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The United States Gasoline ETF, LP (UGA)

- NYSEARCA
  • Dec. 9, 2014, 9:54 AM
    | Dec. 9, 2014, 9:54 AM | 15 Comments
  • Dec. 5, 2014, 10:41 AM
    • One casualty of the strong jobs number is crude oil, which has shed $1.25 per barrel since the 8:30 ET report, now at $65.21 - its lowest print in more than five years.
    • Oil doesn't need much of an excuse to head lower of late, but - fishing for a reason - one might conclude that the stronger economy will hasten higher rates and thus a slowdown in the economy. Alternatively, maybe oil is telling us the economy isn't as strong as the jobs headline makes it out to be. Or maybe there's just too much oil, no matter what the economy is up to.
    • USO -2.1%
    • Previously: Strong wage gains highlight big jobs report
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, OLEM, TWTI
    | Dec. 5, 2014, 10:41 AM | 17 Comments
  • Dec. 4, 2014, 9:38 AM
    • Oil prices turn sharply lower after Saudi Arabia cut the price of its oil in the U.S., reinforcing concerns that the kingdom is prioritizing market share rather than raise prices.
    • Saudi Aramco says it had reduced its official selling prices prices for all crude grades to the U.S. by $0.10-$0.90/bbl, and cut prices for oil grades bound for Asia by $1.50-$1.90/bbl; it raised prices for northwest Europe and the Mediterranean.
    • Another Saudi price cut to the U.S. is “tantamount to a declaration of war to U.S. shale-oil producers, in view of the significant decline in the price of the benchmark [U.S. oil],” Commerzbank says.
    • WTI crude -1.2% to $66.53/bbl, Brent -0.9% to $69.26; energy stocks open broadly lower after leading the market during the first three sessions of the week.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Dec. 4, 2014, 9:38 AM | 18 Comments
  • Dec. 3, 2014, 4:50 PM
    • An Oncue Express station in Oklahoma City is selling gasoline for $1.99 per gallon, the first time anything below $2 has been seen since mid-summer 2010. Today's national average of $2.74 per gallon is a whopping $0.51 lower than a year ago (saving consumers about $200M per day).
    • According to AAA, gas stations have yet to catch up to the plunge in crude oil ad drivers can expect $0.15-$0.20 in price cuts in the coming weeks.
    • UGA fell 0.5% in today's session.
    | Dec. 3, 2014, 4:50 PM | 2 Comments
  • Nov. 30, 2014, 8:02 PM
    | Nov. 30, 2014, 8:02 PM | 76 Comments
  • Nov. 28, 2014, 12:52 PM
    • "OPEC, like Rockefeller, ultimately damned itself," writes Wolfe Research's Paul Sankey. He doesn't see oil demand ratcheting upwards because of the drop in oil prices; instead, he says, the market will only clear at the point of U.S. supply growth destruction.
    • This could take months and a price of around $50 per barrel ... "And then we squeeze radically higher. As a result, the world accelerates its move away from oil."
    • "This is going to be volatile, and we can't understand how that helps the Saudis. Volatility sells Teslas."
    • WTI crude (NYSEARCA:USO) tried bouncing earlier, but is now lower by 8.5% at $67.43 per barrel. The Energy Select SPDR (XLE -6.6%) is also set to close today's shortened session on the lows.
    • ETFs: USO, XLE, OIL, UCO, ERX, VDE, OIH, SCO, XOP, ERY, DIG, BNO, UGA, DTO, DBO, DUG, IYE, XES, IEO, CRUD, IEZ, UWTI, PXE, USL, FENY, PXJ, DWTI, DBE, DNO, PSCE, RJN, RYE, SZO, FXN, OLO, JJE, DDG, ONG, RGRE, OLEM, TWTI, UBN
    | Nov. 28, 2014, 12:52 PM | 72 Comments
  • Nov. 24, 2014, 8:26 AM
    • "The market would question the credibility of OPEC and its influence on global oil markets if there was no [production] cut," says Daniel Bathe of Lupus Alpha Commodity Invest Fund, figuring Brent crude (NYSEARCA:BNO) - currently around $80 per barrel, could plunge all the way to $60 if there is no cut agreed to. Bathe puts the likelihood of a production cut at no more than 50%.
    • OPEC is meeting in Vienna this week.
    • Others suggest even a cut of 500K-1M barrels per day wouldn't be enough to end the bear market, though something higher than that amount might shock oil all the way back to $85.
    • Both Brent and WTI crude (NYSEARCA:USO) are lower by about 0.2% in morning action
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | Nov. 24, 2014, 8:26 AM | 14 Comments
  • Nov. 19, 2014, 11:05 AM
    • Crude oil inventories rose 2.6M barrels in the EIA's latest read vs. expectations for a decline of 800K, and a fall of 1.7M the previous week. WTI crude briefly tumbled down to about $74 per barrel, but has since regained its footing to trade higher on the session at $74.85.
    • Gasoline stocks rose 1.03M barrels vs. 1.8M last week, and distillates fell 2.1M barrels. vs a 2.8M fall last week.
    • USO +0.6%, UGA flat, UHN +0.3%
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | Nov. 19, 2014, 11:05 AM | 4 Comments
  • Nov. 17, 2014, 8:34 AM
    • In Texas last week to meet with portfolio managers, Goldman chief equity strategist David Kostin says most conversations "started and ended on the topic of oil."
