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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

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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.

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.

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

Fitch Solutions –  Provides Credit Macro & Industry Expertise from Local People In Local Markets With Local Knowledge. Gain Deeper Insights & Complete Knowledge About The Macroeconomic Environment. 12,000 Insurers. 30 Years Of Data. 1,100 Leading Analysts. 30,000 Banks.

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.

USO002079 Ex. 1/31/2020

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Weekly Commodities ETF Report: Crude Hits 3-Month High as OPEC+ Pledges to Cut Production; Gold Sinks as Dollar Jumps on Upbeat US Jobs Data

(MT Newswires) – Crude rose the highest in nearly three months on Friday as the Organization of the Petroleum Exporting Countries (OPEC) and Russia agreed to produce 500,000 barrels per day less oil in the first quarter of 2020. This was followed by Saudi Arabia’s announcement that it will produce 400,000 bpd below its OPEC quota to support prices and boost the value of Aramco, its state-controlled oil company. Meanwhile, the US Energy Information Administration (EIA) said oil inventories fell for the first time in six weeks. The EIA reported Dec. 4 that crude oil inventories fell by 4.9 million barrels for the week ended Nov. 29, well above an expected 700,000-barrel decline forecast by S&P Global Platts and reported by MarketWatch. The drop cut inventories to 447.1 million barrels, 3% above the five-year average. This compares with a decrease of 3.72 million barrels of crude oil reported by the American Petroleum Institute.  Finally, the number of oil rigs operating in the US declined for a seventh consecutive week to remain at their lowest level in more than two-and-a-half years. The US oil rig count fell by five to 663 in the week through Dec. 6, according to data compiled by energy services firm Baker Hughes (BKR). The total was the lowest since the week ended March 31, 2017, when 662 rigs were running. A year ago, there were 877 oil rigs in operation.

Light, sweet crude oil for January delivery rose 1.70% for the week, settling at $58.43 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.90% over the last five days and settled at $1.62 per gallon on Friday. Natural gas was up 1.34% this week, ending Friday at $2.43 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.37% this week, compared with a decline of 1.34% in the prior week.

Gold ended Friday in the red at $1,483.10 and the week 0.41% lower, pushed down as an unexpectedly strong US jobs report and a stronger dollar boosted investor appetite for risk. The drop came as the United States added 266,000 new jobs in November, well above expectations. The positive data convinced investors to move to equities and other risky assets and sell gold. The US dollar also pushed higher, making gold less affordable for international buyers. Copper prices, meanwhile, rose during Friday’s session, ending at a settlement price of $2.66 and closing the week 3.29% higher, in step with other industrial metals, on the back of optimism over the progress of the US-China interim trade deal. Concerns over the progress of the trade negotiations had been sparked by renewed tensions between the two countries after the signing of the pro-democracy Hong Kong bill as well as a bill proposing sanctions on Chinese officials over human rights violations against Uighur Muslims in China’s Xinjiang province. However, there have been reassurances that the phase one trade deal between the US and China will be signed soon, with media reports quoting US Treasury Secretary Steven Mnuchin as saying that negotiations for an initial trade agreement were “progressing.” On Thursday, Reuters quoted Mnuchin as saying that talks between Washington and Beijing for an initial agreement were “on track,” though the Trump administration does not have a deadline on when to finalize the deal.

In agricultural commodities news, China reportedly began a process of removing import tariffs on certain types of US agricultural products, as part of its efforts to facilitate a partial trade deal with the US before new levies are imposed by Dec. 15. Xinhua News Agency said in a report that the State Council in China has kicked off the process that would exempt US exports of soybeans and pork from Chinese import levies. President Donald Trump, who is demanding China purchase $40 billion to $50 billion of US agricultural products annually, will decide by Dec. 15 whether more tariffs will be slapped on $156 billion of goods imported from China if the phase-one deal fizzles out. China is calling on the US to roll back import penalties it has levied over the past 16 months to bring about a trade agreement with the world’s second-largest economy. Among grains, soybeans ended the week 1.43% higher, closing Friday’s session at $8.90 per bushel; corn was down 1.18% for the week, settling Friday at a price of $3.77 per bushel; and wheat ended the week down 3.32%, closing the Friday session at a price of $5.25 per bushel. Other commodities were higher:  sugar had a weekly increase of 2.01% and settled at a price of $0.13 per pound on Friday; cocoa was up 2.43% for the week and closed Friday’s session at $2,607 per tonne; and coffee was around $1.25 per pound at Friday’s close, up 4.07% for the week.

