USCF logo

Weekly Commodities ETF Report: Crude Sinks on Oversupply Worries; Gold Takes a Hit, Commodities Rise on Progress in US-China Trade Spat

(MT Newswires) – Crude ended both Friday’s session and the week lower amid worries about a glut of supplies. The International Energy Agency warned of a surge in production from countries that are outside the Organization of the Petroleum Exporting Countries (OPEC), saying a “significant surplus” in 2020 will pile pressure on oil prices. The agency said Thursday that output was growing “strongly” on an annual basis, rising this year by 1.25 million barrels per day, with 1 million barrels per day of growth set to come in 2020. Back home, stockpiles of crude fell by 6.9 million barrels from the previous week to 416.1 million and are about 2% below the five-year average for this time of year. A week ago, the inventories were down by 4.8 million barrels, according to data from the Energy Information Administration. The result was in between expectations, with the American Petroleum Institute looking for a draw of about 7.2 million barrels, according to reports, while the analysts surveyed by S&P Global Platts were expecting a decline of 3.6 million barrels. Also, the number of oil rigs operating the US fell to the lowest level in almost two years for the week. The crude equipment tally dropped by five to 733 in the week through Friday, the fourth straight weekly decrease and resulting in the fewest working since the week ended Nov. 3, 2017, data from Houston-based energy services firm Baker Hughes (BHGE) showed. A year ago, there were 867 oil rigs operating.

Light, sweet crude oil for October delivery fell 3.17% for the week, settling at $55.09 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.45% over the last five days and settled at $1.55 per gallon on Friday. Natural gas was up 5.30% on the week, ending Friday at $2.57 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 0.35% this week, compared with an increase of 0.16% in the prior week.

Gold fell below the psychological $1,500 per ounce mark during the week, slipping 1.27% and closing Friday’s session at $1,507.40 as positive developments in the protracted trade dispute between the US and China helped boost market sentiment.  US President Donald Trump moved the effective date of tariffs on $250 billion of Chinese exports to the US to Oct. 15, at the request of Chinese Vice Premier Liu He. Trump said on Twitter that the delay is a “gesture of goodwill” as China is set to celebrate its 70th anniversary on Oct. 1. Additional tariffs of 25% to 30% were supposed to take effect Oct. 1. China, for its part, is encouraging its companies to buy US pork and other farm products. Also, expectations of an interest-rate cut in the US were emboldened following the European Central Bank’s decision to restart its quantitative easing program. Meanwhile, copper was in positive territory, ending the week up 2.66% and closed Friday at a settlement price of $2.64 — the highest in more than a month. Gains came on the back of spot demand during the week, as well as the positive reaction to the progress in the Sino-US trade war, sparking some cautious expectations that this will eventually increase demand for industrial metals.

In agricultural commodities news, Chinese companies have started to inquire about prices of farm products from the US, according to a Friday report on Reuters, citing a Chinese Ministry of Commerce spokesman. The potential purchases include pork and soybeans. The move is part of the concessions that both the US and China are implementing in order to move along their trade negotiations, with the next face-to-face meeting between negotiators set in October. An earlier Reuters report said Chinese private firms already made orders for more than 600,000 tonnes of soybeans from the US, which are due to be shipped out between October and December. This is the largest order from China since June 2018.  Soybeans were up 4.75% for the week and closed Friday at $8.99 per bushel.  Among other grains, corn for December delivery jumped 3.87% in the week and settled at $3.69 per bushel in Friday’s session; and wheat rose 4.38% higher and settled at $4.84 per bushel at the end of Friday’s session. Other commodities were also higher: coffee was around $1.03 per pound at Friday’s close, up 5.78% for the week; cocoa was up 2.33% for the week and closed Friday’s session at $2,337 per tonne; and sugar had a weekly increase of 8.45% and settled at a price of $0.12 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002046 Ex. 10/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Ends Week Higher Despite Jump in OPEC Output; Progress in US-China Trade War Deflates Safe-Haven Buying in Gold

(MT Newswires) – Crude ended both Friday’s session and the week higher as a decline in the US oil rig count and crude inventories overshadowed the results of a closely watched survey of the Organization of the Petroleum Exporting Countries’ (OPEC) output.  The latest S&P Global Platts survey showed that the average daily output from OPEC increased by 50,000 barrels per day to 29.93 million barrels per day in August. With this rise in output, OPEC’s overall compliance fell to 103% among the 11 members with output caps, from 117% in July, according to the Platts calculations. The increase in the 14-member cartel’s output reflected Iraq, OPEC’s second-largest oil producer, reaching its highest-ever production count in August, with an output of 4.88 million barrels per day. The output in August was, however, 930,000 barrels per day lower than the average production in January, which is consistent with OPEC’s policy of cutting 1.2 million barrels per day of output to help stabilize the global energy market. While OPEC pushed up production last month, the US oil rig count fell for eight weeks over the past 10. Data compiled by Baker Hughes (BHGE) showed the number of oil rigs operating in the US fell by four to 738 during the week that ended Sept. 6, the lowest level since November 2017. The combined oil and gas rig count in the US dropped by six to 898 as gas rigs fell by two to 160. Along with rig counts, the US crude inventory also contracted more than expected. On Wednesday, the Energy Information Administration said its weekly crude inventory count fell by 4.7 million barrels — higher than expectations for 4 million barrels, according to Bloomberg data. It also compares with the 401,000-barrel increase in crude supplies reported by the American Petroleum Institute earlier in the week.

