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The United States Oil ETF, LP (USO)

  • May. 9, 2012, 10:13 AM
    Crude oil looks headed for a sixth straight losing session, as WTI -1.3% to $95.64/bbl and following other commodities lower. “A further flow of negative sentiment towards Europe, and specifically Spain, is seeing general markets turning lower once again as a flight... from risk is underway,” a Summit Energy analyst writes. Energy stocks (XLE -1.8%) again take a licking.
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  • May. 8, 2012, 10:09 AM
    West Texas crude -1.4% to $96.56/bbl after Saudi Arabia's oil minister says crude prices are still too high. Saudi is storing as much as 80M barrels and has 2.5M bpd of spare capacity, Ali al-Naimi says; the kingdom is pumping 10M bpd, near the fastest rate in at least 31 years. Energy stocks (XLE -1.3%), a drag in recent sessions, are down again.
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  • May. 7, 2012, 10:35 AM
    Benchmark crude oil prices could drop by another $7-$10/bbl in the next few weeks as "economic data out over the last week has further confirmed we likely have not seen the worst of the situation in Europe and the recovery in the U.S. is tepid at best," according to one commodities pro. But expectations that the weaker economic outlook may build the case for more stimulus could limit any move lower.
  • May. 4, 2012, 12:24 PM
    The UAE completes and expects to have operational within 90 days a pipeline which will allow it to bypass the Strait of Hormuz for its oil exports. The pipeline offers a key alternative route in the face of Iranian threats to block the Strait. USO -4.4%.
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  • May. 4, 2012, 10:54 AM
    A sharp decline turns into a free-fall, WTI crude at $97.90/barrel, now more than $8 cheaper than it was about 72 hours ago. USO -4.3%. Previously moving solidly higher, gold reverses to turn slightly red at $1,634/oz. GLD -0.2%.
  • May. 4, 2012, 9:26 AM
    WTI crude drops into double-digits for the first time in 3 months, touching $99.92/barrel. USO -2.4% premarket. (earlier)
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  • May. 4, 2012, 7:59 AM
    Crude oil continues its big late-week slide, -1.6% to $100.90/barrel. The price stood at $106.30 less than 72 hours ago. The steep decline coincides with a strong move higher in the greenback. Coincidence?
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  • May. 2, 2012, 10:31 AM
    Byron Wien's short-term outlook aside, Bernstein examines upstream costs for 50 top oil producers and determines that "the era of cheap oil is over." Marginal costs for the 50 rose to $92/bbl in 2011, up 11% Y/Y, and could near $100/bbl this year - important, Bernstein says, because the cost of producing marginal barrels of oil plays a big role in determining oil prices.
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  • May. 2, 2012, 10:19 AM
    Byron Wien has been making forecasts for 25 years, and he's predicting a Y/Y drop in oil prices for the first time ever as swelling production pushes global inventories higher. There’s a “lack of appreciation” of how much oil will be extracted from fracking of rock formations in the U.S., Wien says, also expecting the furor over a potential conflict with Iran to dissipate.
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  • May. 1, 2012, 3:11 PM
    Better-than-expected expansion in U.S. manufacturing gets credit for today's energy rally, as Nymex crude rose 1.2% to settle at $106.16/barrel and natural gas jumped 3.8% to end at $2.37MM btu, both highest since late March. Upside earnings surprises from MPC, VLO and APC help make them leaders among energy-related issues.
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  • Apr. 30, 2012, 11:29 AM
    Ed Yardeni thinks the rally in crude oil is running out of gas, and stable prices should reduce inflationary pressures around the world, "especially important in emerging economies since fuel costs account for larger shares of budgets than in developed economies. This would allow the central banks in China, India, and Brazil to continue to ease their monetary policies.”
  • Apr. 30, 2012, 10:35 AM
    Prospects dim that major oil consumers will drive down prices this summer by collectively making a large injection into the market from emergency oil stockpiles. "Hollande will withdraw support from the U.S.-British plan to release strategic oil stocks if he beats President Nicolas Sarkozy," which would essentially end the prospect of a coordinated plan, KBC Energy Economics predicts.
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  • Apr. 30, 2012, 7:38 AM
    The number of rigs drilling for natural gas in the U.S. falls to 613, the lowest level in 10 years as low prices force producers to cut back. Perhaps anticipating slowed production, gas prices last week pulled back from their free fall. The number of rigs drilling for oil was off a hair, but remains near a 25-year high.
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  • Apr. 27, 2012, 12:11 PM
    It’s not quite time to jump into an oil fund, but once the time comes, a tracker of Europe’s benchmark Brent crude may be the better bet, Ned Davis Research says. Since the European benchmark’s losses have been steeper, the firm recommends the U.S. Brent Oil Fund (ETF: BNO) vs. popular trackers of U.S. WTI such as DBO, OIL and USO.
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  • Apr. 25, 2012, 11:24 AM
    Why is Saudi Arabia pumping oil at the highest rate in nearly 30 years just to put the crude into storage? One theory is that the Saudis are worried about tensions between Iran and the West escalating; another is that they are preparing for peak power demand in the summer. But neither quite address the fundamental reality: Stockpiling in a high-price environment is counterintuitive.
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  • Apr. 25, 2012, 10:54 AM
    WTI crude gives up its gains, now -0.4% to $103.17 following a stronger-than-expected build in inventories. Products saw unexpected drawdowns, but gasoline is still lower, UGA -1.2%.
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USO Description
The United States Oil Fund, LP ("USO") is a domestic exchange traded security designed to track the movements of light, sweet crude oil ("West Texas Intermediate").
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