 

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.

USO002079 Ex. 1/31/2020

USCF logo

Weekly Commodities ETF Report: Crude Ends in the Red Ahead of OPEC+ Meeting; Gold Gains as Equities Slip on Trade Deal Uncertainty

(MT Newswires) – Crude ended Friday’s session lower ahead of this week’s meeting of the Organization of the Petroleum Exporting Countries (OPEC), Russia and other oil-producing countries (known as the OPEC+ group) to decide on whether to extend 1.2 million barrels per day of production cuts.  Most analysts are expecting an extension of at least three months to the agreement, though a few are calling for deeper cuts. Meanwhile, the US Energy Information Administration said oil inventories rose by 1.6 million barrels the week ending Nov. 22 to 452.0 million barrels, placing stocks at 3% above the five-year average. The rise compares with a build of 3.639 million barrels in commercial supplies reported by the American Petroleum Institute.  Finally, the US oil rig count fell by three to 668 during the week that ended Nov. 27, 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 one to 802 as gas rigs were up by two to 131.

Light, sweet crude oil for December delivery slipped 4.26% for the week, settling at $58.11 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 4.36% over the previous five days and settled at $1.68 per gallon on Friday. Natural gas was down 14.42% for the week, ending Friday at $2.50 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.34% this week, compared with a decline of 1.26% in the prior week.

Gold ended Friday higher at $1,460.80 and the week up 0.55%, benefitting from its safe-haven status as equities weakened. Copper prices, meanwhile, fell during Friday’s session, ending at a settlement price of $2.70 but closed the week 0.55% higher.  Both the precious metal and the industrial metal responded to developments in the ongoing trade negotiations between the United States and China, although by the end of the week there was little new information following the approval of a new US law supporting Hong Kong protesters earlier in the week. China threatened to retaliate after the bill was signed but has not yet taken any steps to act on its disapproval; however, a report from Global Times said Chinese officials are now pondering banning the US officials who drafted the pro-democracy Hong Kong bill from entering China and its territories. Earlier in the week, an unnamed senior Trump administration official told Politico that the US and China are only “millimeters” away from reaching an interim trade agreement.

Among agricultural commodities, soybeans ended the week 2.64% lower, closing Friday’s session at $8.82 per bushel; corn rose 2.39% for the week,  settling at a price of $3.73 per bushel on Friday; and wheat ended the week up 6.07%, closing the Friday session at a price of $5.27 per bushel. Other commodities were higher: sugar had a weekly increase of 2.53% and settled at a price of $0.13 per pound on Friday; cocoa was down 3.26% for the week and closed Friday’s session at $2,568 per tonne;  and coffee was around $1.19 per pound at Friday’s close, up 3.88% for the week.

 

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.

USO002079 Ex. 1/31/2020

USCF logo

Weekly Commodities ETF Report: Crude Settles Lower as Trade Woes Offset Hopes for OPEC Output Cuts; Gold Ends Week in the Red

(MT Newswires) – Crude ended Friday’s session lower as trade concerns offset expectations that the Organization of the Petroleum Exporting Countries (OPEC) and Russia will renew their production cut agreement when they meet next month. Trade worries have kept a lid on oil prices as investors watch for news on the progress of trade talks between China and the United States. China’s President Xi Jinping made his first comments on the talks Friday, with the South China Morning Post reporting he supports talks to reach an initial deal with the United States but will fight back against arbitrary US measures. Expectations that OPEC and Russia will extend their agreement to keep 1.2 million barrels per day off the market has added support for oil. Russian President Vladimir Putin said his country will continue to cooperate with OPEC in a supply-cut agreement. On Tuesday Reuters had reported that Russia will not support a Saudi push for additional production cuts when it meets with OPEC next month but may commit to extending their existing deal to reduce their combined output by 1.2 million barrels per day. Meanwhile, the US Energy Information Administration said oil inventories had risen by 1.4 million barrels the previous week, placing stocks at 3% under the five-year average. The rise compares with expectations of industry experts polled by S&P Global Platts for a 1.54 million-barrel build for the week and a rise of 5.95 million barrels in commercial supplies reported late Tuesday by the American Petroleum Institute. Finally, the number of oil rigs operating in the US fell for the fifth straight week to a nearly 32-month low. The crude-equipment tally fell by three to 671 in the week through Nov. 22 to remain at their lowest level since 662 were operating in the week ended March 31, 2017, data from Houston-based energy services firm Baker Hughes (BKR) showed. A year ago, there were 885 oil rigs operating. For oil and gas, the US total number of rigs working for the week fell by three to 803.