Light, sweet crude oil for October delivery rose 2.54% for the week, settling at $56.30 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.99% over the last five days and settled at $1.55 per gallon on Friday. Natural gas jumped 9.21% this week, ending Friday at $2.44 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) increased 0.16% this week, compared with an increase of 1.66% in the prior week.

Gold rose to touch a six-year high earlier in the week due to safe-haven buying, with investors concerned over trade tensions between the US and China, as the latest round of tariff increases between the two countries took effect on Sept. 1. China had also announced that it filed a case with the World Trade Organization against the US concerning those additional tariffs. However, by the end of the week, gold had lost much of its safe-haven luster after the chief trade negotiators for both sides scheduled economic and trade consultations for early October.  In a phone conversation between Chinese Vice Premier Liu He and US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, both countries agreed to what will be the 13th round of high-level trade negotiations between the two countries. The yellow metal finished Friday’s session edging lower, settling at $1,525.50 to end the week down 0.99%.  Meanwhile, copper also started off the week higher following China’s announcements about stimulus measures that would help support its slowing economy, including increases in its infrastructure spending, which in turn could eventually boost demand for copper. Gains for the red metal continued throughout the next five days as trade negotiations between the US and China were set to resume by next month. Copper ended the week up 2.76% and closed Friday at a settlement price of $2.64.

In agricultural commodities, soybeans gave up gains stemming from the thaw in the US-China trade dispute following news of increased supplies both in the US and around the world. Forecasts for large harvests in South America, coupled with weak export demand, also weighed on prices. Soybeans were down 1.27% for the week, and closed Friday at $8.58 per bushel.  Among other grains, corn for September delivery fell 3.66% in the week and settled at $3.56 per bushel in Friday’s session; and wheat inched 0.27% higher and settled at $4.64 per bushel at the end of Friday’s session. Other commodities were also mixed: coffee was around $0.97 per pound at Friday’s close, up 0.31% for the week; cocoa was up 2.62% for the week and closed Friday’s session at $2,277 per tonne; and sugar had a weekly decline of 1.43% and settled at a price of $0.11 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER 

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002041 Ex. 10/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Trims Weekly Gains on Lower Production Cuts From Russia; Gold Ends August at Six-Year High

(MT Newswires) – Crude ended Friday’s session higher but trimmed its gains for the whole week, following news that Russia will reduce its crude output by a lower-than-agreed-upon volume under its deal with the Organization of the Petroleum Exporting Countries (OPEC).  For its part, OPEC’s own plans to continue with its production curbs to support crude prices have been undermined. A survey by Reuters has shown that crude production by OPEC member countries and the group’s allies rose in August, despite the organization renewing its commitment to curb output back in July. Higher supply from Iraq and Nigeria offset the reduced exports from Saudi Arabia, as well as from sanction-hit Iran. Back home, US inventories of crude decreased by 10 million barrels through Aug. 23 to 427.8 million barrels, meeting the five-year average for this time of year, according to data from the Energy Information Administration. That was narrower than the 11.1 million barrels projected by the American Petroleum Institute late Tuesday but was bigger than the draw of 2.7 million barrels posed the previous week.  Finally, the number of oil rigs operating in the US for the week dropped to the lowest since early January of last year.  Data from Houston-based Baker Hughes (BHGE), an oil-field services company, showed the US oil-rig tally dropped 12 on the week to 742. A year ago, the count was 862.  The week’s print was the lowest since another tally of 742 was reported in the week ended Jan. 5, 2018.

Light, sweet crude oil for October delivery rose 2.04% for the week, settling at $56.71 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 0.07% over the five-day period and settled at $1.57 per gallon on Friday. Natural gas logged an increase of 5.60% for the week, ending Friday at $2.30 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.66% for the week, compared with an increase of 0.07% in the prior week.

Gold finished Friday’s session edging lower, settling at $1,536.90 to end the week down 0.31%. However, the yellow metal closed the month of August in positive territory — the fourth straight month of gains — hitting a six-year high earlier in the week. Lower interest rates from different countries’ central banks and uncertainty surrounding the ongoing trade spat between the US and China, as well as negative yields of treasury notes, have helped boost gold’s safe-haven appeal. Meanwhile, copper inched 1.11% higher during the week, despite weak global cues, with the red metal closing Friday at a settlement price of $2.58. Again, the slowdown in manufacturing around the world and a weaker yuan has been weighing on the industrial metal’s prices. But positive developments in the protracted Sino-American trade war helped lift prices somewhat. Last week, China softened its trade stance and said it is willing to renew trade negotiations with the US and resolve the dispute with a “calm attitude.”

