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Teucrium WTI Crude Oil ETF (CRUD)

- NYSEARCA
CRUD is defunct since December 18, 2014. Lack of AUM
  • Nov. 11, 2014, 11:44 AM
    • Brent crude trades below $82/bbl after hitting a four-year low, amid signs that OPEC is not prepared to tackle the global supply glut.
    • "There’s uncertainty about OPEC and whether it will or will not cut production at the Nov. 27 meeting,” says Kyle Cooper, IAF Advisors' director of commodities research. “They probably wouldn’t have to do that much to stabilize the market, but until some action is taken there’s not a lot of upside for this market.”
    • "The path of least resistance is lower, until the OPEC meeting," Societe Generale analyst Michael Wittner says in a note.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | Comment!
  • Nov. 5, 2014, 1:04 PM
    • Rumors of a pipeline explosion in Saudi Arabia had oil spiking earlier this morning, but in fact it was a fire during construction repairs that was quickly brought under control.
    • In other news, EIA data showed a build in crude inventories of just 460K barrels, well shy of last week's 2.1M gain, and expectations for a 2.2M barrel boost.
    • It adds up to a 1.5% gain in WTI crude to $78.33 per barrel - barely a blip on the major four-month downtrend for oil.
    • USO +1.6%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, OLEM, TWTI
    | Comment!
  • Nov. 4, 2014, 9:43 AM
    • “News that Saudi has cut its asking price to customers in the U.S. suggests even the largest OPEC producer is now worried about its market share," says FOREX.com's Fawad Razaqzada. "This does not bode well for the future of the cartel."
    • It should be noted Saudi Arabia raised prices for other locations, including Asia after four consecutive monthly cuts.
    • Slowing economic activity is also at work as the EU Commission cut its forecast for European GDP growth, now expecting expansion of just 0.8%
    • WTI crude (NYSEARCA:USO) is down 2.25% to a 3-year low of $77.16 per barrel. As the U.S. moves into the heating season, heating oil (NYSEARCA:UHN) is near a four-year low of $2.45 per gallon. A trip around the mid-Atlantic shows gasoline (NYSEARCA:UGA) below $3 per gallon at the retail level for the first time in recent memory.
    • Inventory data from the API is due later today.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | 3 Comments
  • Nov. 3, 2014, 3:47 PM
    • U.S. oil prices tumble to new two-year lows after Saudi Arabia cuts its selling price for oil to the U.S., while raising prices for its oil in other locations,
    • Nymex December crude fell $1.76, or 2.2%, to settle at $78.78/bbl, the lowest settlement since June 2012; Brent crude initially rose on the Saudi prices but then tumbled along with the U.S. contract to settle down $1.08, or 1.3%, at $84.78.
    • Once the Saudi prices were reported, the structure of the U.S. oil contract shifted to indicate that traders see the market as oversupplied.
    • Some analysts say the December price moves suggest that while the Saudis are not trying to undercut its competitors in every region, they want to maintain market share in the U.S.
    • ETFs: USO, XLE, OIL, UCO, ERX, VDE, OIH, SCO, ERY, DIG, BNO, DTO, DBO, DUG, IYE, CRUD, USL, UWTI, FENY, PXJ, DNO, DWTI, RYE, FXN, SZO, OLO, DDG, TWTI, OLEM
    | 3 Comments
  • Oct. 31, 2014, 6:26 PM
    • The average gallon of gasoline in the U.S. will cost less than $3 this weekend for the first time in nearly four years, with more than 60% of all U.S. stations selling gas for less than $3/gallon, according to AAA.
    • "We're going to continue going down, and by Thanksgiving I'm seeing $2.80 a gallon" before stabilizing into early 2015, oil analyst Andy Lipow tells CNBC, noting that gasoline futures are tumbling, which will be passed on to consumers over the next few weeks.
    • Lipow remains wary of a potential market surprise if Saudi Arabia decides to cut production, "since the market thinks that OPEC is going to do nothing."
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
    | 17 Comments
  • Oct. 27, 2014, 7:49 AM
    • "We believe that OPEC will no longer act as the first-mover swing producer and that U.S. shale oil output will be called upon to fill this role,” says Goldman, cutting its 2015 Q1 oil price forecasts by $15 per barrel - WTI to $75, Brent to $85. "Our forecast also reflects the realization of a loss of pricing power by core-OPEC.”
    • The Goldman team believes OPEC's largest members - rather than responding to price declines by cutting production - are attempting to defend market share by reducing prices.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, OLEM
    • WTI crude is flat in morning action at $80.52.
    | 3 Comments
  • Oct. 23, 2014, 9:43 AM
    | 1 Comment
  • Oct. 22, 2014, 10:30 PM
    | 19 Comments
  • Oct. 22, 2014, 2:44 PM
    • Crude inventories rose 7.1M barrels for the week ended October 17, according to the EIA, vs. expectations for a 2.7M jump. Helping boost inventories were fewer refinery runs - down 113K barrels per day with utilization rates dropping 140 basis points to 86.7%. In the Midwest, utilization rates are the lowest for this point in the year since 2010.