Light, sweet crude oil for December delivery gained 0.21% for the week, but settled lower at $58.58 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.12% over the last five days and settled at $1.70 per gallon on Friday. Natural gas was up 1.23% for the week, ending Friday at $2.62 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.81% on the week, compared with an increase of 0.07% in the prior week.

Gold ended Friday lower at $1,463.60 and the week down 0.44%, as a higher US dollar checks demand. However, the price of the metal has seen some support due to trade worries over the ongoing US-China trade war, as the market awaits a conclusion to trade talks between the two countries amid conflicting reports over their progress. Copper prices, meanwhile, rose during Friday’s session, ending at a settlement price of $2.62 and closing the week 0.28% higher,  after the World Bureau of Metal Statistics (WBMS) reported that the world copper market recorded a deficit of 203 kilo tonnes in the first nine months of this year, versus 284 kilo tonnes for the whole of 2018. The global copper consumption came in at 17.56 million tonnes in the January to September period, which was down from 17.86 million tonnes in the corresponding period last year.

In agricultural commodities news, soybeans ended the week 2.42% lower, closing Friday’s session at $8.97 per bushel, following reports that the signing of a phase one trade deal between the US and China may be postponed until next year. Meanwhile, corn declined 0.61% on Friday, settling at a price of $3.69 per bushel; and wheat ended the week down 2.98%, closing the Friday session at a price of $5.19 per bushel. Other commodities were mostly higher:  sugar had a weekly increase of 0.63% and settled at a price of $0.13 per pound on Friday; cocoa was down 2.45% for the week and closed Friday’s session at $2,617 per tonne;  and coffee was around $1.16 per pound at Friday’s close, up 4.81% for the week.

 

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.

The Caixin Manufacturing PMI Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of private 430 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction.

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.

USO002079 Ex. 12/31/2019

USCF logo

Weekly Commodities ETF Report: Gold Ends Lower as Uncertainty Over US-China Trade Talks Resurface; Crude Logs Gains on Possible Push for OPEC Production Cuts by Saudi Arabia

(MT Newswires) – Crude ended Friday’s session higher following reports that the Organization of the Petroleum Exporting Countries (OPEC) will not agree to new production cuts when it meets with Russia next month to decide on the future of their 1.2 million barrels per day in output restrictions. However, Saudi Arabia will reportedly push for lower output ahead of the Initial public offering (IPO) of Saudi Arabian Oil Co., or Aramco — a move that would help drive oil prices higher. Meanwhile, stockpiles of US commercial crude surged in the week ending Nov. 1, posting a bigger build than the previous period. Inventories rose 7.9 million to 446.8 million barrels, putting the stockpiles about 3% above the five-year average for this time of year. A week earlier, crude stockpiles were up 5.7 million barrels and were 1% above the norm. This compares with the American Petroleum Institute’s weekly survey, which showed US oil inventories rose by 4.3 million barrels for the period. Finally, the number of oil rigs operating in the US fell for the third straight week, dropping by seven to 684 in the week ended Nov. 8, according to energy services firm Baker Hughes.  

Light, sweet crude oil for November delivery rose 2.13% for the week, settling at $57.15 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.36% over the last five days and settled at $1.64 per gallon on Friday. Natural gas was up 3.33% on the week, ending Friday at $2.77 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 2.01% for the week, compared with a decline of 0.30% in the prior week.

