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PowerShares DB Crude Oil Long ETN (OLO)

- NYSEARCA
  • Dec. 29, 2014, 4:46 AM
    • Oil advanced for the first time in three days, as an escalating conflict in Libya stoked worries about supply from the OPEC member.
    • A fire caused by fighting at one of Libya's main export terminals destroyed 800K barrels of crude, amid clashes between factions battling for control of the nation.
    • Brent crude is up 1.1%, pushing over $60/bbl again. WTI is up 1.4% at $55.50.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 12 Comments
  • Dec. 24, 2014, 11:24 AM
    | 20 Comments
  • Dec. 24, 2014, 4:21 AM
    • Giving up some of the previous session's gains, crude prices are on the decline after trading near their highest prices in almost two weeks.
    • The gains yesterday came as revised Commerce Department data reported U.S. GDP surging 5% in Q3, its strongest growth in more than a decade.
    • Brent crude is down $0.39 at $61.30 after settling up $1.58 in the previous session. WTI is down 0.7% at $56.70, paring a 3.4% gain yesterday.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 3 Comments
  • Dec. 23, 2014, 4:09 AM
    • Arab OPEC producers expect global oil prices to rebound to $70-$80 a barrel by the end of next year as a global economic recovery revives demand.
    • The news follows Saudi Arabia's announcement, which stated that OPEC would not cut production at any price, even at $20 a barrel.
    • Gaining on the expectations of firm U.S. economic data due later today, Brent crude is up 0.7% at $60.51/bbl, while WTI is up 1.1% at $55.88.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 28 Comments
  • Dec. 22, 2014, 4:17 AM
    • Oil rose for a second day, extending the biggest rally since October 2012 after Saudi Arabia said it was confident that crude will rebound as global economic growth boosts demand.
    • Blaming the fall in oil prices on speculators and the lack of cooperation from non-OPEC producers, Saudi Arabia also announced that it would not cut output even if non-OPEC nations did so.
    • Brent crude is up 1.8% at $62.51/bbl. WTI is up 1.9% at $58.24.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 3 Comments
  • Dec. 21, 2014, 12:42 PM
    • Blaming the fall in oil prices on speculators and the lack of cooperation from non-OPEC producers, Saudi Arabia has announced that it would not cut output even if non-OPEC nations did so.
    • "If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut," says Saudi Oil Minister Ali al-Naimi.
    • His remarks at a conference in Abu Dhabi were echoed by some other Arab oil ministers, including UAE Oil Minister Suhail Bin Mohammed al-Mazroui, who urged all of the world's producers to quickly stabilize prices by not raising their oil output next year.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 29 Comments
  • Dec. 19, 2014, 2:20 PM
    • WTI crude oil has nearly recouped the week's losses today, up 4.5% to $56.80 per barrel. The move, however, doesn't even register on a daily chart.
    • Next year? Former WSJ energy reporter Ben Casselman takes to the FiveThirtyEight blog to remind that when he picked up the oil & gas beat in 2008, there was only one thing the experts agreed on: "U.S. oil production was in permanent, terminal decline ... No one has any idea what oil prices will do.”
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, OLEM, TWTI
    | 10 Comments
  • Dec. 18, 2014, 11:54 AM
    | Comment!
  • Dec. 18, 2014, 6:23 AM
    • Oil extended its biggest advance in more than a week amid speculation that the market might be looking to find a bottom and that the plunge to five-year lows may have been excessive.
    • Brent crude rallied 3.7% to $63.47/bbl, as some traders bet a six-month price rout could be ending as more energy firms cut investment budgets. WTI jumped 3.9% to $58.67.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 9 Comments
  • Dec. 17, 2014, 3:10 PM
    | 8 Comments
  • Dec. 17, 2014, 2:55 AM
    • Oil prices are continuing their downward slide today, as markets brace for the outcome of the U.S. Federal Reserve meeting this afternoon.