In agricultural commodities news, corn ended Friday and the week higher but saw its biggest monthly decline in four years, as farms in the American Midwest are seeing excellent weather that has helped crop development. This has, in turn, led to forecasts for higher crop yields. The International Grains Council boosted its outlook for global corn production in the 2019/2020 season by 8 million tonnes to 1.1 billion tonnes. Among grains, corn for September delivery inched 0.54% higher in the week and settled at $3.70 per bushel in Friday’s session; soybeans were up 1.58% for the week, and closed Friday  at $8.69 per bushel; and wheat fell 3.30% and settled at $4.63 per bushel at the end of Friday’s session. Other commodities were mixed: coffee was around $0.97 per pound at Friday’s close, up 1.47% for the week; cocoa was down 0.58% for the week and closed Friday’s session at $2,222 per tonne, and sugar had a weekly decline of 2.62% and settled at a price of $0.11 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: s USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002035 Ex. 10/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Careens Lower, Gold Makes Modest Gains Following China’s New Tariff Threat, Uncertainty Over Fed’s Interest Rate Path

(MT Newswires) – Crude ended both Friday’s session and the week lower, amid a backdrop of trade war fears, and general risk-off conditions. China had unveiled retaliatory tariffs against the US, saying that it is going to impose tariffs ranging from 5% to 10% on $75 billion of US goods in two batches, effective from Sept. 1 and Dec. 15. The Chinese State Council added it will resume duties on American autos, which will include a 25% tariff on US cars and a 5% tariff on auto parts, effective Dec.15.  Also included in China’s list of goods subject to tariffs is US crude oil, which will get a 5% tariff. Following the announcement, US President Donald Trump had lashed out at Beijing and vowed a quick response to China’s plans for new tariffs while ordering American companies to leave the country. The blistering Twitter screed called into doubt chances for a quick resolution to the escalating trade war between the world’s economic superpowers, which by the end of the year will cover nearly all imports and exports exchanged between the two countries.

Meanwhile, US inventories of crude decreased by 2.7 million barrels to 437.8 million barrels through Aug. 16, the Energy Information Administration said on Wednesday. A week ago, the stockpiles rose by 1.6 million barrels and the draw was less than the American Petroleum Institute was reportedly predicting for a drop of 3.5 million barrels. The stockpiles are at about 2% above the five-year average for this time of year, down from 3% a week earlier, the government data showed. Finally, the number of oil rigs operating in the US for the week dropped to a 19-month low. Data from Houston-based Baker Hughes (BHGE), an oil-field services company, showed the US oil-rig tally dropped 16 this week to 754. A year ago, the count was 860. This week’s print was the lowest since 747 rigs were reported in the week ended Jan. 12, 2018.

Light, sweet crude oil for September delivery fell 1.88% for the week, settling at $55.35 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 7.92% over the last five days and settled at $1.55 per gallon on Friday. Natural gas logged a decrease of 1.91% for the week, ending Friday at $2.16 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 0.07% this week, compared with a decline of 1.56% in the prior week.

Gold finished Friday’s session edging higher, settling at $1,508.50 to end the week up 0.86 %. The yellow metal extended its gains as uncertainty over the Federal Reserve’s monetary policy drove most investors to safe-haven trading. Federal Reserve Chair Jerome Powell failed to offer hints of aggressive interest-rate cuts after his much-awaited speech at Jackson Hole, Wyo. He did not provide any clear clues on rates but reiterated the Fed will “act as appropriate to sustain the expansion,” and said the economy is in a “favorable place.” He also said the US faces “significant risks,” including Brexit and Hong Kong unrest, along with weakness in China and Germany. Conversely, copper prices ended the week down 2.30% and closed Friday at a settlement price of $2.56 as Powell’s comments and concerns over the worsening Sino-US trade war weighed on the red metal. A slowdown in China’s economic growth, as well as a weaker yuan, also dragged on the demand for copper.