Gold ended Friday at $1,466.40 and the week down 3.80%, with prices slipping lower after the US-China trade talks took a sour turn as reports that tariffs will be rolled back as part of the countries’ phase one trade deal were denied by a US trade official. There have also been reports that some US officials were opposed to a partial deal with China that would see the two countries roll back tariffs imposed during the trade spat.  This has caused renewed concerns that the two countries are not as close to a deal to end their long-running trade war as thought. Similarly, copper prices fell during Friday’s session, ending at a settlement price of $2.73 but ultimately closed the week 1.01% higher. The industrial metal has seen lowered demand after China, the world’s top consumer of copper, reported a 3.1% drop in copper imports in October, attributing the decline to tepid growth in its manufacturing sector.

In agricultural commodities news, the US Agriculture Department (USDA) slashed its forecasts for the corn harvest, citing cold and wet conditions late in the growing season, which cut into yields, particularly in areas like South Dakota, Nebraska and Minnesota — key areas for production of the crop. The USDA also cut its forecasts for wheat production but maintained its guidance for the soybean harvest. Soybeans also ended the week 0.69% lower, closing Friday’s session at $9.31 per bushel; corn declined 3.09% on Friday, settling at a price of $3.77 per bushel; and wheat ended the week down 0.97%, closing the Friday session at a price of $5.10 per bushel. Other commodities were mostly higher: sugar had a weekly increase of 0.72% and settled at a price of $0.13 per pound on Friday; cocoa was up 1.34% for the week and closed Friday’s session at $2,498 per tonne; and coffee was around $1.09 per pound at Friday’s close, up 4.36% for the week.

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.

The Caixin Manufacturing PMI Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of private 430 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction.

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.

USO002079 Ex. 12/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Logs Weekly Loss But Rises Friday on Upbeat Jobs Report, US-China Trade Deal Progress; Gold Ends Higher on Fed Rate Cut

(MT Newswires) – Crude ended Friday’s session higher on a better-than-expected US jobs report. The price gains came after the release of a US nonfarm payrolls report that showed the country added 128,000 jobs last month, well above the 95,000 new jobs expected by Action Economics. Comments from US Commerce Secretary Wilbur Ross that the initial phase of a trade agreement with China will be ready for signing by mid-month also supported prices, as did positive economic data from China, where factory activity rose at the fastest pace in two years. Earlier in the week, oil prices had declined as Bloomberg reported that Chinese officials were concerned that they may not be able to reach a trade deal with the United States and China was unwilling to make concessions on demands for structural changes to its economy. Worries that the trade war will continue come a day after the US government data showed that stockpiles of crude rose last week, which some in the market saw as a sign that demand for oil is weak. The Energy Information Administration said inventories of crude oil rose by 5.7 million barrels to 438.9 million barrels in the week ended Oct. 25. The data also showed that US stockpiles of crude oil are now about 1% above the five-year average for this time of year. The weekly gain followed a decline of 1.7 million barrels in the prior period, which was the first decrease since early September. This compares with the American Petroleum Institute’s report on Tuesday that US oil inventories fell by 708,000 barrels the previous week, while forecasts called for a rise of about one million barrels. Meanwhile, the number of oil rigs operating in the US fell for the second straight week to remain at a 30-month low. The crude equipment tally fell by five to 691 in the week through Friday to remain at their lowest level since 688 were operating in the week ended April 21, 2017, data from Houston-based energy services firm Baker Hughes (BKR) showed. A year ago, there were 874 oil rigs operating.

Light, sweet crude oil for November delivery fell 1.04% for the week, settling at $54.18 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 1.24% over the five-day period and settled at $1.59 per gallon on Friday. Natural gas was up 9.92% on the week, ending Friday at $2.63 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.30% for the week, compared with a growth of 1.17% in the prior week.

Gold ended Friday at $1,514.80 and the week up 0.54%, with prices gaining support from the Federal Reserve move earlier in the week to cut the target range on its policy lending rate for a third straight time.  Gold saw losses early Friday as the US dollar rose following a better-than-expected jobs report and trade optimism, which reduced the metal’s appeal as a safe haven. On the other hand, copper prices rose during Friday’s session, ending at a settlement price of $2.64 but ultimately closed the week down 0.84% following the upbeat factory activity data from China. The Caixin/Markit’s Manufacturing Purchasing Managers’ Index for October showed that China’s manufacturing output rose to 51.7 last month from 51.4 in September and much better than the 51 reading that economists had predicted in a Reuter’s poll.

