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The United States Gasoline ETF, LP (UGA)

- NYSEARCA
  • Fri, Jul. 31, 7:52 AM
    • According to Reuters, the value of merger and acquisition deals through July 30 was $436.4B, including 14 deals worth over $5B apiece. Although down from June's torrid pace of $546.8B, it still ranks as the seventh busiest month on record. Leading the pack was Teva's $40.5B purchase of Allergan's generic drugs business.
    • The top investment bank in terms of the total value of transactions was Goldman Sachs (NYSE:GS), involved in 35 deals worth $148.8B, including half of the top ten. JP Morgan (NYSE:JPM) was second with 30 deals worth $116.1B while Morgan Stanley (NYSE:MS) was third with 33 deals valued at $95.9B.
    • Global M&A so far this year is $2.64T, up 41% from last year. The action in the U.S. is up 66%.
    • Energy and healthcare are the leading sectors. There have been 1,557 deals in energy worth $407B. Healthcare is close behind with 1,577 deals worth $395B.
    • ETFs: UNG, USO, OIL, UGAZ, UCO, DGAZ, UWTI, BIB, SCO, BNO, BOIL, GAZ, DBO, DWTI, DTO, UGA, KOLD, USL, GRX, UNL, IRY, BIS, IXJ, DNO, BME, UHN, DBE, OLO, SZO, DCNG, GRN, RJN, FUE, OLEM, JJE, ONG, UBN
    | 1 Comment
  • Tue, Jul. 14, 3:10 PM
    • The conventional wisdom says the votes in Congress aren't there to block the administration's nuclear deal with Iran, but one could read the price action in oil as saying "not so fast." A vote on the deal likely won't happen until September, giving lawmakers the August recess to read the tea leaves back in their states and districts.
    • After initially tumbling on the deal's announcement WTI crude is now ahead by 1.4% to $52.91 per barrel - its highest price in a week - suggesting a gusher of backed up crude from Iran isn't about to hit the market.
    • Meanwhile, the Windward Iranian Floating Storage Indicator figures Iran has 50M barrels of black gold stored on ships in the Persian Gulf. That's up from 35M at the start of the year and about 20M one year ago.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM
    | 23 Comments
  • Tue, Jul. 7, 10:29 AM
    | 25 Comments
  • Mon, Jun. 29, 2:47 PM
    • WTI crude oil is lower by 2.25% to $58.30 per barrel, roughly matching its lowest price since May.
    • The move comes amid the panicky action in Europe, where the Stoxx 50 shed 4.25% after Greece closed its banks and stock market, and imposed capital controls. The U.S. averages are currently at session lows, all off in the area of 2%. USO -2.25%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 14 Comments
  • Tue, Jun. 9, 2:28 PM
    • So much for the decline in the rig count. According to the EIA, U.S. crude oil production hit about 9.6M barrels per day in May, its highest monthly level in 43 years. In May 2014, production was 8.4M barrels per day - at the time a 26-year high.
    • The all-time high of about 10M barrels per day was in the early 1970s.
    • As for the full year, the EIA boosts its estimate of average monthly production to 9.43M barrels per day from 9.19M. In 2016, the EIA sees production of 9.27M bpd vs. a previous estimate of 9.21M.
    • Oil is sharply lower on the news ... strike that ... black gold continues to move higher on the session, now up 3.6% to $60.26 per barrel.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 29 Comments
  • Fri, Jun. 5, 7:59 AM
    • As (apparently) expected, OPEC says it's leaving production unchanged at 30M barrels per day - deciding to take no action despite a glut of crude and weak prices.
    • While the decision to leave production unchanged is generally considered a green light for members to keep pumping as much oil as they'd like, crude is taking off to the upside amid the post-meeting press conference. WTI is higher by about $1 per barrel since the decision, now selling for $58.50.
    • Live blog at the WSJ
    • USO +0.15% premarket
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 18 Comments
  • Fri, May 29, 2:48 PM
    • WTI crude oil more than erases a week's worth of losses in the space of a few hours, closing the session up $2.61 per barrel, or 4.5% to $60.29.
