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Weekly Commodities ETF Report: Crude Continues Slump as Lockdowns Around the World Weigh on Demand; Gold Ends Higher on Stimulus Measures

(MT Newswires) – Oil prices fell on Friday as lockdowns to check the spread of COVID-19 continue to cut demand for fuel. The US and other industrialized nations ordered large sections of their economies to be shut down to slow the respiratory disease. The death toll and infections worldwide have more than doubled in the past week, according to data from Johns Hopkins University. On Friday, the data showed more than 26,800 people have died and more than 585,000 have been infected since the coronavirus that causes the disease emerged from China late last year. The House of Representatives on Friday passed a $2 trillion relief bill that will provide payments and loans to workers and businesses in the US that have been hit hard by the pandemic. The Senate approved the measure on Wednesday, and Trump is expected to sign the bill into law immediately.

The ongoing price war between Saudi Arabia and Russia has also weighed on the commodity, with the latter refusing to agree to production cuts that the kingdom and the Organization of the Petroleum Exporting Countries have been seeking in response to declining global demand due to COVID-19.

Meanwhile, Fatih Birol, head of the International Energy Agency said oil use could be down by as much as 20% because of the quarantines and travel restrictions. “Birol announced (Thursday) that oil demand could decline by as much as 20 million barrels per day, or 20%, this year given that three billion people around the world are locked down. Then there is OPEC’s price war with the other oil producers, with Saudi Arabia and its allies already intending to raise their production by over 3 million barrels per day in April. Birol therefore called upon Saudi Arabia not to increase production any further and to help stabilize the oil market,” Eugen Weinberg, Commerzbank’s head of commodity research, said in a note.

On Wednesday, the US Energy Information Administration (EIA) said that crude stockpiles surged by 1.6 million barrels over a week to March 20. That compares with a forecast for a 2.8 million-barrel jump in a Reuters’ poll of analysts. And separately, the count for oil in the US fell by 40 rigs to 624 in the week through Friday, the lowest since the week ended March 10, 2017, according to data compiled by energy-services firm Baker Hughes (BKR). A year ago, the US had 816 oil rigs in operation.

Light, sweet crude oil for May delivery rose 8.77% for the week but settled down at $22.60 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 0.88% over the five-day period and settled at $0.60 per gallon on Friday. Natural gas ended the week up 5.90%, settling at $1.69 per 1 million British thermal unit at the end of Friday’s session.

The SummerHaven Dynamic Commodity Total Return Index (SDCITR) rose 3.64% on the week, compared with a decrease of 0.21% in the prior week.

Gold prices fell along with stocks on Friday, settling at a price of $1,651.20, even as the US dollar weakened, following news that the House of Representatives voted to approve a $2 trillion stimulus package. The stimulus “will massively increase the US national debt,” Commerzbank analyst Carsten Fritsch said in a research note. “In addition, there are the unlimited bond purchases by the US Federal Reserve. All these measures will result in a surge in the supply of US dollars, which is effectively a debasement of paper currencies. It is obvious that gold – an alternative currency that cannot be reproduced at will – will profit from this unprecedented orgy of money-printing, even if it experiences some short-term price fluctuations.” Ultimately,  the yellow metal ended the week higher, up 8.23%.

Copper ended Friday’s session slightly lower, with a settlement price of $2.18, while gaining 0.79% for the week, as traders were cautiously optimistic following several stimulus initiatives from major countries in response to the COVID-19 pandemic. Gains were dampened, however, by lockdowns around the world, which are expected to impact the red metal’s demand forecast.

In agricultural commodities, soybean futures closed the Friday session higher at $8.82 per bushel, up 2.35% for the week. The higher prices were brought on by worries that production will slow down due to the new coronavirus outbreak. Among other grains, wheat futures ended this week up 6.02%, closing the Friday session at a price of $5.71 per bushel; and corn futures were up 0.95% for the week, settling at a price of $3.46 per bushel on Friday.

Other agricultural commodities were mixed: sugar had a weekly increase of 1.83% and settled at a price of $0.11 per pound on Friday; coffee was around $1.16 per pound at Friday’s close, down 3.13% for the week; and cocoa was up 1.90% for the week and closed Friday’s session at $2,257 per tonne.

 

 

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

USO002158 Ex. 6/30/200

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Weekly Commodities ETF Report: Crude, Gold End Week Lower as Coronavirus Worries Continue; Wheat Hits Biggest Weekly Gain in Nine Months

(MT Newswires) – Crude oil prices slumped on Friday, extending declines this month to more than 50%, after Russia reportedly turned down US President Donald Trump’s offer to help resolve a price war with Saudi Arabia. Shrugging off the verbal intervention by President Trump, Russia views “Saudi Arabia’s behavior as ‘blackmail’ and refuses to yield to it,” according to a research note put out by Commerzbank on Friday. “As yet, there is no sign of any movement on the part of Saudi Arabia and Russia,” Commerzbank analysts led by Daniel Briesemann wrote in the note. “The oil market remains characterized by extreme volatility.”