In agricultural commodities news, US corn declined on Friday, settling at a price of $3.89 per bushel on worries over possible delays in the crop’s harvest, but managed to eke a weekly gain of 0.19%. Soybeans also ended the week 1.52% higher, closing Friday’s session at $9.37 per bushel as the prospects for a “phase one” trade deal between the US and China once again turned positive. However, Washington’s demand for China to buy as much as $50 billion of US farm products — something Beijing has been reluctant to commit to — could remain a point of contention in future negotiations between the two countries. Meanwhile, wheat ended the week down 0.29%, closing the Friday session at a price of $5.16 per bushel. Other commodities were mostly higher: sugar had a weekly increase of 1.14% and settled at a price of $0.12 per pound on Friday; cocoa was up 0.65% for the week and closed Friday’s session at $2,478 per tonne;  and coffee was around $1.04 per pound at Friday’s close, up 5.04% for the week.

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.

The Caixin Manufacturing PMI Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of private 430 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction.

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.

USO002079 Ex. 12/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Closes the Week in Positive Territory Following Unexpected Drop in US Inventories; Gold Also Higher Ahead of Fed’s Interest Rate Decision This Week

(MT Newswires) – Crude ended Friday’s session and the week higher, continuing to log gains from the previous week following a surprise drop in US crude inventories. The Energy Information Administration on Thursday said oil inventories unexpectedly dropped by 1.7 million barrels for the week, easing demand worries. This was the first drop in five weeks, while most analysts had expected stocks to rise. The American Petroleum Institute had previously reported a build of 4.45 million barrels in US crude oil inventories for the week ending Oct. 18. Also providing support for crude prices was news of a shutdown of the Forties pipeline system in the North Sea, as well as reports that the Organization of the Petroleum Exporting Countries (OPEC) will consider further production cuts on top of the 1.2 million barrels per day already removed from the market when it and Russia meet in December. Meanwhile, the number of oil rigs operating in the US fell to a nearly 30-month low after posting back-to-back weekly gains. The crude equipment tally fell by 17 to 696 in the week through Friday to the lowest level since 688 were operating in the week ended April 21, 2017, data from Houston-based energy services firm Baker Hughes (BHGE) showed. A year ago, there were 875 oil rigs operating. Concerns over lower demand lingered, however, as weak European manufacturing data released earlier in the week showed demand growth is likely to remain weak as US trade wars continue to cut into global growth, with the International Monetary Fund saying earlier that the global economy is growing at the slowest pace since the financial crisis.

Light, sweet crude oil for November delivery rose 5.40% for the week, settling at $56.23 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 0.73% over the last five days and settled at $1.63 per gallon on Friday. Natural gas was up 4.62% this week, ending Friday at $2.32 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.71% for the week, compared with a decline of 0.92% the prior week.

Gold ended higher on Friday at $1,504.70 and the week up 0.92% despite a stronger US dollar ahead of this week’s decision on interest rates from the Federal Reserve. The gains came as uncertainty over Brexit and weak economic data from the US and Europe pushed investment to gold’s safe haven. However, the possibility of a third cut to US interest rates this year is also driving prices higher. The Fed’s Open Markets Committee meets next week to consider another rate cut as the country’s trade wars cut into global growth. Lower interest rates support the metal because it cuts the cost of owning gold since the metal offers no yield. Meanwhile, copper prices rose, ending Friday’s session at $2.67 and the week, up 1.48% on a possible supply shortage for the red metal, following news of production disruptions in Chile’s copper operations amid political protests in the country. However, gains were offset by continued concerns over the slowdown in the global economy’s growth as well as weak demand for the industrial metal. Additionally, an international organization of copper producing and using countries said that it expects a surplus of the red metal in 2020. The International Copper Study Group said that the copper market is projected to log a surplus of 281,000 tonnes next year, compared with the 320,000 tonnes in deficit in 2019.

In agricultural commodities news, China has pledged to buy at least $20 billion of agricultural products annually as part of the partial trade deal it will sign with the US, according to a report on Bloomberg Thursday. According to sources, the East Asian Country is also considering more purchases — as much as $40 billion to $50 billion — in the future rounds of the trade negotiations. Wheat ended the week down 2.69%, closing the Friday session at a price of $5.18 per bushel; soybeans were down 1.18% for the week, and closed Friday at $9.20 per bushel; and corn for December delivery fell 0.70% in the week and settled at $3.87 per bushel in Friday’s session. Other commodities were mostly higher: sugar had a weekly increase of 0.16% and settled at a price of $0.12 per pound on Friday; cocoa was down 1.65% for the week and closed Friday’s session at $2,435 per tonne;  and coffee was around $0.99 per pound at Friday’s close, up 3.71% for the week.