    • As recently as yesterday afternoon, black gold was as low as $56.50 per barrel, and earlier today was still under $58.
    • Earlier this week, Ned Davis Research urged caution on oil itself and energy stocks, noting the exit of nearly $500M from the U.S. Oil Fund (USO +3.7%) this month, and $300M from the Energy Select SPDR (XLE -0.1%). At the same time, money has been flowing into bullish dollar ETFs.
    • "Investor flows are no longer supportive for energy ETFs. Valuations are not as compelling at this point either. … Seasonality is about to turn ugly for the energy sector. June is historically the worst month for XLE. And finally, while longer-term, the sector remains oversold, shorter-term trend evidence suggests caution for now," says NDR's Tony Welch.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, BNO, DBO, DWTI, ERY, DIG, DTO, UGA, DUG, BGR, USL, IYE, DNO, FENY, PXJ, FIF, UHN, OLO, SZO, RYE, FXN, TWTI, OLEM, DDG
    | 27 Comments
  • Fri, May 15, 10:08 AM
    • WTI crude oil has fallen more than $1 per barrel in the last hour or so, now lower by 2.1% on the session to $58.63 per barrel. Black gold had been as high as $62 earlier this week - its high for the year.
    • Earlier, industrial production was reported to have fallen in April amid sharp cuts in the oil patch, but that's old news, and a number of shops from Goldman to Blackstone are expecting crude to renew its downtrend.
    • USO -1.6%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 18 Comments
  • Wed, Apr. 29, 2:19 PM
    | 41 Comments
  • Tue, Apr. 28, 10:47 AM
    • Iran has fired on a U.S. cargo ship and directed it to Bandar Abbas port on the southern coast of the country, reports Al Arabiya News. The ship is believed to have as many as 34 U.S. sailors aboard.
    • Trading at about $56 per barrel not long ago, WTI crude oil is now up to $57.44.
    • USO +0.7%
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 3 Comments
  • Tue, Apr. 14, 1:00 PM
    • Outflows from four of the largest oil ETFs, including the biggest USO, hit $338M in the two weeks ended on April 8, according to Lipper. It's the first two-week outflow since September, and a big turnaround from early this year when bottom-fishers poured into the funds.
    • The exit comes as WTI crude oil has rebounded about $10 per barrel over the past month, with much of that bounce occurring during the last two weeks.
    • "[ETFs] have become a problem," says one oil economist, as the vehicles have allowed speculators to maybe dash the Middle East's hope of prices falling enough to dent non-OPEC output.
    • Oil is up by another 3.2% today, touching its highest price of the year.
    • ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM
    | 22 Comments
  • Tue, Apr. 7, 12:30 PM
    • After spending the overnight session and the early half of the day in the red following yesterday's surge upward, WTI crude oil has tuned sharply higher again in the last few minutes, now ahead 2.45% or $1.27 per barrel to $53.44 - the highest price in a month.
    • Black gold is up more than $6 per barrel since the last week's Iranian deal which theoretically should lead to lifted sanctions and a lot more oil on the market. Go figure.
    • Traders may be getting another tasty selling opportunity, says Goldman, arguing the declining U.S. rig count won't be enough to balance the market next year, and thus expecting prices to stay lower for longer.
    • Coming up after the close is the latest API inventory data, with the EIA releasing its estimate tomorrow morning.
    • USO +3.15%
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | 20 Comments
  • Fri, Mar. 27, 3:06 PM
    • Pick your excuse: A slowing in the decline of the U.S. drilling rig count, the crisis in Yemen not having a whole lot of impact, or the chance of a weekend U.S./Iran nuclear deal which would include the lifting of oil sanctions.
    • WTI crude oil (NYSEARCA:USO) is lower by 5.4% to $48.64 per barrel, erasing most of a gain this week which had it above $52 not much more than 24 hours ago.
    • ETFs: USO, OIL, UCO, SCO, BNO, UGA, DTO, DBO, UWTI, USL, DWTI, UHN, DNO, SZO, OLO, TWTI, OLEM
    | 35 Comments
  • Wed, Mar. 25, 2:42 PM
    | 33 Comments
  • Fri, Mar. 20, 9:29 AM
    | 64 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
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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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