Oil was also lower due in part to an increase in restrictions on movement and activities of people in Europe and the US, with Gov. Andrew Cuomo ordering all non-essential New York workers to stay at home. British Prime Minister Boris John also set out on Friday lockdown measures in London by telling cafes, pubs, and restaurants to close to avoid further spread of the COVID-19 pandemic, a principal source of the fall in demand for oil.

Meanwhile, a report from the Wall Street Journal on Thursday said that Texas regulators were considering curtailing oil production in America’s largest oil-producing state. Several oil executives are said to have reached out to members of the Texas Railroad Commission, which regulates the industry, requesting relief following the oil-price crash. Russia also is reportedly in favor of such a move before it agrees to re-join Saudi Arabia in slowing crude production. Previously, Russia had shown reluctance in supporting a plan by the Organization of the Petroleum Exporting Countries (OPEC) to remove an additional 1.5 million barrels per day from a joint output between OPEC members and other oil-producing countries.

On Wednesday, the US Energy Information Administration (EIA) said that crude inventories surged by two million barrels over a week to March 13. According to a Reuters poll, analysts have forecast an increase of 3.3 million barrels. Separately, data compiled by Baker Hughes (BKR) released Friday showed that the US oil rig count slumped by 19 to 664 over the week ended March 20, the lowest level since Jan. 10. The combined count for the US sank by 20 to 772 as gas rigs dropped by one to 106.

Light, sweet crude oil fell 35.98% for the week, settling at $25.22 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 31.18% over the five-day period and settled at $0.66 per gallon on Friday. Natural gas ended the week down 13.36%, settling at $1.65 per 1 million British thermal unit at the end of Friday’s session.

The SummerHaven Dynamic Commodity Total Return Index (SDCITR) fell 0.21% this week, compared with a decrease of 7.16% in the prior week.

Gold prices ended higher on Friday but failed to hold the $1,500 mark, with a settlement price of $1,479.30; it closed the week down 2.57% even as US equities weakened and the US dollar dropped. While the price of the precious metal has retreated from the 2020 high of $1,676.70 per ounce touched in late February, gold has not suffered the same losses seen for stocks and other commodities during the coronavirus pandemic.

Copper was lower on Friday, with a settlement price of $2.19, and fell 14.42% for the week, after reaching the lowest level since January 2016 on Thursday. Considered a gauge of the world’s economy due to its various end-uses in both construction and consumer products, the red metal has been under the scrutiny of analysts, especially with the impact of the coronavirus outbreak affecting major copper consumers such as China and the US. Analysts at Citi slashed their three-month price forecast for the red metal to $5,000 per metric ton. Goldman Sachs also cut its copper forecast to $4,900 per metric ton, from $5,900, for the next three months.

In agricultural commodities, wheat futures ended this week up 6.87% — the largest weekly gain in the last nine months — and closed the Friday session at a price of $5.39 per bushel, as some traders are optimistic that demand will improve as consumption of wheat-based products increases during the coronavirus pandemic; others are more cautious since this scenario is still based on speculation, and not on real-world experience.

In other commodities, soybeans closed higher at $8.63 a bushel on Friday’s and was 0.67% higher for the week. Corn closed at $3.44 a bushel, up 6.1% for the five-day period.  Sugar was up 11 cents per pound on Friday but down 6.68% for the week; coffee was up at $1.20 per pound for the day Friday and climbed 12.3% on the week, while cocoa settled at a price of $2,230 per tonne on Friday, up 8.58% for the week.

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

USO002152 Ex. 5/31/2020

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Weekly Commodities ETF Report: Crude Oil Logs Steepest Decline Since 2008; Gold Hits Above $1,700 But Ends Week Lower

(MT Newswires) – Crude oil prices ended higher on Friday, edging up after dropping by nearly a third in a week but ended the week with the steepest slump since 2008 amid a price war between Saudi Arabia and Russia, the two biggest producers in the world, and prospects for a supply glut as the countries move to produce more oil. The commodity saw its worst week since the 2008 financial crisis after Saudi Arabia responded to the collapse of talks between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers led by Russia by boosting output to record levels.

Oil is likely to remain under pressure as Europe takes the baton from China to become the epicenter of the coronavirus pandemic, undermining crude demand further. Uncertainty also surrounds the extension of the 1.7 million barrels per day of cuts that OPEC+ is mandated to implement until the end of March, implying higher production by cartel members in the months ahead.

On Wednesday, the Energy Information Administration said US crude stockpiles increased by 7.7 million barrels from the previous week.  At 451.8 million barrels, inventories were about 2% below the five-year average for this time of year. A week earlier, stockpiles rose by 785,000 barrels. Finally, the number of oil rigs rose by one rig to 683, the highest since the week ending Dec. 20, according to data compiled by energy-services firm Baker Hughes (BKR). A year ago, the US had 833 oil rigs in operation.

Light, sweet crude oil for April delivery fell 20.50% for the week, settling at $31.50 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 33.35% over the five-day period and settled at $0.90 per gallon on Friday. Natural gas ended the week up 9.82%, settling at $1.84 per 1 million British thermal unit at the end of Friday’s session.