    • WTI crude oil last week briefly dropped under $80 per barrel for the first time since the summer of 2012, and it's testing that level again today, -2.9% to $80.36. USO -2.4%
    • Gasoline (UGA -2.2%) stockpiles fell 1.3M barrels vs. expectations for a 1M barrel drop, and distillates (UNH -0.8%) rose 1M barrels vs. expectations for a 1.3M barrel decline.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM, TWTI
    | 6 Comments
  • Oct. 18, 2014, 8:25 AM
    | 26 Comments
  • Oct. 17, 2014, 8:37 AM
    • WTI crude oil futures rise more than $1 to above $84/bbl, and Brent crude also is up sharply, rising more than $1 to above $87, as Goldman Sachs says the market is not oversupplied.
    • "Prices have likely overshot to the downside,” says Jeff Currie, Goldman’s head of commodities research, which leaves his team "near-term constructive, despite being long-term bearish.”
    • “The ‘supply glut’ is not yet here today, it exists in expectations,” Goldman says, adding that the recent selloff in oil has been mostly driven by positioning based upon expected fundamental shifts, not actual observable shifts.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM, TWTI
    | 5 Comments
  • Oct. 16, 2014, 10:58 AM
    • Baker Hughes (BHI -10.2%) CEO Martin Craighead says during this morning's earnings conference call that oil prices below $75/bbl for a few months may cause energy companies to pull back spending on exploration and production.
    • But BHI customers don’t believe oil prices will stay low, the CEO says, adding that “the returns are still quite attractive... right now, it’s full steam ahead.”
    • Craighead says BHI is on pace to deliver solid results in Q4, deepwater projects are moving forward, and customers spending should remain stable.
    • T. Boone Pickens, among others, have said $80 U.S. oil for a quarter would cause E&P companies to reassess; West Texas crude fell below $80 this morning for the first time since June 2012, and now trades at ~$81.
    • Schlumberger (SLB -0.6%), the no. 1 supplier of oilfield services, is scheduled to release quarterly results after today's close.
    • Earlier: Baker Hughes misses estimates on weaker Gulf of Mexico drilling activity.
    • ETFs: USO, OIL, UCO, OIH, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | 1 Comment
  • Oct. 16, 2014, 7:25 AM
    | 7 Comments
  • Oct. 14, 2014, 7:00 AM
    • The International Energy Agency has sharply cut its forecast for oil demand, predicting that it will increase by 700,000 barrels per day (bpd) in 2014 vs a previous estimate of 0.9M bpd.
    • For 2015, the agency expects demand to rise 1.1M bpd to 93.5M, with the growth around 300,000 bpd less than previously thought.
    • "Recent price drops appear both supply and demand driven. Further oil price drops would likely be needed for supply to take a hit – or for demand growth to get a lift," the IEA says.
    • Nymex crude is -1.1% at $84.77. (PR)
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | 4 Comments
  • Oct. 14, 2014, 3:46 AM
    • There's "no room" to achieve higher oil prices by cutting production, Kuwait Oil Minister Ali Al-Omair has told the official Kuwait News Agency.
    • Al-Omair's remarks follow a report that Saudi Arabia is ready to accept oil prices below $90 per barrel, and even as low as $80, for up to a year or two.
    • A major concern for oil producers is the prospect of losing market share if they cut output. "Saudi Arabia doesn't want to lose market share in Asia," says industry expert Olivier Jakob. "They are increasingly giving signs they won’t do it on their own."
    • Nymex crude is -0.3% at $85.51.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | 1 Comment
  • Oct. 13, 2014, 12:38 PM
    • Calling a bottom is a fool's game and macro conditions continue to weigh, but oil - down another 1.15% today to $84.84 per barrel - is looking good on a risk-reward basis, say analysts Adam Longson and Elizabeth Volynsky.
    • "While fundamentals have been poor through much of the summer and fall, much of the last leg of downside has simply been a result of financial flows, sentiment and macro fears. Physical markets are strengthening, with more improvement ahead."
    • The team says analysts are too concerned with demand for gasoline and heating oil and thus missing the big picture of a strong long-term demand for crude. There's no sign, they say, of a sharp decline in demand outside of Europe, Japan, and Mexico (i.e. the U.S. and China are still gobbling it up).
    • “From a crude standpoint, OPEC is right to expect a material improvement in demand."
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, OLEM, TWTI
    | Comment!
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CRUD Description
The Teucrium WTI Crude Oil Fund (NYSE: CRUD) will provide investors unleveraged direct exposure to crude oil without the need for a futures account. The Teucrium WTI Crude Oil Fund was also designed to reduce the effects of contango and backwardation. CRUD, as a result of the diversified futures structure, was specifically designed to reduce the cost of rolling the investment when compared to funds that hold only a single month.
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