In agricultural commodities news, an official from the US Department of Agriculture said Thursday that China had purchased only half of the US soybeans it had promised to import earlier this year. The report came a day before China announced its new tariffs, which will be imposed on US soybeans, lobsters, peanut butter and other imports. Specifically, the commodity will face a 5% tariff. Soybeans were down 2.73% for the week, and closed Friday in the red at $8.57 per bushel; corn for September delivery fell 3.67% in the week and settled at $3.68 per bushel in Friday’s session; and wheat inched 0.10% higher and settled at $4.78 per bushel at the end of Friday’s session. Other commodities were mixed: coffee was around $0.96 per pound at Friday’s close, down 1.14% for the week; cocoa was up 1.46% for the week and closed Friday’s session at $2,238 per tonne; and sugar had a weekly decline of 1.38% and settled at a price of $0.11 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002033 Ex. 10/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Closes Week Higher as OPEC Lowers 2019 Demand Forecast; Gold Hits Six-Year High on Safe-Haven Buying

(MT Newswires) – Crude ended both Friday’s session and the week higher, driven by oversupply concerns, following the decision of the Organization of the Petroleum Exporting Countries to lower its 2019 oil demand forecast. The cartel left 2020 demand forecasts unchanged but added it “is subject to downside risks stemming from uncertainties with regard to global economic development.” In geopolitical news, officials in Gibraltar have allowed a detained Iranian supertanker to leave despite a last-minute US attempt to seize the vessel. The Supreme Court in Gibraltar had delayed a decision to release the Grace 1 after the US Department of Justice made an application to extend the vessel’s detention, the Gibraltar government said earlier on Thursday. But the Gibraltar Chronicle reports there was no US application before the court when the hearing resumed on Thursday afternoon, so the vessel was allowed to leave. The Grace 1, carrying 2.1 million barrels of Iranian crude, was seized on July 4 in a British Royal Navy operation off Gibraltar. The vessel was suspected of violating EU sanctions on oil shipments to Syria. Meanwhile, US inventories of the hydrocarbon commodity rose by 1.58 million barrels to 440.5 million barrels during the seven days ended Aug. 9, according to data published by the Energy Information Administration on Wednesday.  That compares with forecasts by industry experts compiled by S&P Global Platts expecting a 2.8 million-barrel draw last week while the American Petroleum Institute Tuesday night reported a surprise inventory build of 3.7 million barrels. Finally, the number of oil rigs operating in the US rose for the first time in seven weeks.  Data from Houston-based Baker Hughes (BHGE), an oil-field services company, showed the US oil rig tally rose six this week to 770. A year ago, the count was 869.

Light, sweet crude oil for September delivery rose 1.09% for the week, settling at $54.47 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 0.57% over the last five days and settled at $1.64 per gallon on Friday. Natural gas logged an increase of 3.38% this week, ending Friday at $2.23 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.56% for the week, compared with an increase of 1.44% in the prior week.

Gold finished Friday’s session edging lower, settling at $1,531.20 but once again benefitted from the downbeat economic backdrop to end the week 1.05% higher, as most investors resorted to safe-haven buying. On Wednesday the precious metal hit a new six-year high. The surge in US Treasury bills by Thursday and Friday, which sent yields lower, also helped bolster gains for the yellow metal. Meanwhile, copper prices ended the week down 0.23% and closed Friday at a settlement price of $2.60; earlier in the week copper had touched its lowest price in more than two years, continuing to be weighed by traders’ worries over the slowdown in global growth (and consequently, demand for industrial metals) as well as the protracted trade war between the US and China.

In agricultural commodities news, China’s Ministry of Agriculture and Rural Affairs has trimmed its soybean import forecast by 1.5 million tons to 83.5 million tons for the 2018-19 crop year, which runs from October to September of the following year, according to a statement on Monday. China has been the biggest consumer of the crop and the US is its biggest supplier. Data from China’s General Administration of Customs showed that soybean imports in January to July went down 11.2% to 46.9 million tons amid the country’s trade war with the US. Soybeans were down 1.57% for the week, and closed Friday in the green at $8.80 per bushel; corn for September delivery fell 8.69% in the week and settled at $3.81 per bushel in Friday’s session; and wheat slumped 4.70% and settled at $4.78 per bushel at the end of Friday’s session. Other commodities were lower: coffee was around $0.96 per pound at Friday’s close, down 1.23% for the week; cocoa was down 2.70% for the week and closed Friday’s session at $2,187 per tonne; and sugar had a weekly decline of 2.19% and settled at a price of $0.12 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGAor CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002033 Ex. 10/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Ends Week in the Red as 2020 Oil Demand Outlook Worsens; Gold Logs Best Week in Two Months as Equities Slump

(MT Newswires) – Crude ended Friday’s session higher, supported by expectations of more output cuts from the Organization of the Petroleum Exporting Countries (OPEC) and its allies. Russia had said that it extended an output reduction deal with OPEC, while Saudi Arabia, the de facto leader of the organization, plans to maintain its crude oil exports below 7 million barrels per day (bpd) in August and September. However, crude ultimately ended the week lower, weighed by the report from the International Energy Agency (IEA) that demand growth for oil was at its lowest since 2008. The worsening of the trade relationship between the US and China led the IEA to cut its estimates for oil demand growth in 2019 and 2020 by 0.1 million barrels per day (mb/d) to 1.1 mb/d and 1.3 mb/d, respectively. The IEA said its revised outlook takes into account the International Monetary Fund’s recent lowering of the economic outlook, while noting the health of the global economy had become “even more uncertain.”  Meanwhile, US inventories of the hydrocarbon commodity rose by 2.4 million barrels to 438.9 million barrels in the week ended Aug. 2, according to data published by the Energy Information Administration on Wednesday.  This was a surprise gain, as the American Petroleum Institute had forecast a drop of 3.4 million barrels on Tuesday. It also contrasted with an 8.5 million-barrel decline in US inventories of crude oil seen the week earlier. Finally, the number of oil rigs operating in the US fell by six to 764 during the week that ended Aug. 9, the lowest level since Feb. 2, 2018, according to data compiled by energy services firm Baker Hughes (BHGE). The combined oil and gas rig count in the US was down by eight to 942 as gas rigs fell by two to 169.