The SummerHaven Dynamic Commodity Total Return Index (SDCITR) fell 7.16% for the week, compared with a decrease of 2.52% in the prior week.

Gold prices fell for the fourth-straight session, settling at a price of $1,590.30 on Friday, and down 5.84% for the week, as stock markets pushed up from their day-prior crash but investors still sought to liquidate the metal to make up for losses.  Earlier in the week, the yellow metal reached over $1,700, with gains coming on the back of a decline in 10-year US Treasury yields, which plunged to record lows. However, gold had since declined over the following days. “We attribute gold’s weakness to further forced selling in order to meet margin calls on other markets, especially stock markets. Many stock markets chalked up historic losses yesterday. Gold is highly liquid, which makes it the go-to asset in such cases,” Commerzbank analyst Daniel Briesemann said in a report.

Copper was lower on Friday, with a settlement price of $2.47, and fell 4.39% for the week. Analysts have seen the red metal fare better than other commodities such as oil amid the spread of the coronavirus, although it has been trading down more than 11% from a recent high in January. Copper, which is seen as a major indicator for economic activity, was initially hit as China grappled with COVID-19 cases as it was closely linked to the East Asian country’s manufacturing sector.

Agricultural commodities saw major weekly declines as concerns over the impact of the coronavirus outbreak on global economies continued. Corn futures fell 2.59% for the week, settling at a price of $3.66 per bushel on Friday. Soybean futures closed the Friday session lower at $8.49 per bushel, down 4.75% for the week. Wheat futures ended the week down 1.65%, closing the Friday session at a price of $5.06 per bushel.

Other agricultural commodities were also lower: sugar had a weekly decline of 10.98% and settled at a price of $0.12 per pound on Friday; coffee was around $1.07 per pound at Friday’s close, down 0.47% for the week; and cocoa was down 6.63% for the week and closed Friday’s session at $2,425 per tonne.

 

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

USO002150 Ex. 5/31/2020

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Weekly Commodities ETF Report: Crude, Gold Hit Multi-Year Lows as Global Concerns Over COVID-19 Outbreak Deepen

(MT Newswires) – Crude oil prices continued to slump on Friday, dropping for the sixth-straight session to the lowest since the end of 2018 as the coronavirus continued its spread outside of China, and quarantines and travel restrictions slashed demand. According to Johns Hopkins University data, South Korea now has 2,337 cases of the virus out of 83,774 reported worldwide, while Italy has 655 cases and the number of fatalities worldwide has risen to 2,867. The World Health Organization has raised the global risk for the coronavirus, or COVID-19, to  “very high” — which aims to drive countries to intensify their responses to the spreading virus.

The Organization of the Petroleum Exporting Countries (OPEC) has yet to respond to the crisis, which has sapped demand for oil as airlines reduced flights to slow the spread of infections and quarantines shuttered businesses and factories. The OPEC+ group, which includes OPEC members, Russia and other oil-producing nations, will meet next week to consider a response as reports say Saudi Arabia has cut shipments to Chinese refineries by 500,000 barrels per day on reduced demand.

Crude stockpiles increased last week, marking a fifth consecutive rise at a time that oil prices have been dragged sharply lower by concerns about the continued spread of the coronavirus. Inventories increased by 500,000 barrels through Feb. 21 to reach 443.3 million barrels, the Energy Information Administration said Wednesday. Inventories are about 3% below the five-year average for this time of year. A week earlier, stockpiles rose by 400,000 barrels.  This also compares with expectations for a 2.8 million-barrel increase by industry experts polled by S&P Global Platts while the American Petroleum Institute reportedly said Tuesday supplies grew by 1.3 million barrels the previous week. Finally, the count for oil rigs operating in the US rose by one to 679 in the week through Friday, according to data compiled by energy services firm Baker Hughes (BKR). A year ago, the US had 853 oil rigs in operation.

Light, sweet crude oil for April delivery fell 15.34% for the week, settling at $47.09 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 15.39% over the last five days and settled at $1.52 per gallon on Friday. Natural gas ended the week down 11.12%, settling at $1.75 per 1 million British thermal unit at the end of Friday’s session.

The SummerHaven Dynamic Commodity Total Return Index (SDCITR) fell 6.71% for the week, compared with an increase of 1.43% in the prior week.

Gold took its biggest one-day drop in nearly seven years, falling almost 5% despite another day of big stock-market losses and a falling dollar. Investors have been looking to liquidate assets as the spread of the coronavirus roils the global economy. The yellow metal ended Friday’s session at $1,642.50 and the week down 3.94%.

“One might imagine that there would be robust demand for gold in this environment, yet precisely the opposite is true this morning,” Commerzbank analyst Daniel Briesemann said in a note. “We attribute this to forced selling aimed at offsetting losses elsewhere and covering so-called margin calls. The emerging speculations of interest rate cuts are lending no support to gold.”

Likewise, copper was lower on Friday, with a settlement price of $2.57; it also closed the week in negative territory, down 2.31%, as coronavirus concerns continued to put a damper on demand for the red metal.