    • Analysts anticipate an upward revision to GDP growth forecasts in response to the slump in oil prices, and expect the Fed to signal that a rate hike is likely in mid-2015.
    • Brent crude is still below the key $60 mark, down 0.4% at $59.77 a barrel. WTI is down 0.8% at $55.46.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 3 Comments
  • Dec. 16, 2014, 7:29 AM
    • WTI crude oil earlier fell as low as $53.80 per barrel, but is now down 3.2% to $54.10. Brent crude (NYSEARCA:BNO) has dipped below $60 per barrel for the first time in five years.
    • “We need to see more evidence that that some production will stop and there’s less oil coming into the market before confidence can return,” says one analyst. “Until then, prices can continue to drop."
    • USO -2% premarket
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, OLEM, TWTI
    | 8 Comments
  • Dec. 15, 2014, 5:50 AM
    • Brent crude and WTI have turned sharply around after tumbling to fresh 5-1/2 year lows overnight on OPEC's announcement that it will not cut output even if prices fall as low as $40/bbl.
    • The rally is pushing European shares higher. Brent crude is up 1.6% at $62.86, after hovering close to $60/bbl yesterday. WTI fell below $57 last night, but is now up 1% at $58.39 per barrel.
    • FTSE 100 +0.6; DAX +0.5; CAC 40 +0.6; Euro Stoxx 50 +0.6.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 3 Comments
  • Dec. 14, 2014, 7:45 PM
    • WTI crude oil (NYSEARCA:USO) is off another 2% to $56.68 per barrel in early Sunday evening action.
    • Stock index futures are shrugging of the action for now, and the 10-year U.S. Treasury yield remains at the year-low of 2.08%.
    • Oil ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, OLEM, TWTI
    | 39 Comments
  • Dec. 14, 2014, 6:55 AM
    • Urging Gulf states to continue investing in exploration and production, OPEC Secretary General Abdalla Salem el-Badri said on Sunday that the the group has no target price for oil, and that the U.S. would continue to rely on Middle East crude for many years.
    • However, the OPEC leader acknowledged that oil prices have fallen more than the market should have dictated, stating "the fundamentals should not lead to this dramatic reduction (in price)."
    • Badri also related that there was still uncertainty over a need to convene an emergency OPEC meeting before June.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 122 Comments
  • Dec. 12, 2014, 3:27 PM
    • Off 3.8% today to $57.68 per barrel, WTI crude oil (USO -3.4%) has tumbled 12% for the week, 16% since Thanksgiving when OPEC couldn't agree on production cuts, and nearly 50% since its peak for the year in mid-June.
    • A bear market like this hardly needs an excuse to go lower, but today's cut in estimated 2015 oil demand by the IEA makes for a nice reason.
    • Unsurprisingly, the XLEdown 1.3% on the session - is underperforming most sectors and the broad averages.
    • On the bright side: The crash in oil prices appears to be boosting consumer sentiment which unexpectedly jumped to its highest level in seven years.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, OLEM, TWTI, XLE, ERX, VDE, OIH, ERY, DIG, DUG, IYE, FENY, PXJ, RYE, FXN, DDG
    | 20 Comments
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OLO Description
All of the PowerShares DB Crude Oil ETNs are based on a total return version of the Deutsche Bank Liquid Commodity Index-Oil (the "Index") which is designed to reflect the performance of certain crude oil futures contracts plus the returns from investing in 3 month United States Treasury bills. The Long ETN is based on the Optimum Yield™ version of the Index and the Short and Double Short ETNs are based on the standard version of the Index. The Optimum Yield™ version of the index attempts to minimize the negative effects of contango and maximize the positive effects of backwardation by applying flexible roll rules to pick a new futures contract when a contract expires. The standard version of the index, which does not attempt to minimize the negative effects of contango and maximize the positive effects of backwardation, uses static roll rules that dictate that an expiring futures contract must be replaced with a contract having a pre-defined expiration date.
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