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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

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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

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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

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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.

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: Optimism for US-China Trade Deal Fuels Gains for Crude, Drives Gold Lower

(MT Newswires) – Crude ended Friday’s session and week higher, on media reports of a partial trade deal between the US and China, which augured well for oil demand globally. “Good things are happening” in the trade meeting with China, President Donald Trump had tweeted early on Friday. Bloomberg later reported the partial agreement could lay the groundwork for a broader deal Trump and China President Xi Jinping could sign later this year, according to people familiar with the matter.

Separately, a top official from the Organization of the Petroleum Exporting Countries (OPEC) signaled the producers’ cartel was prepared to leave no stone unturned to balance the energy market.  CNBC quoted OPEC Secretary-General Mohammad Barkindo as saying Thursday all options are on the table, including a deeper supply cut in production, to balance oil markets. He expected a decision on production strategy at a December meeting among members of the largely Middle Eastern cartel and non-OPEC producers, led by Russia. These developments helped the oil market outweigh the negative impact of a closely watched OPEC report released on Thursday that cut the outlook for growth in oil demand for the rest of 2019 to 980,000 barrels a day, a reduction of 40,000 barrels per day from an estimate set out in September.

Stockpiles of commercial crude in the US advanced for the fourth consecutive week but at a slower pace than in the previous week. The Energy Information Administration said the inventories rose by 2.9 million barrels in the week through Oct. 4 to reach 425.6 million barrels, in line with the five-year average for this time of year. A week earlier, the stockpiles were up by 3.1 million barrels, the government data showed. The American Petroleum Institute on Tuesday said crude supplies climbed by 4.1 million barrels over the same span.  And, the number of oil rigs operating in the US rose by two to 712 in the week that ended on Oct. 11, still hovering at its lowest level since May 2017, according to data compiled by energy services firm Baker Hughes (BHGE). The combined oil and gas rig count in the US rose by one to 856 as gas rigs fell by one to 143.

Light, sweet crude oil for November delivery rose 3.11% for the week, settling at $53.55 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 4.15% over the five-day period and settled at $1.62 per gallon on Friday. Natural gas was down 5.36% for the week, ending Friday at $2.22 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) gained 2.03% this week, compared with a decline of 1.01% the prior week.

Meanwhile, the optimism for a potential end to the 15-month trade war between the world’s two largest economies drove gold lower, ending Friday in negative territory at $1,500.90. For the week, the yellow metal fell 1.25%.  On the other hand, copper rose higher following the upbeat trade news, closing Friday’s session at a settlement price of $2.61, and ending the week up 2.24%.  In other commodities news, S&P Global Ratings had lowered its guidance for copper prices for the year 2020, citing diminishing global trade flows as well as expectations for a slowdown in global economic growth.

In agricultural commodities, Chinese buyers have ramped up their orders for soybeans among other agricultural products from the US, as part of the ongoing trade negotiations. The US Department of Agriculture reported Thursday that 400,000 metric tons of new soybean purchases have been made, bringing the total to nearly 5 million metric tons bought by the Chinese so far this marketing year. Soybeans were up 1.99% for the week and closed Friday at $9.36 per bushel. Among other grains, wheat ended the week up 3.82%, closing the Friday session at a price of $5.08 per bushel; and corn for December delivery rose 3.44% in the week and settled at $3.98 per bushel in Friday’s session. Other commodities were weaker: coffee was around $0.94 per pound at Friday’s close, down 5.28% for the week; cocoa was down1.53% for the week and closed Friday’s session at $2,506 per tonne; and sugar had a weekly decline of 2.82% and settled at a price of $0.12 per pound on Friday.

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

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

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

Investing involves risks, including loss of principal.

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

Please read any Prospectus carefully before investing.

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

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

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

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

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

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002060 Ex. 12/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Ends Lower on WTO Downgrade of Trade Growth Forecast, Weak Manufacturing and Services Data; Gold Rescued by Lukewarm Jobs Data

(MT Newswires) – Crude ended Friday’s session higher but closed the week lower, as pressure on oil producers increased after the World Trade Organization (WTO) said earlier in the week escalating trade tensions and a slowing global economy have led its economists to “sharply downgrade” forecasts for trade growth in 2019 and 2020.  The energy market was also undermined by pessimism emanating from the service and manufacturing sectors.  On Tuesday, the Institute for Supply Management (ISM) reported manufacturing data that came in at the worst level since after the financial crisis in 2009.  The ISM said manufacturing activity fell by 1.3 points to 47.8% — below the 50% print expected in a survey of economists by Econoday. Expansion in the services sector also slowed sharply from August. Meanwhile, commercial crude stockpiles increased for a third consecutive week in a build that was bigger than the previous period. The Energy Information Administration said the inventories rose by 3.1 million barrels through Sept. 27 to reach 422.6 million barrels. A week earlier, the stockpiles were up 2.4 million barrels. The American Petroleum Institute on Tuesday reported a 5.9 million-barrel drop in crude oil stocks. And data compiled by Baker Hughes (BHGE) showed the number of oil rigs operating in the US fell by three to 710 in the week ended on Oct. 4, declining for the seventh consecutive week to the lowest level since May 2017. The combined oil and gas rig count in the US dropped by five to 855 as gas rigs fell by two to 144.