In agricultural commodities, soybean prices slipped lower on Friday as export sales continued to be weak, closing the session at $8.93 per bushel but ultimately rising 0.56% for the week. Weekly export data showed that sales to China were just 11,484 metric tons — the lowest weekly total since early September 2019.

Among other grains, corn fell 2.19% for the week, settling at a price of $3.68 per bushel on Friday; and wheat ended the week down 4.98%, closing the Friday session at a price of $5.25 per bushel. Other commodities were mixed:  sugar had a weekly decline of 6.08% and settled at a price of $0.14 per pound on Friday; coffee was around $1.11 per pound at Friday’s close, up 1.63% for the week; and cocoa was down 5.29% for the week and closed Friday’s session at $2,672 per tonne.

 

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

USO002145 Ex. 4/30/2020

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Weekly Commodities ETF Report: Crude Logs Gains as Traders Digest Supply Response to Lower Demand Due to Coronavirus Outbreak; Lingering Concerns Drive Gold to 7-Yr High

(MT Newswires) – Crude oil was lower on Friday but managed to end the week in positive territory, as traders mulled the supply response to weaker demand caused by the coronavirus.  Jet fuel demand fell as airlines cut the number of flights to and within China, where many factories and businesses remain shuttered. However, Commerzbank analyst Carsten Fritsch, in a research note, said the slowing down of Chinese demand was ” considerable” and that “… according to industry sources, refineries in China are currently processing (about) 10 million barrels of crude oil per day. This is 25% less than the average figure last year, and the lowest volume since 2014.”

The risk to crude demand in Q1 is piling pressure on the Organization for the Petroleum Exporting Countries (OPEC) and non-OPEC producers led by Russia — a cartel known as OPEC+ — to “remove the abundant oil” from the market, according to a separate research report by Commerzbank analysts Daniel Briesemann and Carsten Fritsch. OPEC+ is cutting 1.7 million barrels of crude daily, a stance that is coming up for review next month in a joint meeting.

Crude oil inventories increased by about 400,000 barrels during the seven days ended Feb. 14, reaching around 442.9 million barrels, the Energy Information Administration (EIA) reported.  This trailed the expected 3.3 million-barrel rise expected by industry experts polled by S&P Global Platts. The American Petroleum Institute late Wednesday reportedly said crude stockpiles grew by 4.2 million barrels last week. Finally, the count for oil in the US rose by one rig to 679 in the week through Friday, according to data compiled by energy services firm Baker Hughes (BKR). A year ago, the US had 853 oil rigs in operation.

Light, sweet crude oil for April delivery rose 2.12% for the week, settling at $53.88 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 10.74% over the last five days and settled at $1.67 per gallon on Friday. Natural gas ended the week up 3.19%, settling at $1.92 per 1 million British thermal unit at the end of Friday’s session.

The SummerHaven Dynamic Commodity Total Return Index (SDCITR) rose 1.43% for the week, compared with an increase of 1.11% in the prior week.

Copper inched higher on Friday, with a settlement price of $2.59; it also closed the week higher, up 0.06%. Outlook for the red metal brightened as China implemented several measures to mitigate the impact of the coronavirus outbreak. The People’s Bank of China cut the one-year loan prime rate (LPR) and the above five-year LPR, the benchmark lending rate, to help support local businesses. The latest rate cut followed the reduction in the one-year medium-term lending facility. Amid the outbreak, the virus-hit Hebei Province created a 50 billion yuan ($7.1 billion) special fund aimed at supporting businesses to get back on track and to ensure funding for infrastructure projects will not be delayed.

Gold surged to a seven-year high on Friday, closing the session at $1,620.50 and finishing the week up 3.75% as investors shunned riskier assets and took advantage of the yellow metal’s safe-haven status. Worries over the spread of the coronavirus persisted despite the decline in reported Covid-19 cases in China and the measures the country has undertaken to limit the outbreak’s impact. The concern now is that the number of those infected by the coronavirus outside of China is rising, with Japan reporting two deaths, while South Korea confirmed its first fatality from the disease. The virus has also spread to Iran, where there are 18 confirmed cases and four deaths in just two days.

In agricultural commodities,  Bloomberg News reported earlier in the week that Chinese buyers purchased at least two cargoes of sorghum from US exporters, signaling China’s return to the US farm goods market after the country disclosed a list of US exports that will be exempted from additional tariffs. Buyers also made an inquiry about soybeans but did not make firm bids because Brazil’s soybeans remain competitively priced, the report added, citing people familiar with the matter.  China will issue tariff waivers on 696 American products starting March 2. The list includes soybeans, pork, beef, corn, wheat, crude oil and liquefied natural gas.

Among grains, soybeans fell 0.56% and closed the Friday session at $8.91 per bushel; corn settled at a price of $3.77 per bushel on Friday, down 0.33% on the week; and wheat ended the week down 1.52%, closing the Friday session at a price of $5.52 per bushel. Other commodities were mixed:  sugar had a weekly increase of 3.92% and settled at a price of $0.15 per pound on Friday; coffee was around $1.10 per pound at Friday’s close, down 0.45% for the week; and cocoa was down 1.60% for the week and closed Friday’s session at $2,843 per tonne.