Light, sweet crude oil for September delivery fell 1.40% for the week, settling at $52.54 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 5.77% over the last five days and settled at $1.65 per gallon on Friday. Natural gas logged a decrease of 0.84% this week, ending Friday at $2.13 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.44% this week, compared with a decline of 2.64% in the prior week.

Gold finished Friday’s session slightly weaker but managed to stay at $1,509.50 — above the psychologically important level of $1,500.  It also closed the week 3.89% higher — at its best level since a 4.14% rise on June 21, according to FactSet data. The yellow metal began the week in positive territory, benefitting from its safe-haven status as US equities saw their worst day of the year on Monday, following the worsening of the Sino-US trade war, when the benchmark indexes declined some 3%. Meanwhile, copper prices ended the week up 0.97% but closed Friday lower at $2.61 per pound. This was a modest comeback from Monday, when the red metal slumped to the lowest level since June 2017. The protracted trade war between China and the US has dampened demand and pushed prices ever lower for copper — which some analysts consider a barometer of the global economy because it is used in home and commercial construction.

Agriculture commodities, particularly grains, were higher ahead of the US Department of Agriculture (USDA) monthly supply and demand report, which will be released Aug. 12. Soybeans logged mild gains despite being pressured by trade war woes.  Earlier this week, China said it will stop ordering US farm goods — including soybeans — due to the 10% tariff hike the US will impose on $300 billion of Chinese exports in September. The East Asian country also said it may place tariffs on American farm products. Meanwhile, worries about the condition of US corn has helped support prices for the grain, following news of unfavorable weather conditions, especially flooding in the spring. These have led to the late planting of the corn crop. Among grains, soybeans were up 2.64% for the week, and closed Friday in the green at $8.92 per bushel; corn for September delivery rose 1.89% in the week and settled at $4.18 per bushel in Friday’s session; and wheat jumped 1.83% and settled at $5.00 per bushel at the end of Friday’s session. Other commodities were lower: coffee was around $0.97 per pound at Friday’s close, down 0.97 for the week; cocoa was down 2.55% for the week and closed Friday’s session at $2,242 per tonne; and sugar had a weekly decline of 1.08% and settled at a price of $0.12 per pound on Friday.

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002028 Ex. 9/30/2019

Get Live Briefs Pro on Your Platform

USCF logo

Weekly Commodities ETF Report: Crude, Agri Commodities Slump as US-Sino Trade War Sparks Anew; Gold Climbs to Six-Year High on Safe Haven Appeal

Crude ended Friday’s session higher, regaining ground after seeing its biggest one-day decline in more than four years, but ultimately ended the week in the red amid worsening trade relations between the world’s two largest economies.  Earlier this week, crude prices were on the uptick; according to Action Economics, expectations for a Federal Reserve rate cut on Wednesday have supported prices, with hopes that extra stimulus will bump up economic activity, and therefore oil demand. However, the positive sentiment following the Federal Reserve’s 25 basis-point rate cut collapsed after US President Donald Trump said Thursday that he is putting 10% tariffs on an additional $300 million of Chinese imports. The move has further dampened the outlook for global growth and sent markets in Europe and Asia lower.

Meanwhile, US inventories of the hydrocarbon commodity fell by more than expected last week.  Stockpiles of crude oil contracted by 8.5 million barrels to 436.5 million barrels in the week ended July 26, according to data published by the Energy Information Administration. This was a larger decline than the American Petroleum Institute’s projection, released on Tuesday, for a weekly drop of 6 million barrels but it was lower than the 10.8 million barrel decline seen the prior week. Finally, the number of oil rigs operating in the US fell by six to 770 during the week that ended Aug. 2, the lowest level since Feb. 2, 2018, according to data compiled by energy services firm Baker Hughes (BHGE).

Light, sweet crude oil for September delivery fell 1.55% for the week, settling at $53.95 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 2.92% during the week and settled at $1.75 per gallon on Friday. Natural gas decreased 0.70% this week, ending Friday at $2.20 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 2.64% this week, compared with a decline of 0.51% in the prior week.

