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PowerShares DB Oil ETF (DBO)

- NYSEARCA
  • Wed, Mar. 25, 5:29 AM
    • Oil dipped overnight as more evidence emerged that China's strategic reserves could nearly be full and ballooning U.S. storage volumes pressured prices.
    • An API report yesterday showed a slightly smaller build in U.S. crude stocks at 4.8M barrels last week, but any build from the more closely watched EIA figures due later today would confirm U.S. crude stockpiles hit a record for an eleventh straight week.
    • WTI crude is down 0.6% at $47.23/bbl.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 13 Comments
  • Tue, Mar. 24, 4:44 AM
    • Oil prices dropped again on Tuesday following an overnight report which showed Saudi production close to an all-time high and data that showed China's factory sector falling to an 11-month low.
    • Saudi Arabia is now pumping around 10M barrels of crude oil per day, about 350,000 bpd above the figure the Kingdom gave to OPEC for its February output.
    • Brent crude is trading down $0.46 at $55.46 a barrel, while WTI is $0.57 lower at $46.88/bbl.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 10 Comments
  • Mon, Mar. 23, 6:15 AM
    • Oil is tumbling once again after Saudi Arabia reiterated it would not unilaterally cut its output to defend prices.
    • "We tried, we held meetings and we did not succeed because countries outside OPEC were insisting that OPEC carry the burden and we refuse that OPEC bears the responsibility," said Saudi oil minister Ali al-Naimi at Sunday's energy conference in Riyadh.
    • OPEC governor Mohammed al-Madi also commented on the future price of oil at the meeting, saying it would be difficult for oil to reach a range of $100-$120/bbl again.
    • Crude futures -2.5% to $45.41.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 40 Comments
  • Sun, Mar. 22, 10:45 AM
    • It will be tough for oil to reach a price range of $100-120/bbl again, declared Saudi Arabia's OPEC governor Mohammed al-Madi today at an energy conference in Riyadh.
    • "$100-$120 - I think it's difficult to reach $120 another time...We understand that all countries need higher incomes...We want higher incomes, but we want higher incomes for us and future generations," said Madi.
    • "We are not against anybody or against the (production of U.S. shale oil)...On the contrary we welcome it, as it balances the market in the long run," he added.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 57 Comments
  • Fri, Mar. 20, 1:20 PM
    | 72 Comments
  • Fri, Mar. 20, 9:29 AM
    | 64 Comments
  • Wed, Mar. 18, 3:24 PM
    • Crude oil prices, in the doldrums yet again after U.S. inventories hit record highs for a 10th week and supplies at the futures' Cushing delivery hub hit a peak, turned around to finish higher following the Fed policy statement.
    • Nymex crude rose 2.5% to settle at $44.66/bbl, pushing off earlier lows of $42.25 and the lowest intraday level since March 2009; Brent is up 4.5% at nearly $56.
    • The gain could prove only a momentary recovery, however, as "speculation is going to grow about operational capacity being hit in Cushing and what that portends for prices,” according to Again Capital John Kilduff, adding that he sees U.S.crude testing $40 soon.
    • U.S. refiners are enjoying big gains as the Brent/WTI spread surpasses $11: TSO +5.1%, CLMT +4.7%, CVI +4.8%HFC +4.6%, MUR +4.5%, WNR +4.4%, VLO +3.9%, RDS.A +3.9%, CVRR +3.7%, MPC +3.3%, PSX +3.2%, ALJ +3.2%.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 40 Comments
  • Wed, Mar. 18, 10:31 AM
    | 32 Comments
  • Wed, Mar. 18, 5:37 AM
    • Oil extended losses to a seventh day, with crude futures down 2.2% at $44.20, ahead of stockpiles data and the Federal Reserve's monetary policy decision.
    • U.S. crude stocks are forecast to have surged for the tenth straight week to a new record high, fueling new supply concerns of a global oil glut.
    • The Fed is also likely to cut the word "patient" from its policy statement today, leaving the door wide open for a rate hike in June.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 16 Comments
  • Tue, Mar. 17, 12:24 PM
    • A nuclear agreement with Iran could lead to the easing of sanctions that in turn could cause crude to flood onto the market and depress prices even further, WSJ reports.
    • Iran's oil minister says his country could double its exports to as much as 1M bbl/day within several months - another excuse to bet on lower prices, although negotiators say they have a long way to go before reaching a deal by a March 31 deadline.
    • But concerns that a deal would flood an oversupplied market with oil are "unduly bearish," Clearview Energy Partners managing director Kevin Book tells CNBC, thinking that a deal "probably won't bring back crude exports to their full level right away... It's probably going to be a series of gates and steps, a process where Iran has to do some things, the West will give some sanctions relief."
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 17 Comments
  • Mon, Mar. 16, 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
    | 81 Comments
  • Mon, Mar. 16, 2:10 AM
    • With the dollar hitting fresh 12-year highs and growing concerns that the U.S. might run out of oil storage, U.S. crude fell for a fifth day, dropping to its lowest intraday price since March 2009.
    • Futures lost as much as 2.8% to $43.57 a barrel, as the dollar index stayed above the key 100 level, and following the IEA's prediction on Friday that tanks in the U.S. may become full this year as drilling-rig cuts fail to slow production.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 35 Comments
  • Fri, Mar. 13, 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
    | 31 Comments
  • Fri, Mar. 13, 2:14 PM
    • The U.S. oil rig count falls for the 14th straight week, down by another 56 to 866 rigs for its lowest level since March 2011, according to the latest data from Baker Hughes (NYSE:BHI).
    • There are now ~46% fewer oil rigs working since a peak of 1,609 in October, but that has not yet translated into a drop in actual production.
    • Combined, both oil and gas rigs fell by 67 to 1,125, down 686 from 1,809 at this stage a year ago; gas rigs were lower by 11 to 257.
    • U.S. crude prices already had dropped sharply - now -4.2% to just above $45/bbl - after the IEA said a global oil glut is building and U.S. oil production shows no signs of slowing.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 55 Comments
  • Fri, Mar. 13, 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
    | 30 Comments
  • Fri, Mar. 13, 6:17 AM
    • Oil prices might have stabilized only temporarily because the global oil glut is worsening and U.S. production shows no sign of slowing, the International Energy Agency announced today.
    • Putting additional downward pressure on prices, the energy watchdog said the U.S. may soon run out of spare capacity to store crude and forecast the process to last at least until the second half of 2015, when growth in U.S. oil production is expected to start abating.
    • Crude futures -0.7% to $46.74.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 16 Comments
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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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