 

Copyright © 2020 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:  USCIUSOUSLBNOUNGUNL, 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.

USO002144 Ex. 4/30/2020

USCF logo

Weekly Commodities ETF Report: Crude Surges to Month’s Highest Level on Optimism Coronavirus Impact Can be Abated; Gold Hits 2-Week High

(MT Newswires) – Crude oil rose to the highest level this month on optimism that the impact of the coronavirus may be short-lived.  The World Health Organization reportedly played down fears by saying the recent jump in the number of diagnoses didn’t necessarily reflect a sudden surge in new infections, soothing investors’ nerves after the change in China’s diagnosis methodology undermined confidence in a recent deceleration in the rate of coronavirus infections. Additionally, the People’s Bank of China  eased monetary policy after the outbreak, supporting the view that the global health emergency won’t be allowed to escalate.

The optimism is outweighing downbeat views such as those expressed by the International Energy Agency (IEA) this week. The IEA expects demand this year to grow by only 825,000 barrels per day (b/d) rather than 1.2 million b/d, “as was still expected just a month ago,” the analysts said. This would be the smallest rise since 2011.

Meanwhile, Commerzbank said it does not believe that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers led by Russia, also known as OPEC-plus, will cut supplies even further next month, from 1.7 million barrels a day currently. The firm said OPEC was likely to find it hard to implement more output cuts because on Sunday it expected production to resume at the Wafra oilfield in a so-called neutral zone between Saudi Arabia and Kuwait, which has been suspended since 2015. Both the IEA and Kuwait see production from the Neutral Zone increasing in the near term, lifting supply at a time demand is relatively weak.

The Energy Information Administration (EIA) reported on Wednesday that inventories of US crude surged by 7.5 million barrels over a week to Feb. 7, three times more than the market had anticipated.  Finally, the count for oil in the US rose by two rigs to 678 in the week through Friday, according to data compiled by energy services firm Baker Hughes (BKR). That was the highest since Dec. 20. A year ago, the US had 857 oil rigs in operation.

Light, sweet crude oil for March delivery rose 3.32% for the week, settling at $51.42 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 3.70% over the five-day period and settled at $1.58 per gallon on Friday. Natural gas ended the week down 0.32%, settling at $1.83 per 1 million British thermal units at the end of Friday’s session.

The SummerHaven Dynamic Commodity Total Return Index (SDCITR) rose 1.11% for the week, compared with an increase of 0.73% in the prior week.

Gold rose to the highest in two weeks on Friday, closing the session higher at $1,578.80 as stocks weakened, pushing investors to the safety of gold. The yellow metal ended the week up 0.78%. The gains come as investors moved funds out of equities, taking profits in advance of the weekend as the impact of the coronavirus continues to hobble China’s economy. Even though businesses have slowly started to re-open and most employees returned to work, the quarantines from the prior weeks have cut travel and impacted factories and businesses amid the rising cases and fatalities. According to Johns Hopkins University data, 64,547 infections have now been confirmed, with 1,384 fatalities.

On the other hand, copper ended Friday in the red with a settlement price of $2.61, but ultimately was up 2.12% for the week. Traders had cited lower demand in the spot market, weighed by the toll from the coronavirus outbreak in China, which is a major consumer of the red metal.

In agricultural commodities news, US national security adviser Robert O’Brien had said the coronavirus outbreak could adversely impact the phase one trade agreement between the US and China, particularly affecting China’s purchases of US farm goods. China had pledged to buy $40 billion of US farm products in the next two years under the trade deal, which was signed Jan. 15.  “We expect the phase one deal will allow China to import more food and open those markets to American farmers, but certainly as we watch this coronavirus outbreak unfold in China it could have an impact on how big, at least in this current year, the purchases are,” Reuters quoted O’Brien as saying.

Among grains, soybeans prices rose 1.13% for the week and closed the Friday session at $8.94 per bushel; corn fell 1.44% on the week, settling Friday at a price of $3.78 per bushel; and wheat ended the week down 2.64%, closing the Friday session at a price of $5.43 per bushel. Other commodities were mixed:  sugar had a weekly decrease of 2.68% and settled at a price of $0.15 per pound on Friday; coffee was around $1.11 per pound at Friday’s close, up 12.2% for the week; and cocoa was down 0.38% for the week and closed Friday’s session at $2,886 per tonne.

 

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

USO002140 Ex. 4/30/2020

USCF logo

Weekly Commodities ETF Report: Crude in the Red as OPEC+ Weighs Coronavirus Impact on Demand; Copper, Agri Commodities Rise as China Halves Tariffs on US Imports

(MT Newswires) – Crude prices fell Friday as markets continued to assess the impact of the new coronavirus on oil demand. A technical panel from the Organization for the Petroleum Exporting Countries and other producers, known as OPEC +, recommended an additional cut of 600,000 barrels per day in oil output in response to the possible slump in oil demand in the wake of the coronavirus outbreak. Russian Energy Minister Alexander Novak said Friday that he sees demand dropping by 150,000 to 200,000 barrels per day but does not expect a decline in demand from China for Russian oil and gas. He also added that his country would need a few days to study the oil market before committing to deeper production cuts. Sources also said that OPEC+ ministers haven’t yet decided whether to bring forward their upcoming policy meeting to February from early March.