Gold finished Friday’s session higher at $1,432.40, hitting fresh six-year highs as the U.S. dollar weakened and investors looked for a safe haven from weaker stock markets and economic turmoil as the United States expanded its trade war on China. The gains come a day after sharp losses for the yellow metal, which had been weighed earlier in the week by the Fed’s widely expected interest rate cut. The yellow metal closed the week in positive territory, up 2.43%. Meanwhile, copper prices ended the week down 4.59% and closed Friday lower — hovering near its lowest price for the year so far at $2.67 per pound, as renewed trade tensions weighed on industrial metals. Supply issues also resurfaced, following a Reuters report that said Chile’s state-run Codelco will further delay the reactivation of its smelter until the end of October this year. Sources told Reuters that the world’s top copper producer has missed the previous reactivation target of April.

Agriculture commodities were once again in focus as the renewed US-Sino trade war centered on China’s purchase of US agricultural products. On Thursday, a day after the two countries’ trade talks ended in Shanghai, China’s Ministry of Commerce said some Chinese companies have already applied to lift additional tariffs on U.S. produce. The ministry noted that the Customs Tariff Commission of the State Council is handling the applications. MOC spokesperson Gao Feng also said that state-owned and private companies have commenced deals to buy products like soybeans, cotton, pork and sorghum. However, by late Thursday Trump announced the additional tariffs on $300 billion worth of Chinese goods, claiming that China had pledged to increase purchases of US agricultural products, but did not. He also alleged Beijing reneged on a promise to stop the sale of Fentanyl to the US.

Among other grains, soybeans were down 3.25% for the week, but closed Friday in the green at $8.69 per bushel; corn for September delivery fell 3.48% in the week and settled at $4.10 per bushel in Friday’s session; and wheat dropped 1.01% and settled at $4.91 per bushel at the end of Friday’s session. Other commodities were mostly lower: coffee was around $0.98 per pound at Friday’s close, down 1.35% for the week; cocoa was down 3.14% for the week and closed Friday’s session at $2,320 per tonne; and sugar had a weekly increase of 0.17% and settled at a price of $0.12 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002028 Ex. 9/30/2019

Live Briefs Pro Global Markets

USCF logo

Crude Closes Week Higher on Middle East Tensions, Supply Issues; Gold Ends Lower as ECB Maintains Benchmark Rates

(MT Newswires) – Crude ended Friday’s session higher amid ongoing tensions in the Middle East, which are threatening the free flow of oil in the region. Iran and the UK are embroiled in a tense standoff over British authorities’ seizure of an Iranian tanker off Gibraltar in early July and Iran’s detention of a UK-flagged ship last week. Supply issues also came to the fore after Hurricane Barry caused some temporary disruptions earlier in the month.  Analysts are pointing to the Gulf of Mexico storm as one of the primary reasons for a decline in US crude inventories. Stockpiles dropped 10.8 million barrels in the week through July 19 to 445 million barrels, according to data published by the Energy Information Administration. That was a sharper fall than the decline of 3.1 million barrels in the previous week and the 11.0-million-barrel weekly stock draw reportedly expected by the American Petroleum Institute. Finally, the number of oil rigs operating in the US fell by three over the week to 776, according to data compiled by energy services firm Baker Hughes (BHGE). The week’s tally was the lowest since the 765 rigs reported in the week ended Feb. 2, 2018.

Light, sweet crude oil for September delivery rose 0.75% for the week, settling at $56.02 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.40% during the week and settled at $1.83 per gallon on Friday. Natural gas logged a decrease of 4.35% on the week, ending Friday at $2.23 per 1 million British thermal units.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.51% this week, compared with a drop of 2.36% in the prior week.

Gold finished Friday’s session higher at $1,414.70, recovering from Thursday’s sharp losses, but closed the week in negative territory, down 0.66%. Friday’s gains were spurred by the advanced Q2 Gross Domestic Product (GDP) report, which showed that the US economy slowed sequentially in the quarter, validating the Federal Reserve’s recent view that economic stimulus may be required to “sustain” the country’s economic expansion. On Thursday, the yellow metal saw a steep decline after the European Central Bank (ECB) decided to maintain interest rates at their current levels. Expectations had been for the ECB to cut benchmark rates ahead of the US Federal Reserve’s policy meeting next week. Meanwhile, copper prices ended the week down 1.86% and closed Friday lower at $2.70 per pound, even as the resumption of US-China trade talks helped brighten the economic outlook in the base metal markets. China and the US confirmed a two-day face-to-face meeting on July 30 in Shanghai, the first meeting since the leaders of the two countries agreed to a trade war ceasefire. In the planned negotiations, the US side will be led by Robert Lighthizer and Treasury Secretary Steven Mnuchin, while Vice Premier Liu He will head the other.

