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PowerShares DB Oil ETF (DBO)

- NYSEARCA
  • Mon, Jan. 26, 4:08 AM
    • Crude prices are again on the decline after King Salman Bin Abdulaziz, who took over after the death of King Abdullah on Friday, pledged to maintain the policies of his predecessor in a speech on Saudi national television.
    • Greece's election results have also increased uncertainty in the euro zone, pushing down prices further.
    • Brent is 1.1% lower at $48.25/bbl, while WTI is down 1% at $45.14.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 6 Comments
  • Fri, Jan. 23, 2:15 PM
    • The number of oil and gas rigs in use in the U.S. fell by 43 last week to 1,633, bringing the rig count to its lowest level since Aug. 2010, according to the latest data from Baker Hughes (NYSE:BHI).
    • The count has now fallen in eight consecutive weeks, losing 287 units during that period; the U.S. now has 144 fewer rigs working than in the same week a year ago.
    • 42 of the 43 units that went offline in the past week were land-based, bringing the total to 1,568 and culminating a drop of 176 units in three weeks.
    • Oil rigs plunged 49 units to 1,317, while gas rigs gained six units to 316.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 19 Comments
  • Fri, Jan. 23, 8:34 AM
    • While crude oil initially rallied as much as 3% on the news of the death of Saudi Arabia's King Abdullah (I, II), futures have pared gains amid expectations that the kingdom would not significantly change its policies - meaning the world’s top oil exporter most likely will maintain its production levels, despite falling prices, in an effort to hold onto its market share.
    • Saudi policy "has never been depended on one individual, certainly not on a 90-year old man who was largely absent from public life," says Julian Jessop, global chief economist at Capital Economics.
    • Economic data out of China provides a modestly bullish signal, as a gain in HSBC's China manufacturing PMI adds to signs of stabilization of global demand.
    • WTI crude +0.3% to $46.46/bbl, Brent +1.7% to $49.36/bbl.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 2 Comments
  • Thu, Jan. 22, 6:38 PM
    • Saudi state TV reports King Abdullah has died. Crown Prince Salman has been named his successor.
    • Oil prices have risen on the news. WTO crude is up $0.97 to $47.28.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 2 Comments
  • Thu, Jan. 22, 11:35 AM
    • WTI crude oil is lower by 2.9% to $46.37 after the EIA reports an inventory build of 10.1M barrels last week, about 4x consensus estimates. Stockpiles of 387.9M barrels are the highest for this time of year in 80 years, says the EIA.
    • Gasoline inventories rose 600K barrels, less than forecast, and distillates fell 3.3M barrels versus expectations for a 300K barrel build.
    • USO -2.25%, UGA -0.7%, UHN +1.5%
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 23 Comments
  • Tue, Jan. 20, 4:22 AM
    • "Iran has no plan (to hold an emergency OPEC meeting) and is currently in consultations with other OPEC member states in a bid to prevent the sharp fall in the oil price, but these consultations have yet to bear fruit," said Oil Minister Bijan Zanganeh on the Iranian oil ministry's website SHANA.
    • "Iran is strong enough to withstand a deeper slump in prices even if the country must sell at $25 a barrel," he added.
    • Brent is 1% lower at $48.36/bbl, while WTI is down 3.1% at $47.18.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 22 Comments
  • Mon, Jan. 19, 5:13 AM
    • Oil prices are beginning the week again in negative territory, after breaking a seven-week losing streak last week following comments made by the International Energy Agency.
    • On Friday, the energy watchdog lowered its 2015 forecast for non-OPEC supply growth, saying that "signs are mounting that the tide will turn."
    • Brent crude is once again below the $50 mark, down 1.3%. WTI is 1.4% lower at $47.99.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 13 Comments
  • Fri, Jan. 16, 3:32 PM
    • A volatile week saw WTI crude oil (NYSEARCA:USO) as low as $44 per barrel, as high as $52, and ultimately ending right near where it opened on Sunday night at just over $48.
    • Saying the "tide will turn," the IEA earlier today cut its forecast for non-OPEC production, and HSBC is beginning to see early signs of "market rebalancing" - code for production cutbacks.