Inventories of US crude rose for a second straight time last week, adding 3.4 million barrels to 435 million barrels in the week ended Jan. 31, according to data published by the Energy Information Administration. That’s about 2% below the five-year average for this time of year. A week earlier the stockpiles climbed 3.5 million, the government figures showed. Finally, the number of oil rigs operating in the US rose by one rig to 676 in the week through Friday, according to data compiled by energy services firm Baker Hughes (BKR). A year ago, the US had 854 oil rigs working.

Light, sweet crude oil for March delivery fell 2.29% for the week, settling at $50.95 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 1.74% over the previous five days and settled at $1.50 per gallon on Friday. Natural gas was up 0.38% for the week, ending Friday at $1.86 per 1 million British thermal units.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 0.73% for the week, compared with a decline of 2.61% in the prior week.

Gold closed the Friday session higher at $1,570.00, as investors took profits and cut their risk by shedding stocks and moving to gold’s safe haven, following news that the Chinese have taken steps to halt the spread of the coronavirus, which had been expected to lower growth in the country and globally. However, the yellow metal ended the week slipping 1.24% lower as the US dollar rose, making gold less affordable for international buyers.

On the other hand, copper was in the red Friday, with a settlement price of $2.59 but ultimately ending up 1.47% for the week. The red metal has been taking a beating in the past few weeks, as worries for a slowdown in demand had been exacerbated by the impact of the coronavirus on China’s commerce and industry. But despite the uncertainties, there have been some bright spots for copper, as China — the biggest consumer of raw commodities — recently said that it will reduce by 50% additional tariffs on some US exports to the country, which were part of the $75 billion of US goods that were imposed with retaliatory tariffs on Sept. 1, 2019, according to the Customs Tariff Commission of the State Council. These include tariffs on US-sourced metals and metal products, such as copper diodes.

Similarly, sentiment around agricultural commodities brightened following China’s announcement, with soybean prices among the biggest winners following expectations for the East Asian country to increase its purchases. The Chinese Ministry of Commerce had said that it will use the imports to help increase the country’s supply of meat and other farm produce in the domestic markets. The Customs Tariff Commission, meanwhile, said that the move to halve the tariffs on US imports aims to promote healthy and stable development of Sino-US economic and trade relations. An unnamed Chinese official, however, said the tariff reduction was in response to the US’ planned elimination of 15% in additional duties on $120 billion of Chinese goods that will also take effect Feb. 14, Xinhua News Agency reported Thursday. The official added, “Further adjustment will mainly depend on future development in the economic and trade relations between the two countries.”

Among grains, soybeans rose 1.15% for the week and closed the Friday session at $8.82 per bushel; corn rose 0.33% and settled Friday at a price of $3.84 per bushel; and wheat ended the week up 1.04%, closing the Friday session at a price of $5.59 per bushel. Other commodities were mixed:  sugar had a weekly increase of 2.75% and settled at a price of $0.15 per pound on Friday; coffee was around $0.98 per pound at Friday’s close, down 3.28% for the week; and cocoa was up 4.52% for the week and closed Friday’s session at $2,898 per tonne.

 

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

USO002136 Ex. 3/31/2020

USCF logo

Weekly Commodities ETF Report: Crude Ends Week Lower as Middle East Tensions Recede; Gold Gains on Weak Jobs Report

(MT Newswires) – Crude dropped to the lowest in a month Friday as Persian Gulf tensions ebbed. The drop — the lowest since Dec. 11 — comes as traders try to assess proper security of supply premium as tensions between the US and Iran eased. Earlier in the week, crude had hit a five-month high as geopolitical tensions flared following the Jan. 3 assassination of Iranian general Qassem Soleimani, Iranian missile attacks on Iraqi military bases and the destruction of a Ukrainian passenger aircraft that the US, Canada, and others are blaming on Iranian air defenses.

On Wednesday, the Energy Information Administration said the US crude supplies surged by 1.2 million barrels over a week to Jan. 3, after falling in each of the previous three weeks. The jump surprised the market, which according to data compiled by S&P Global Platts, expected a drop of 3.7 million barrels. Meanwhile, the number of oil rigs operating in the US dropped by 11 to 659 during the week that ended on Jan. 10, the lowest level since March 2017, according to data compiled by energy services firm Baker Hughes (BKR). The combined oil and gas rig count in the US fell by 15 to 781 as gas rigs slid by four to 119.

Light, sweet crude oil for February delivery fell 6.14% for the week, settling at $59.56 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 5.05% over the last five days and settled at $1.65 per gallon on Friday. Natural gas was up 4.35% on the week, ending Friday at $2.17 per 1 million British thermal units.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.68% for the week, compared to a decrease of 0.19% in the prior week.