In agriculture commodities, European Union (EU) imports of US soybeans increased by almost 100% from July 2018 to June 2019, compared with the same period the previous year. The US is now Europe’s leading soybeans supplier and has been able to expand its market further, following the decision by the European Community (EC) in January to authorize the use of US soybeans for biofuels.  Soybeans were down 2.18% for the week, and closed Friday in the red at $9.01 per bushel. Among other grains, corn for September delivery fell 2.92% in the week and settled at $4.25 per bushel in Friday’s session; and wheat dropped 1.49% and settled at $4.96 per bushel at the end of Friday’s session. Other commodities were mixed: coffee was around $1 per pound at Friday’s close, down  6.86% for the week; cocoa was down 3.32% for the week and closed Friday’s session at $2,389 per tonne; and sugar had a weekly increase of 3.63% and settled at a price of $0.12 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:  USCIUSOUSLUSOUUSODBNOUNGUNL, UGAor CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002023 Ex. 9/30/2019

USCF logo

Weekly Commodities ETF Report: Crude Ends Week Down Most Since May on Weakening Demand, Middle East Tensions; Gold Boosted by Renewed Hopes for Interest Rate Cut

(MT Newswires) – Crude ended Friday’s session lower, with prices recording their biggest weekly decline since the end of May amid falling demand for oil and mounting geopolitical risks in the Middle East. According to the BBC, the owners of Stena Impero, which was bound for Saudi Arabia, said they are unable to contact the vessel, which is now understood to be heading toward Iran. CNBC reported that a spokesperson for the UK Ministry of Defense said that the government was urgently seeking further information and assessing the situation following reports of an incident in the Gulf. This comes a day after the US Navy “destroyed” an Iranian drone in the Strait of Hormuz after it came within 1,000 yards of the US ship. Iran however, denied having lost a drone on Thursday. On the same day, several media sources reported that the International Energy Agency’s (IEA) executive director Fatih Birol said the agency was revising down the global oil demand forecast to 1.1 million barrels per day, from 1.2 million barrels per day. Birol warned that the agency may be forced to further cut its outlook for demand if the global economy, especially China, shows further signs of weakness, according to Reuters.

Meanwhile, US crude stockpiles decreased for the fifth consecutive week, with the draw coming in sharper than expected. Commercial crude oil inventories fell 3.1 million barrels in the week through July 12 to 455.9 million and are about 4% above the five-year average for this time of year, data published by the Energy Information Administration showed. That compares with a decline of 9.5 million barrels a week earlier and is more than the 1.4 million-barrel decline reportedly expected by the American Petroleum Institute. Finally, the number of oil rigs operating in the US fell by five to 779 during the week that ended July 19, according to data compiled by energy services firm Baker Hughes (BHGE). The combined oil and gas rig count in the US was down by four to 954 as gas rigs were up by two to 174, while miscellaneous were down by one.

Light, sweet crude oil for August delivery fell 7.09% for the week, settling at $55.30 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 6.28% during the week and settled at $1.83 per gallon on Friday. Natural gas logged a decrease of 8.30% on the week, ending Friday at $2.29 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 2.36% during the week, compared with an increase of 1.48% in the prior week.

Gold finished Friday’s session lower at $1,428.10 but ultimately closed the week in positive territory, up 0.62%. The yellow metal benefitted from the recent dovish comments from New York Fed President John Williams, which sparked hopes for an interest-rate cut by the end of July.  Williams said in a speech Thursday that central banks should “act quickly” to cut rates when inflation and interest rates are low, but an economy is faltering. A New York Fed spokesperson later said Williams’ remarks were academic, not practical in nature. Meanwhile, copper prices ended the week up 1.91% and closed Friday higher at $2.71 per pound, following a report from the World Bureau of Metal Statistics that said the copper market had a surplus of 21,000 tonnes in the January to May period.  Meanwhile, June customs data from China showed that imports of commodities such as copper declined month over month, hinting at a further softening of demand. China reported that imports of unwrought copper fell 9.7% in June from May, and ores and concentrates sank 20.4%. Copper is widely used in manufacturing, especially in China’s export sector.

In agriculture commodities, China’s statistics bureau in a Monday release said planting area for soybeans increased in the first half, with expectations for the area to widen 8% in 2019 to 8.67 million hectares from last year. The country has been encouraging farmers to plant more soybeans, with the Ministry of Agriculture setting a goal of expanding soybean planting area to 140 million mu (mu a common measurement used in China: 1 MU is equal to 6.0703 acres) by 2020. With the government’s calls for this increase in soybean production, as well as the trade war between the US and China, market watchers expect that soybean imports will decline further this year. Data from China’s customs authority showed that the country’s soybean imports during the first half of 2019 have already fallen 14.7% year over year to 38.27 million tons.

Among grains, corn for September delivery fell 5.05% in the week and settled at $4.36 per bushel in Friday’s session; wheat rose 3.77% and settled at $5.03 per bushel at the end of Friday’s session; and soybeans were down 1.32% for the week, and closed Friday in the red at $9.19 per bushel. Other commodities were mixed: coffee was around $1.07 per pound at Friday’s close, up 0.52% for the week; cocoa was down 1.00% for the week and closed Friday’s session at $2,467 per tonne; and sugar had a weekly decline of 5.85% and settled at a price of $1.16 per pound on Friday.