    • "Although still stunned by the ferocity of the selloff," writes Kostin, "everyone we met was resigned to the idea that crude prices would remain low for several years. Although we met many Longhorn alumni, we met no energy bulls."
    • Kostin expects WTI crude at $75-$80 is the level at which U.S. shale producers will slow activity, and capex growth from oil companies - which has accounted for 1/3 of the S&P 500's capex over the last five years - will likely be flat in 2015.
    • WTI crude is lower by 0.9% today to $75.13 per barrel.
    • USO -1% premarket
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | Nov. 17, 2014, 8:34 AM | 5 Comments
  • Nov. 13, 2014, 3:20 PM
    | Nov. 13, 2014, 3:20 PM | 48 Comments
  • Nov. 13, 2014, 11:27 AM
    • The EIA reported a 1.7M barrel decline in crude stocks last week vs. a 500K gain the previous week, and expectations for an increase of 750K barrels.
    • Behind the decline was increased refinery usage, with crude runs rising by 267K barrels per day and refinery utilization rates up 170 basis points. Gasoline (UGA -1.3%) stocks rose by 1.8M barrels vs. expectations for 517K, and distillates (UHN +0.8%) fell by 2.8M barrels vs. expectations for 1.3M.
    • Nevertheless, WTI crude (USO -1.9%) carves out another multi-year low at $75.36 per barrel.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | Nov. 13, 2014, 11:27 AM | 1 Comment
  • Nov. 13, 2014, 7:11 AM
    • “Talk of a price war is a sign of misunderstanding — deliberate or otherwise — and has no basis in reality,” says Saudi oil minister Ali al-Naimi, in his first public comments in months as he tries to shoot down the chatter.
    • Meanwhile, at least one team of analysts - those at Commerzbank - interpreted his comments as saying Saudi Arabia would be perfectly happy if prices were to stabilize at these low levels.
    • In OPEC's monthly report, the group said crude production fell by 226.4K barrels per day in October to 30.25M - most of the drop was due to Saudi output falling to 9.6M barrels per day. Traders say this amount of production is still significantly above the amount needed to balance the market and thus further cuts will be necessary.
    • January Brent crude oil (NYSEARCA:BNO) is lower by 1% to $80.28, and December WTI crude (NYSEARCA:USO) is down 0.5% to $76.78.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | Nov. 13, 2014, 7:11 AM | 1 Comment
  • Nov. 5, 2014, 1:04 PM
    • Rumors of a pipeline explosion in Saudi Arabia had oil spiking earlier this morning, but in fact it was a fire during construction repairs that was quickly brought under control.
    • In other news, EIA data showed a build in crude inventories of just 460K barrels, well shy of last week's 2.1M gain, and expectations for a 2.2M barrel boost.
    • It adds up to a 1.5% gain in WTI crude to $78.33 per barrel - barely a blip on the major four-month downtrend for oil.
    • USO +1.6%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, OLEM, TWTI
    | Nov. 5, 2014, 1:04 PM | Comment!
  • Nov. 4, 2014, 9:43 AM
    • “News that Saudi has cut its asking price to customers in the U.S. suggests even the largest OPEC producer is now worried about its market share," says FOREX.com's Fawad Razaqzada. "This does not bode well for the future of the cartel."
    • It should be noted Saudi Arabia raised prices for other locations, including Asia after four consecutive monthly cuts.
    • Slowing economic activity is also at work as the EU Commission cut its forecast for European GDP growth, now expecting expansion of just 0.8%
    • WTI crude (NYSEARCA:USO) is down 2.25% to a 3-year low of $77.16 per barrel. As the U.S. moves into the heating season, heating oil (NYSEARCA:UHN) is near a four-year low of $2.45 per gallon. A trip around the mid-Atlantic shows gasoline (NYSEARCA:UGA) below $3 per gallon at the retail level for the first time in recent memory.
    • Inventory data from the API is due later today.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, TWTI, OLEM
    | Nov. 4, 2014, 9:43 AM | 3 Comments
  • Oct. 31, 2014, 6:26 PM
    • The average gallon of gasoline in the U.S. will cost less than $3 this weekend for the first time in nearly four years, with more than 60% of all U.S. stations selling gas for less than $3/gallon, according to AAA.
    • "We're going to continue going down, and by Thanksgiving I'm seeing $2.80 a gallon" before stabilizing into early 2015, oil analyst Andy Lipow tells CNBC, noting that gasoline futures are tumbling, which will be passed on to consumers over the next few weeks.
    • Lipow remains wary of a potential market surprise if Saudi Arabia decides to cut production, "since the market thinks that OPEC is going to do nothing."
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
    | Oct. 31, 2014, 6:26 PM | 17 Comments
  • Oct. 27, 2014, 7:49 AM
    • "We believe that OPEC will no longer act as the first-mover swing producer and that U.S. shale oil output will be called upon to fill this role,” says Goldman, cutting its 2015 Q1 oil price forecasts by $15 per barrel - WTI to $75, Brent to $85. "Our forecast also reflects the realization of a loss of pricing power by core-OPEC.”
    • The Goldman team believes OPEC's largest members - rather than responding to price declines by cutting production - are attempting to defend market share by reducing prices.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, CRUD, USL, UWTI, UHN, DNO, DWTI, SZO, OLO, OLEM
    • WTI crude is flat in morning action at $80.52.
    | Oct. 27, 2014, 7:49 AM | 3 Comments
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UGA Description
The United States Gasoline Fund LP (UGA) is an exchange traded security that is designed to track in percentage terms the movements of gasoline prices.
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