Gold ended higher on Friday, closing at $1,554.30 and with a weekly gain of 0.42%, reversing earlier losses as the US dollar dropped following a weaker-than-expected December jobs report, which showed that the US economy added just 145,000 jobs in December, well under both the 180,000 increase forecast by Action Economics and the 256,000 jobs added in November. Likewise, copper rose during Friday’s session, ending at a settlement price of $2.80 to close the week 1.11% higher.  Prices were boosted by low inventories and tight supplies; a softer dollar and firmer yuan also provided support. Meanwhile, Chile’s state copper agency Cochilco reported that copper output at mines owned by Codelco, as well as at the Escondida mine owned by BHP, had slumped in November, as riots and mass protests continued in the country. Chile is one of the world’s biggest copper producers.

In agricultural commodities news, Caixin Global reported Tuesday that China will keep its yearly global import quotas for certain grains for 2020 amid its pledge to increase imports of US agricultural products to between $40 billion and $50 billion as part of the country’s phase-one trade deal with the US. The report, which cited China’s Agriculture and Rural Affairs Vice Minister Han Jun, noted there is substantial room to expand imports of wheat, rice and corn as China had not used its yearly global import quotas for the said grains. Han earlier said US farm product imports in the first 10 months of 2019 only totaled $10.4 billion following sharp decreases in the previous two years due to the trade war. He added imports of soybeans, pork and poultry will be increased after the signing of the trade agreement.

Among grains, soybeans logged a weekly gain of 0.48%, closing Friday’s session at $9.46 per bushel; corn rose 0.19% for the week, settling Friday at a price of $3.86 per bushel; and wheat ended the week up 1.58%, closing the Friday session at a price of $5.65 per bushel. Other commodities were mixed:  sugar had a weekly increase of 6.02% and settled at a price of $0.14 per pound on Friday; coffee was around $1.19 per pound at Friday’s close, down 6.54% for the week; and cocoa was up 2.86% for the week and closed Friday’s session at $2,589 per tonne.

 

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

Caixin Global provides the latest China news headlines on politics, economy, business and finance with insight and in-depth analysis.

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.

USO002108 Ex. 2/29/2020

USCF logo

Weekly Commodities ETF Report: Crude, Gold Surge as Middle East Tensions Rise Following Death of Top Iranian General in US Forces Assault in Iraq

(MT Newswires) – Crude surged higher Friday, closing at $61.18. and rounding out the week with gains of 2.04%, following the overnight killing of Iran’s top military commander in a US drone strike outside Baghdad. The US said late Thursday that it killed Gen. Qassem Soleimani in an airstrike near the airport in Iraq’s capital city. Secretary of State Mike Pompeo told CNN on Friday morning that the killing of Soleimani “saved American lives” and was based on intelligence about an “imminent” attack in the region. Soleimani was the head of Iran’s elite military Quds force and was widely seen as the Islamic Republic’s second most powerful figure after Supreme Leader Ayatollah Ali Khamenei. Khamenei vowed “severe revenge” for Soleimani’s death in a message on Twitter.

The Energy Information Administration reported US crude inventories decreased for a third straight week, moving back in line with the five-year average of this time of year and aiding the day’s rally in crude prices. Data on Friday showed inventories were down 11.5 million barrels for the week through Dec. 27 to 429.9 million barrels. The figures were released later than usual due to the New Year’s holiday on Wednesday. Finally, the number of oil rigs operating in the US fell for a second straight week, while a decline in the tally for gas equipment sent the count for that commodity to the lowest since late 2016. The number of oil rigs in the US fell by seven to 670 in the week through Friday, according to data compiled by energy services firm Baker Hughes (BKR). That adds to the retreat of eight rigs from the previous week, the data showed. A year ago, the US had 877 oil rigs in operation.

In other energy futures, gasoline was up 1.19% over the five days to Friday and settled at $1.70 per gallon on Friday. Natural gas was down 3.50% on the week, ending Friday at $2.12 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) declined 0.18% this week, compared with an increase of 1.76% in the prior week.

Gold rose to the highest in four months on Friday, closing at $1,528.10 and with a weekly gain of 3.14% as investors moved away from risky assets in the wake of the US assassination of Soleimani in a missile attack near Baghdad.  Meanwhile, the flare up in tensions in the Middle East has weighed on copper, with prices for the red metal declining during Friday’s session, ending at a settlement price of $2.83 but closed the week 1.52% lower. Analysts have also cited weak demand in the spot market.

In agricultural commodities news, soybeans have logged a fifth consecutive weekly gain, ending the week 0.45% higher, closing Friday’s session at $9.42 per bushel. Optimism is still high, with traders expecting more purchases from China especially with the signing of the interim trade deal, which the Trump administration announced Tuesday. US President Donald Trump said he will sign the phase-one trade deal with China Jan. 15, a little over a month after the two sides reached an agreement. According to the US leader’s tweet, the signing of the trade deal will take place in the White House, with the presence of high-level Chinese officials. He added that he will travel to Beijing soon to start the negotiations for the second phase of the trade deal. China has yet to release its own statement on the trade deal signing.