Copyright © 2019 MT Newswires, www.mtnewswires.com

nformation Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation there under.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002009 Ex. 9/30/2019

Get Live Briefs Pro

USCF logo

Weekly Commodities ETF Report: Crude Ends Week Higher as Middle East Tensions Spark Anew; Gold Surges Higher on Hopes of Interest Rate Cut

(MT Newswires) – Crude ended Friday’s session higher and closed the week in positive territory; within the past five days, it also touched the highest level in six weeks. Prices had risen amid renewed geopolitical tensions in the Strait of Hormuz, following a report that the Royal Navy in the UK prevented an alleged attempt by Iran to seize a tanker near the Strait of Hormuz, off the southern coast of Iran. The risk of attack on tankers in the region is now deemed “critical.” To compound matters, Iran is threatening to further increase uranium production, after having breached a level that it had agreed to stay within under the now-defunct Iran Nuclear Accord. Oil prices also got a lift this week after producers and shippers trained their focus on the weather — given that the US hurricane season is getting underway — as a tropical storm threatened oil installations in the Gulf of Mexico. US inventory data was also supportive of oil prices this week. US inventories of crude oil plunged by 9.5 million barrels over a week to July 5, data published by the Energy Information Administration showed. This was steeper than the 3.1 million-barrel slump forecast in a Reuters’ survey of analysts and the 8.1 million-barrel drop projected by the American Petroleum Institute. Meanwhile, the International Energy Agency said in a report Friday that first-half oil supply exceeded demand by 0.9 million barrels per day. Its latest data showed a global surplus in Q2 of 0.5 million barrels per day, versus previous expectations of a deficit of the same level. Finally, energy services firm Baker Hughes (BHGE) said active US rigs drilling for oil fell by four this week to 784. A year ago, the count was 863. This week’s tally was the lowest since the 765 rigs reported in the week ended Feb. 2, 2018.

Light, sweet crude oil for August delivery rose 4.37% for the week, settling at $60.20 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.07% during the week and settled at $1.99 per gallon on Friday. Natural gas logged an increase of 2.42% this week, ending Friday at $2.42 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.48% this week, compared with a decline of 0.77% the prior week.

Gold finished Friday’s session higher at $1,406.70, ending the week up 1.07% and continued to be driven by monetary policy news. Federal Reserve Chair Jerome Powell’s testimony in front of Congress and the Senate during the week reaffirmed expectations for a rate cut at the end of the month. Powell gave the market no reason to expect anything less than a 25-basis-point rate cut at the July 30 – 31 meeting. He said the Federal Open Market Committee is concerned about trade tensions and slowing global growth, and that some “weak inflation will be even more persistent.” Meanwhile, industrial metals remained under pressure amid a lack of any supportive fundamentals, and copper prices logged losses throughout the week as the global growth outlook kept investors’ interest lackluster. In addition, the latest trade data out of China showed that the country’s exports declined 1.3% in June while imports showed a larger drop of 7.3%. Expectations had been for exports to fall 1.4% and imports to decline 4.6%, according to Bloomberg’s estimates. Analysts now expect that, following the downbeat trade data, demand for commodities will continue to be weak. However, the red metal managed to end the week 1.13% higher at $2.69 per pound.

The impact of the US-China trade war came to the fore this week after US President Donald Trump said in a tweet that China is letting the US down as the East Asian country is not fulfilling its promise of increasing its imports of agricultural products. According to a report on Bloomberg, Trump said that Chinese President Xi Jinping agreed to buy big volumes of US farm products after the two leaders reached a deal to restart the trade talks. Trump also agreed to the suspension of tariffs on an additional $300 billion of Chinese exports, the report noted. However, data released Thursday showed otherwise as US exports to China of soybeans decreased from the previous week to 127,000 metric tons, while pork orders went down to 79 tons from 10,400 tons in June. A spokesman for the Chinese Ministry of Commerce Gao Feng on Thursday did not confirm if China indeed agreed to buy US farm products as part of the two leaders’ agreement in the G20 summit in Osaka. An article on state-run Xinhua News Agency only mentioned that Trump hoped for China to boost its orders of US goods. In his tweet, Trump said he hopes China would begin buying US agriculture products.

Among grains, corn for December delivery rose 4.07% in the week and settled at $4.59 per bushel in Friday’s session; wheat rose 1.26% and settled at $5.23 per bushel at the end of Friday’s session; and soybeans were up 4.25% for the week, and closed Friday in the red at $9.32 per bushel. Other commodities were mixed: coffee was around $1.07 per pound at Friday’s close, down 3.57% for the week; cocoa was up 1.38% for the week and closed Friday’s session at $2,503 per tonne; and sugar had a weekly decline of 0.32% and settled at a price of $1.23 per pound on Friday.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002009 Ex. 9/30/2019