986, the lowest since summer 2011. The number of oil and gas rigs fell 43 to 1,267 - the lowest since early 2010.
    • For oil traders, that's still too many rigs pumping, and WTI crude slides nearly $1 per barrel on the report, to $48.55 per barrel (it's still up by 0.85% on the session).
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Feb. 27, 2015, 1:21 PM | 26 Comments
  • Feb. 26, 2015, 2:48 PM
    | Feb. 26, 2015, 2:48 PM | 15 Comments
  • Feb. 25, 2015, 11:04 AM
    • WTI crude (NYSEARCA:USO) knee-jerked down to about $48.50 per barrel after the EIA reported a crude oil inventory build of 8.4M barrels vs. 4M consensus (and 7.7M last week), but the price has since recovered to where it stood prior to the print, -0.3% at $49.13.
    • Gasoline (NYSEARCA:UGA) stocks fell 3.1M barrels  vs. a 1.5M consensus drop and a 500K gain last week. Distillates (NYSEARCA:UHN) fell 2.7M barrels vs. a 3M barrel consensus drop, and a decline of 3.8M last week.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Feb. 25, 2015, 11:04 AM | 44 Comments
  • Feb. 19, 2015, 11:08 AM
    • Oil inventories rose 7.7M barrels, according to the EIA, well north of expectations for a 3.7M barrel build, but far less than last night's API shocker of a gain - 14.3M barrels.
    • Gasoline (NYSEARCA:UGA) stocks rose 500M barrels, inline with estimates, and distillates (NYSEARCA:UHN) fell 3.8M barrels vs. consensus for a 2M decline.
    • Back down below $50 per barrel earlier, WTI crude oil is now lower by 3.8% on the session at $50.81.
    • USO -3%
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Feb. 19, 2015, 11:08 AM | 64 Comments
  • Feb. 11, 2015, 11:11 AM
    • Crude oil inventories rose 4.9M barrels last week, according to the EIA - that 's less than the 6.3M gain the previous week, but more than expectations for 3.7M.
    • Gasoline (UGA -2.6%) stocks rose 2M barrels vs. 200K consensus, and distillates (UHN -2.5%) fell 3.3M barrels vs. 800K consensus.
    • Already lower on the session, WTI crude dipped all the way down to $48 per barrel on the news, but has since rebounded to $48.81, off 2.4%. USO -3.4%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | Feb. 11, 2015, 11:11 AM | 13 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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