Among other grains,  corn fell 0.64% on the week, settling Friday at a price of $3.87 per bushel; and wheat ended the week up 2.63%, but closed down in Friday’s session at a price of $5.55 per bushel. Other commodities were mixed:  sugar had a weekly decline of 0.52% and settled at a price of $0.13 per pound on Friday; coffee was around $1.26 per pound at Friday’s close, down 2.35% for the week; and cocoa was up 3.66% for the week and closed Friday’s session at $2,519 per tonne.

Copyright © 2020 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: USCIUSOUSLBNOUNGUNL, 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.

USO002108 Ex. 2/29/2020

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Weekly Commodities ETF Report: Crude, Gold Close Week Higher on Upbeat Sentiment Following Phase One Trade Deal

(MT Newswires) – Crude rose to the highest level in three months early Friday on optimism after a partial “phase-one” trade deal was announced in which China failed to commit to a specific dollar amount of purchases and the Trump administration removed the threat of any new import tariffs on Sunday. The Office of the United States Trade Representative said in a statement that the US will be maintaining 25% tariffs on about $250 billion of Chinese imports while reducing tariffs on $120 billion in products to 7.5%. The phase-one deal also includes a commitment by China that it will make “substantial additional purchases” of US goods and services in the coming years. China hasn’t committed to President Donald Trump’s key demand for about $50 billion of agricultural imports, with trade officials reportedly saying that such a move would land it in conflict with other trade partners. Vice Minister for Agriculture & Rural Affairs Han Jun confirmed the country would increase its purchases of agricultural goods but declined to specify how much, a report from CNBC said. “We will begin negotiations on the phase Two Deal immediately, rather than waiting until after the 2020 Election,” Trump said in a Twitter message.

Oil prices also firmed on Thursday, with the Organization of the Petroleum Exporting Countries (OPEC) predicting the oil market will be slightly undersupplied next year, though the International Energy Agency (IEA) begged to differ, predicting in its monthly outlook that new non-OPEC supplies will result in overproduction of 0.7 million barrels per day in the first quarter. OPEC and the IEA had different narratives in their monthly oil reports, with the IEA forecasting that 2.1 million barrels per day of new non-OPEC production will oversupply the market despite the production cuts from OPEC, Russia and Saudi Arabia. However, OPEC sees slightly lower growth outside of the cartel and a slightly undersupplied market in 2020.

Meanwhile, the US Energy Information Administration said commercial crude oil inventories increased by 0.8 million barrels for the week ended Dec. 6, up from the previous week.  US crude oil inventories are now 4% above the five-year average for this time of year. This compares with the American Petroleum Institute’s report that crude supplies rose by 1.4 million barrels. Analysts surveyed by S&P Global Platts were projecting a decrease of 2.8 million barrels.

Finally, the US weekly oil rig count rose by four to 667, the first weekly increase in eight, according to data compiled by energy services firm Baker Hughes (BKR). The combined oil and gas rig count in the US was flat at 799 as gas rigs were down by four to 129 during the week that ended Dec. 13.

Light, sweet crude oil for January delivery rose 1.19% for the week, settling at $59.18 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 0.56% over the last five days and settled at $1.63 per gallon on Friday. Natural gas was down 1.87% for the week, ending Friday at $2.33 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 2.09% for the week, compared with an increase of 1.37% in the prior week.

Gold ended Friday higher at $1,472.30 and the week up 1.10% even as the US dollar declined, as positive sentiment returned after the US and China trade deal was announced and as the Conservative party secured a victory in the UK elections, ending uncertainty over whether the country would proceed with Brexit since the party campaigned on leaving the European Union. The yellow metal often sees declines when geopolitical turmoil eases and investors are more likely to bet on riskier assets.

Copper prices slipped lower during Friday’s session, ending at a settlement price of $2.80 but closed the week 1.26% higher, also due to optimism for the interim trade deal between the US and China.  The red metal sank lower earlier in the week after Fitch Solutions forecasted lower prices due to weak market sentiment brought on by the trade war. Fitch said it expects copper prices to average $5,700 per metric Ton (mt) in 2020, down from $6,000/mt in 2019.

Agricultural commodities were also in positive territory following the upbeat trade sentiment. Among grains, soybeans ended the week 2.00% higher, closing Friday’s session at $9.08 per bushel; corn rose 1.20% on Friday, settling at a price of $3.81 per bushel; and wheat ended the week up 1.67%, closing the Friday session at a price of $5.33 per bushel. Other commodities were mostly higher:  sugar had a weekly increase of 2.04% and settled at a price of $0.14 per pound on Friday, and coffee was around $1.31 per pound at Friday’s close, up 4.68% for the week; cocoa was down 1.76% for the week and closed Friday’s session at $2,572 per tonne.

 

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.

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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.

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S&P Global Platts –  a provider of energy and commodities information and a source of benchmark price assessments in the physical commodity markets. The business was started with the foundation in 1909 of the magazine National Petroleum News by Warren C. Platt

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USO002079 Ex. 1/31/2020