Light, sweet crude oil for November delivery fell 5.93% for the week, settling at $52.45 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 2.29% over the last five days and settled at $1.56 per gallon on Friday. Natural gas was down 1.67% on the week, ending Friday at $2.33 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.49% for the week, compared with a decline of 0.46% the prior week.

Gold was in the red at the end of Friday’s session, although it maintained a level above $1,500, closing at $1,513.80, following optimistic comments from President Donald Trump regarding next week’s US-China trade talks. However, the yellow metal ultimately rose for the week, up 0.46% after a mixed employment situation report.  September nonfarm payrolls rose 136,000 versus the 145,000 expected and the unemployment rate fell to 3.5%, the lowest since 1969 against an expected and prior 3.7%. While the numbers were arguably tepid at best and helped temper rising worries of a deeper slowing in global economic growth, they were not enough to offset disappointing manufacturing and private employment data out earlier in the week.  Meanwhile, copper ended the week down 1.35% and closed Friday at a settlement price of $2.55, due mostly to low trading volumes from China — the largest copper consumer — with markets closed for most of the week to celebrate the 70th anniversary of Communist Party rule with the founding of the People’s Republic of China.

In agricultural commodities, the US Department of Agriculture (USDA) reported on Thursday that export sales of US soybeans for the week ending Sept. 26 were at 2.076 million metric tons, above trade insiders’ expectations for 900,000 to 1.4 million metric tons. The USDA also confirmed private sales of 252,000 metric tons of US soybeans to China for shipment in the 2019/2020 marketing year. Soybeans were up 3.74% for the week, and closed Friday at $9.16 per bushel. Among other grains, wheat ended the week up 0.77%, closing the Friday session at a price of $4.90 per bushel; and corn for December delivery rose 3.49% in the week and settled at $3.85 per bushel in Friday’s session. Other commodities were mixed: coffee was around $0.99 per pound at Friday’s close, down 1.99% for the week; cocoa was down 0.48% for the week and closed Friday’s session at $2,475 per tonne; and sugar had a weekly increase of 1.19% and settled at a price of $0.13 per pound on Friday.

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

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

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

Investing involves risks, including loss of principal.

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

Please read any Prospectus carefully before investing.

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

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

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

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

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

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002060 Ex. 12/31/2019

USCF logo

Weekly Commodities ETF Report: Crude Closes Lower on Supply Issues, Lingering Slowdown in Demand; Gold Slips Despite Stocks’ Weakness Due to Impeachment, US-China Trade Worries

(MT Newswires) – Crude ended both Friday’s session and the week lower, as Saudi Arabia’s crude production recovered faster than expected after the drone attacks last week. Traders are also keeping a close eye on Iran and the US sanctions imposed on the Middle Eastern country after the US and Saudi Arabia tagged it as the one responsible for the attacks. On Friday, Iranian President Hassan Rouhani claimed that the US offered to lift the sanctions if the two countries engaged in talks, but this was denied by US special representative for Iran Brian Hook. Concerns over lower global crude demand due to a slowdown in China’s economic growth also continue to linger. China is the biggest importer of crude oil. Along the same lines, the International Energy Agency (IEA) raised the possibility of lowering its estimates for global oil demand for 2019 and 2020 if there is a worsening in the global economy. Back home, the Energy Information Administration said US crude inventories rose by 2.4 million barrels to reach 419.5 million barrels in the week through Sept. 20, matching the five-year average for this time of year. A week earlier the stockpiles rose 1.1 million barrels. The American Petroleum Institute on Tuesday reported a build of 1.4 million barrels for the week ending Sept. 20. Meanwhile, the number of oil rigs operating in the US fell by six to 713 during the week ended Sept. 27, the lowest level since May 2017, according to data compiled by energy services firm Baker Hughes (BHGE). The combined oil and gas rig count in the US dropped by eight to 860 as gas rigs fell by two to 146.

Light, sweet crude oil for November delivery fell 3.84% for the week, settling at $56.41 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 4.68% over the five-day period and settled at $1.62 per gallon on Friday. Natural gas was down 5.33% for the week, ending Friday at $2.44 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.46% on the week, compared with a decline of 0.97% the prior week.

