OLO: PowerShares DB Crude Oil Long ETN Market Currents Page 5

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Friday, September 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) 1 Comment [Commodities]
Thursday, September 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." Comment! [Energy, Commodities]
Wednesday, September 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. 1 Comment [Commodities]
Wednesday, September 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. 2 Comments [Commodities, Global & FX]
Tuesday, September 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.” 10 Comments [Commodities]
Monday, September 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. 1 Comment [Commodities]
Monday, September 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. 7 Comments [Commodities]
Friday, September 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) 2 Comments [Commodities, On the Move]
Thursday, September 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. 9 Comments [Commodities]
Wednesday, September 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) 28 Comments [Energy]
Monday, September 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. 1 Comment [Energy]
Wednesday, August 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. 2 Comments [Energy, Commodities, Global & FX]
Wednesday, August 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. 2 Comments [Energy, Commodities]
Tuesday, August 28, 2012, 4:25 PM The G-7 lays down the gauntlet to the longs, its finance ministers saying they're monitoring the oil market "closely," and ready to call on the IEA to "take appropriate action." Of course, IEA chief Maria van der Hoeven was on the wires earlier saying the market is well supplied and not in need of an emergency stockpile release. 4 Comments [Commodities, Breaking News]
Tuesday, August 28, 2012, 2:59 PM Hurricane Isaac and the Venezuelan refinery explosion increase the chances of a release from the U.S. strategic oil reserves, analysts say, possibly by early next week. Without a release, gasoline prices may approach $4/gallon and open up Pres. Obama to criticism from consumers, but the reserve "was never intended as a buffer against high gasoline prices,” a former Shell exec says. 11 Comments [Energy, Commodities]
Tuesday, August 28, 2012, 2:18 PM So is the Venezuelan oil fire out or not? Venezuela’s energy minister insists the inferno that has halted operations at its largest refinery is “totally extinguished," but a recent live broadcast by Venezuelan TV - which was swiftly cut off - showed flames and black smoke in at least one of the fuel storage tanks. Valero (VLO +1%) is the leading gainer among refiners; also XOM +0.3%, CVX +0.5%. 4 Comments [Energy, Global & FX]

OLO PowerShares DB Crude Oil Long ETN

OLO

PowerShares DB Crude Oil Long ETN