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PowerShares DB Oil ETF (DBO)

  • Sep. 26, 2012, 11:19 AM
    Oil's recoupling to China and emerging markets has made it even more dependent on China's economic miracle continuing than investors might think. "The stronger the global economy, the higher the oil price, the stronger China's demand. And vice versa, the weaker, the weaker, the weaker," Deutsche Bank's Paul Sankey argues.
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  • Sep. 26, 2012, 10:19 AM
    Top global oil trader Vitol has continued to buy and trade Iranian fuel oil, Reuters reports, highlighting the challenges facing Western efforts to sanction Iran. Switzerland-based Vitol, which isn't bound by EU sanctions on Iran, reportedly bought 2M barrels of fuel oil from Iran for power generation and offered it to Chinese traders.
  • Sep. 25, 2012, 4:25 AM
    International regulators have withdrawn proposals for tougher oversight of the physical oil market after opposition from the IEA, OPEC and major oil companies, the FT reports. Regulators had wanted to use only completed deals to set benchmarks and enforce mandatory reporting of transaction data, but will settle for the current system of bids and offers despite acknowledging the potential for manipulation.
  • Sep. 21, 2012, 3:54 PM
    Maybe behind the plunge in crude earlier this week: Speculative longs were near an all-time high as of Tuesday, according to the CFTC's Commitment of Traders report. A chart of speculator positions vs. the price of oil over time shows spiking longs often presaging a quick reversal in price. (via)
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  • Sep. 20, 2012, 10:27 AM
    Changes in pipeline flows and the use of rail routes to carry crude produced inland to the U.S. coast are leading to big bets on a narrowing spread between Brent and WTI crude. “Volume in WTI-Brent has been massive over the last few weeks," says a dealer in swaps tracking both oil benchmarks." Many people anticipate the pipeline logjam is about to clear up."
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  • Sep. 19, 2012, 2:56 PM
    Interesting action in the commodity ETF sector shows a heavy hitter swapping out of $60M worth of the PowerShares Agriculture Fund (DBA) and into the Oil Fund (DBO) this morning. Is a big outfit booking profits on a summer rally in agriculture to pick up recently pummeled oil? It's also another example of liquid ETFs becoming a preferred playground for hedge funds and institutions.
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  • Sep. 19, 2012, 8:11 AM
    Saudi Arabia, worried the cost of oil will stifle the already weak global economy, is set to ship additional crude to its main customers in the U.S., Europe and Asia through the end of the year, FT reports overnight. The trick is how to do so while avoiding a confrontation with Iran, which has threatened the Saudis not to hike supplies to offset the impact of sanctions on Iranian crude exports.
  • Sep. 18, 2012, 7:11 PM
    Traders are still speculating about what caused the late selloff in crude oil yesterday. The Kilduff Report's Michael Fitzpatrick says it wasn’t a release by the Strategic Petroleum Reserve, nor was it some unusual trading activity. It was long liquidation, simple as that. JBC Energy adds that the fact that a selloff occurred for both Nymex crude and Brent “implies that this was no technical glitch, but rather a profit-taking strategy by major market participants that were worried about a price correction.”
  • Sep. 17, 2012, 3:09 PM
    Fat finger? CME Group (CME -0.3%) says it is unaware of any technical issue regarding this afternoon's sudden plunge in crude oil futures. Don't blame us, the White House says, denying any action on the strategic petroleum reserves. After hitting $99.52 this morning, crude oil pulled back, then plunged to $94.65 before closing at $96.52.
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  • Sep. 17, 2012, 2:43 PM
    It's a jittery afternoon in the oil markets, where crude futures plunged $3 in a single minute shortly before 2 p.m. for no apparent reason. Some traders blame rumors of a release of the strategic petroleum reserve, but articles were out earlier this morning discussing similar speculation. CNBC’s anchors are floating the idea that options expiry may be playing a role. October crude closed -2.7% at $96.62.
  • Sep. 7, 2012, 10:08 AM
    We'll ask the question again - has oil topped out? Isaac and the ECB couldn't get oil to extend its rally. Now Beijing and the Fed enter the picture and WTI crude falls 1.3% to $94.33 even as other stimulus-sensitive commodities get lit up bright green. (previous)
  • Sep. 6, 2012, 2:49 PM
    Has oil topped out? "Isaac couldn't get oil moving higher, ECB bond buying can't get oil moving higher," notes an energy analyst. "Anyone want to take a stab at what will move oil higher." WTI crude +0.1% to $95.43/barrel, giving up early session gains that saw it near $98.
  • Sep. 5, 2012, 7:33 AM
    Skyrocketing domestic consumption - helped along by subsidies masking the true cost - is key to Saudi Arabia maybe becoming a net importer of oil by 2030, far sooner than previously thought. The country already consumes the entirety of its gas production and is likely to imminently need new sources for that. Might this concentrate the Saudi mind on nuclear and solar energy? (previous)
  • Sep. 3, 2012, 2:34 AM
    Oil and gas producers in the Gulf of Mexico, as well as refineries on the mainland, are ramping up their operations after shutting down because of Hurricane Isaac. Almost 30% of oil production was back on line by the early hours of today, up from 6% on Saturday, and 44% of gas output, up from 35%. As of yesterday, only two refineries remained closed.
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  • Aug. 29, 2012, 10:02 AM
    Finance ministers likely will discuss oil markets at October's IMF meetings, a UK Treasury source tells Reuters, after the G7 nations say they may tap strategic reserves to calm prices. With Canada opposed to a release of oil, a coordinated G7 tapping of reserves is seen as unlikely, but a strong joint statement at the IMF could help cool prices.
  • Aug. 29, 2012, 8:39 AM
    Crude oil prices are down as Hurricane Isaac's wrath appears to leave Gulf Coast oil production facilities without significant damage. Even as a levee on the outskirts of New Orleans is breached, threatening major flooding, for the energy industry it's back to worrying about mundane matters like the global economy and Fed policy. WTI crude -0.6% to $95.73, Brent crude -0.2% to $112.35.
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DBO Description
The PowerShares DB Oil Fund (Fund) is based on the Deutsche Bank Liquid Commodity Index - Optimum Yield Oil Excess Return™ (Index) and managed by DB Commodity Services LLC. The Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. You cannot invest directly in an index. Ordinary brokerage commissions apply.
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