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.

USO002079 Ex. 12/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Ends Week Lower on Weak China Q3 Gross Domestic Product (GDP); Gold Logs Marginal Gains on Uncertainty Over Fed Rate Cut

(MT Newswires) – Crude ended Friday’s session and the week lower, as China reported that its economy grew at the slowest pace in nearly three decades. China — the largest crude importer in the world — said its economy grew by 6% in the third quarter, the slowest pace in 27 years as the 15-month long trade war with the United States continued to bite. Earlier in the week, oil had been trading lower but rose briefly following news of a temporary ceasefire deal between the US and Turkey, allowing 120 hours for Kurdish forces to retreat further into Syria. The news helped ease Middle East tensions, which have been strained since Turkey’s incursion into Syria. Back home, the Energy Information Administration on Thursday said stockpiles of commercial crude in the US rose by 9.3 million barrels in the week through Oct. 11 to reach 434.9 million barrels, sending inventories about 2% above the five-year average for this time of year. The build was also three times more than expected, though gasoline and distillate inventories fell due to refinery maintenance.  Industry experts polled by S&P Global Platts had been expecting a 4.0 million-barrel build last week while the American Petroleum Institute late Wednesday reportedly said inventories increased by 10.5 million barrels.  The government data was released a day later than usual due to the Columbus Day federal holiday on Monday. Meanwhile, the number of oil rigs operating in the US rose by one to 713 in the week that ended on Oct. 18, hovering near its lowest level since May 2017, according to data compiled by energy services firm Baker Hughes (BHGE) on Friday.

Light, sweet crude oil for November delivery fell 2.13% for the week, settling at $53.93 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.44% over the five-day period and settled at $1.62 per gallon on Friday. Natural gas was up 6.12% for the week, ending Friday at $2.32 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) declined .92% this week, compared with an increase of 2.03% the prior week.

Gold ended lower on Friday at $1,498.30, despite a weaker US dollar and lower stock markets as uncertainty continued over whether the Federal Reserve (Fed) will cut interest rates once again when it meets on Oct.30. However, the yellow metal managed to log modest gains of 0.36% for the week. Investors remain unsure whether a third cut to interest rates will come from the Fed after minutes of the last meeting showed some governors strongly opposed to cuts. Earlier in the week, gold had seen gains as concerns grew that a tentative deal between the United Kingdom and the European Union will again be blocked by a hostile Parliament. British Prime Minister Boris Johnson said he reached a deal for an orderly departure from the European Union, though doubts remain that he can get Parliament’s approval for the pact, particularly after the Northern Irish Democratic Unionist party said it would not support the deal. Meanwhile, copper prices rose, ending Friday’s session at $2.60 and the week, up 0.57%. The gains came on the back of upbeat Chinese data on property and infrastructure growth. Property investment in the East Asian country grew 10.5% in the first nine months of 2019, infrastructure investment rose 4.5% and industrial output beat expectations at 5.8% in September. Analysts are optimistic that China will implement more stimulus measures in Q4 to spark further growth in the real estate and infrastructure sectors.

In agricultural commodities,  wheat rose for seven weeks in a row, and on Thursday hit a three-month high,  as cold weather in the US grain belt threatened supplies of the grain.  On the other hand, dry weather in other countries like Argentina and Australia is expected to lower world wheat supplies. Wheat ended the week up 4.12%, closing the Friday session at a price of $5.32 per bushel. Meanwhile, soybeans were down 0.05% for the week, and closed Friday at $9.34 per bushel; and corn for December delivery fell 1.95% in the week and settled at $3.91 per bushel in Friday’s session. Other commodities were mostly weaker: cocoa was down 1.27% for the week and closed Friday’s session at $2,486 per tonne; sugar had a weekly decline of 0.81% and settled at a price of $0.12 per pound on Friday; and coffee was around $0.96 per pound at Friday’s close, up 2.52% for the week.

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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.

USO002079 Ex. 12/31/2019