    • Don't expect a V-shaped recovery warns HSBC for four reasons: 1) They believe it when the Saudis promise no production cuts 2) Oil is quoted in the still-strong dollar 3) While not weak, oil demand isn't very strong either 4) What non-OPEC production cuts we have seen aren't enough.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | 4 Comments
  • Fri, Jan. 16, 2:27 PM
    • The U.S. drilling rig count plunged 74 units, all on land, to settle at 1,676 rigs working in the latest week for the lowest total since Oct. 2010, Baker Hughes (NYSE:BHI) says in its weekly report.
    • The count has now fallen for seven straight weeks as it has lost 244 units, and the U.S. now has 101 fewer rigs than during the same week a year ago.
    • Most of the losses came in Texas, where the count fell 44 units to 766 to bring the state’s total to its lowest since Mar. 2011; North Dakota gave up just six units to 156.
    • Canada added 74 rigs, but still has 125 fewer rigs compared with this week a year ago.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 12 Comments
  • Fri, Jan. 16, 4:34 AM
    • Non-OPEC oil producers will increase output this year at a slower rate than previously forecast, aiding a recovery in crude prices and "rebalancing" the currently over-supplied global markets in the second half of 2015, announced the International Energy Agency.
    • Lowering its non-OPEC supply growth estimate by 350K barrels per day, the IEA says non-OPEC supply will only increase by 950K bpd this year to 57.5M/day.
    • Brent crude +1.1% to $48.80, WTI +1.3% to $46.85.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 11 Comments
  • Thu, Jan. 15, 3:02 PM
    • Hanging around $45 per barrel yesterday afternoon, WTI crude oil soared higher to close the session and continued the rally today -touching nearly $52 earlier this morning. A steep selloff since, however, leaves it lower by 4% on the session at $46.35 ... Just a run-of-the-mill 12% intraday move.
    • USO -3.7%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | 3 Comments
  • Thu, Jan. 15, 10:25 AM
    • North Dakota oil production rose to a new record even as energy companies drilled fewer wells and the rig count dropped to a near five-year low.
    • The state's oil output hit a record 1.19M bbl/day in November, the most recent month available, according to data released yesterday by North Dakota’s Department of Mineral Resources.
    • Despite the new record, the head of the department warned the state’s crude production will peak and decline later this year if oil prices don’t rebound; the current price of North Dakota sweet crude is ~$29.25/bbl, the lowest since Dec. 2008.
    • The latest drilling rig count is 158, the lowest in nearly five years and down from a high of 218 rigs in 2012, but the department says production may not start to drop until the rig count falls to 130 or lower.
    • Gregor McDonald argues that the North Dakota data confirming that Bakken drilling activity has slowed meaningfully has sparked the snapback rally in crude oil prices.
    • Top Bakken producers: CLR, EOG, WLL, HES, XOM, OAS, NOG, EOX, MRO
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 14 Comments
  • Thu, Jan. 15, 5:38 AM
    • Brent crude is trading lower than WTI for the second time this week, after a similar drop on Tuesday, when the gap between the two benchmarks came to a close for the first time since July 2013.
    • Brent is now 3% lower at $47.21/bbl, while WTI is down 1.9% at $47.54.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 2 Comments
  • Thu, Jan. 15, 2:09 AM
    • The spread between Brent crude and WTI is narrowing again due to WTI's growing pipeline capacity, a reduced need for foreign crude in the U.S. and Brent being tied to an oversupplied European market.
    • Marking a significant milestone in oil trade, WTI briefly traded higher than Brent crude on Tuesday, erasing the gap between the two benchmarks for the first time since July 2013.
    • Brent is now 1% lower at $48.15/bbl, WTI is down 0.7% at $48.20.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 6 Comments
  • Wed, Jan. 14, 3:07 PM
    • A $3 move higher in the last hour has WTI crude oil ahead by almost 6% on the session and above $48 per barrel. There's no particular news behind the move, just a heavily oversold asset burning a few greedy shorts.
    • Earlier, the EIA reported an unexpected big increase in crude inventories. When the bears couldn't take oil any lower on the news, it likely rang a bell to start buying.
    • Previously: EIA Petroleum Inventories (Jan. 14)
    • USO +3.6%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | 39 Comments
  • Wed, Jan. 14, 11:13 AM
    | 31 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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