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USO

The United States Oil ETF, LP

5/21/2013, 3:00 AM ET

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Tuesday, May 14, 4:50 AM Thanks to U.S. shale oil, demand for OPEC crude will remain largely unchanged over the next five years the IEA says in its semi-annual report. "Output growth from North America dominates the medium-term growth profile," the agency notes. By 2018, U.S. output should reach 11.9M barrels per day, 20% of the projected total of 59.3M barrels per day of non-OPEC supply. 3 Comments [Commodities]
Friday, May 10, 7:33 AM The stronger dollar has precious metals resuming their decline in force (or is the decline in precious metals strengthening the dollar), with gold (GLD) off 2.3% and silver (SLV) off 2.2%. Crude oil (USO) pulls back a bit from its recent big rally, -0.9% to $95.53. 106 Comments [Commodities, On the Move]
Thursday, May 9, 3:36 PM Apparently behind the mid-afternoon drop in the S&P 500 (SPY) (a not insignificant 10 points), the soaring dollar (UUP), and sinking commodities (GLD, USO) was the rumor of a Jon Hilsenrath article set to hit the WSJ claiming "tapering" of asset purchases is coming sooner rather than later. Thus far, nothing is up. 47 Comments
Thursday, May 9, 3:06 PM The dollar (UUP +1%) is soaring across the board (not just against the yen, where it's now spiked through ¥100 to ¥100.56). The greenback is threatening parity vs. the aussie (FXA -1.1%) for the first time since last summer, and the euro (FXE -1.1%), swissie (FXF -1.4%), loonie (FXC -0.5%), and pound (FXB -0.6%) are seeing sizable declines as well. Commodities? Red. Gold (GLD -1.1%), Silver (SLV -1.2%), Oil (USO -0.6%), Copper (JJC -0.8%). 5 Comments [Global & FX, Commodities, On the Move]
Monday, May 6, 8:31 AM The commodity boom (DBC) is over, writes Morgan Stanley global macro chief Ruchir Sharma, as massive overinvestment - mostly to feed China's voracious demand - comes online just at the time said demand becomes considerably less voracious. Not only are China and emerging markets in general slowing, but the countries are striving to become more efficient (USO) as well. "If historical pattern holds, we are now entering a long period of falling commodity prices, which could last two decades." 2 Comments [Commodities]
Monday, May 6, 6:53 AM Crude gets a boost from its favorite catalyst: geopolitical tension. Brent futures hit their highest levels in a month Monday after Israel steps up airstrikes on Syrian targets over the weekend. Expect the risk premium investors attach to oil to rise further in the coming weeks should rhetoric surrounding possible U.S. intervention heat up. Nymex crude jumped in early Asian trading as well. 1 Comment [Energy]
Thursday, May 2, 3:09 PM Nearly everyone's a winner today as it's not just stocks lit up bright green. Oil (USO +3.3%), gold (GLD +0.5%), silver (SLV +0.7%), and corn (CORN +1.8%), are all flying. Even bonds (TLT), which tumbled on the big dip in jobless claims, have returned back to flat. Notably lower is natural gas (UNG -6.3%), tumbling on an unexpected add to inventories and as spring finally seems to arrive in the States. 3 Comments [Commodities, On the Move]
Wednesday, May 1, 4:30 PM Nymex crude settled -2.6% at $91.03 after today's inventory report revealed crude stockpiles climbed to 6.696M barrels, a record high dating back to 1982 when the EIA began tracking the data. E&P equities took a beating, from higher-beta names such as QEP Resources (QEP -6.1%) to giants such as Exxon (XOM -1.6%) and Chevron (CVX -1.4%). (ETFs: USO, UCO, OIL, BNO) 12 Comments [Energy, U.S. Economy]
Wednesday, May 1, 10:41 AM Commodities are lit up bright red as weak economic data (here and in China) is a good excuse to end the bounce of the last few sessions. Gold (GLD -1.8%), Silver (SLV -3.6%), WTI Crude (USO -2.6%). Copper (JJC -3.3%) moves to its lowest level in about 18 months at $3.08/lb. The metal hasn't had a 2-handle since the start of 2011. Broad commodity gauge (DBC -1.8%). 5 Comments [Commodities, On the Move]
Friday, April 26, 4:24 PM The week's ETF movers - Gainers: TAN +14.6%. XHB +6.2%. OIL +5.5%. USO +5.5%. PHYS +4.4%.
ETF Losers: VXX -5.8%. GAZ -5.3%. UNG -4.5%. DBA -1.0%. EPI -0.4%. Comment! [On the Move]
Friday, April 26, 12:06 PM A sharp reversal in commodities over the last hour has brought the entire sector into the red. Gold (GLD -0.6%) - looking like it was set to challenge $1,500/oz. an hour ago - is back to $1,452/oz. Silver (SLV -2.3%). WTI crude (USO -1.2%) falls to $92.46. Copper (JJC -1.9%) dives back to $3.18/lb. 13 Comments [Commodities, On the Move]
Thursday, April 18, 10:32 AM One would expect lower crude inventories to result in higher prices, but that didn't happen yesterday as WTI slid below $87. Walter Kurtz's four possible reasons to explain crude's downside moves: weaker than expected growth in China has sparked a negative sentiment in commodity markets; hedge funds unwinding positions; lower U.S. demand for gasoline; North American production continues to surprise. 2 Comments [Commodities]
Monday, April 15, 11:57 AM It's not as bad as gold, but crude oil is taking a beating too as weaker-than-anticipated economic reports from China deepen demand worries. Goldman Sachs says it has closed its long position in Brent crude with a loss of ~15%, worried prices will come under more pressure as European refining capacity comes back online after routine maintenance. WTI -2.9% to $88.59, Brent -2.6% to $100.45. Comment! [Energy, Global & FX]
Monday, April 15, 6:57 AM S&P 500 (SPY) futures -0.5%, Nasdaq 100 (QQQ) -0.4% as the liquidation in precious metals continues. Other sensitive commodities: WTI crude (USO) -2.5% to $88.76, and copper (JJC) -3.4% to $3.23. 6 Comments [On the Move]
Monday, April 15, 4:49 AM China's GDP miss and disappointing industrial production data are sending global equity markets lower, as well as copper and oil, which is also suffering from the IEA slightly cutting its demand outlook last week. Japan -1.6%, Hong Kong -1.4%, China -1.1%, India +0.6%. EU Stoxx 50 -0.2%, London -1%, Paris -0.8%, Frankfurt -0.8%, Milan -0.2%, Madrid -0.4%. Oil -2.4%, copper -1.5%. 1 Comment [Global & FX, Top Stories, On the Move, Energy]
Friday, April 12, 10:52 AM A slide in commodity prices turns into a rout: GLD -3.2%, SLV -4.2%, USO -3%, Copper (JJC) -2.2%. At $1,506/oz., gold is threatening a $1,400 handle for the first time in nearly 2 years. After an early bounce, stocks move to session lows, the S&P 500 -0.7%. The long bond gains three-quarters of a full point, its yield down to a 2013 low of 2.93%. Update at 11:05: Now off 4.3%, gold slips below $1,500. 54 Comments [Commodities, On the Move]

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