Gold rose earlier in the week, initially benefitting from weakness in US equities, which were weighed by political drama as an impeachment inquiry was launched against President Donald Trump, on the basis

of a whistleblower report released Thursday. The report surrounded Trump’s solicitation of Ukraine’s interference for his personal political benefit in the 2020 US election. Additionally, the White House is accused of trying to cover evidence about the conduct. Also casting a shadow on market sentiment was news that Washington is looking into limiting the portfolio flows of US investors into China, which could possibly derail the scheduled trade talks between the world’s two largest economies. However, the yellow metal ultimately declined for the week, down 1.34%, as the US dollar strengthened, although gold remained above the key $1,500 level, closing Friday’s session at $1,515.20. Meanwhile, copper managed to eke out modest gains, ending the week up 0.23% and closed Friday at a settlement price of

$2.58 despite downbeat industrial economic data from China. Industrial profits in mainland China fell 2% in August year-over-year, according to the National Bureau of Statistics, from an increase of 2.6% in the prior-year period.

In agricultural commodities, China is expected to boost its purchases of soybeans from the US in step with the high-level trade negotiations between the US and China in early October, according to a report on Bloomberg. Citing Chinese agricultural consultant and Chairman of Shanghai JC Intelligence Co., Li Qiang, the report said China could buy another 1 million to 2 million tons of soybeans. Earlier in the week, the customs commission in China said it will continue exempting certain US agricultural products, including soybeans and pork, from additional duties in support of Chinese companies importing those products and as a response to the US’ tariff exemptions on more than 400 types of Chinese exports.

Soybeans were up 0.09% for the week and closed Friday at $8.83 per bushel. Among other grains, wheat ended the week up 0.46%, closing the Friday session at a price of $4.87 per bushel; and corn for December delivery rose 0.27% in the week and settled at $3.72 per bushel in Friday’s session. Other commodities were higher: coffee was around $1.00 per pound at Friday’s close, up 2.24% for the week; cocoa was up 0.61% for the week and closed Friday’s session at $2,490 per tonne; and sugar had a weekly increase of 4.39% and settled at a price of $0.13 per pound on Friday.

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

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc. Investing involves risks, including loss of principal.

Commodity ETP Disclosures: Download a copy of a Fund’s Prospectus by clicking one of the following: USCI, USO, USL, USOU, USOD, BNO, UNG, UNL, 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.

USO002052 Ex. 11/30/2019

USCF logo

Weekly Commodities ETF Report: Crude Surges Amid Geopolitical Tensions After Attacks on Saudi Oil Facilities; Gold Back Above $1500 On Uncertainty Over Future Rate Cuts

(MT Newswires) – Crude ended the week higher amid geopolitical tensions in the aftermath of last weekend’s attacks on two major oil facilities in Saudi Arabia. Saudi and US officials have alleged that the attack was perpetrated by Iran. On Wednesday, US President Donald Trump ordered increased sanctions against Iran rather than a military strike for its role in the Saudi attack, which had cut the country’s daily production output by 5.7 million barrels. There were expectations that the disruption would affect the global oil supply, but Saudi Arabia was able to restore its oil supply sooner than anticipated.  Saudi Energy Minister Prince Abdulaziz bin Salman was quoted by Reuters as saying that over half of the damaged production was restored in just two days after the attack. By Friday, the US had sanctioned the Iranian national bank, with US Treasury Secretary Steven Mnuchin saying the sanctions are “very big” and remove the last source of funding for Iran. Back home, the Energy Information Administration reported a 1.1 million-barrel rise in crude stocks. The street had been expecting a 2.25 million-barrel decrease, though the American Petroleum Institute reported a 600,000-barrel build after the close on Tuesday.  And the number of oil rigs operating in the US plunged by 14 to 719 during the week ended Sept. 20, the lowest level since May 2017, according to data compiled by energy services firm Baker Hughes. The combined oil and gas rig count in the US dropped by 18 to 868 as gas rigs fell by five to 148.

Light, sweet crude oil for October delivery rose 5.96% for the week, settling at $58.13 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 8.77% over the last five days and settled at $1.70 per gallon on Friday. Natural gas was down 3.13% for the week, ending Friday at $2.54 per 1 million British thermal unit.  

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) increased 0.88% this week, compared with an increase of 0.61% in the prior week.

Gold saw declines during the first half of the week following the US Federal Reserve’s expected interest rate cut, but worked back above the psychological price of $1,500, ending the Friday session at $1,506.20. For the week, the yellow metal rose 1.87%. The votes of the Federal Open Market Committee of the US central bank were not unanimous, leaving a cloud of uncertainty on the next easing of policies. The FOMC cut interest rates with a vote of 7-3, the second time the interest rates were trimmed in 2019. Following a divided vote among the members of the committee, concerns on the future of the easing on monetary policy were raised, also considering the strong state of the US’ labor market.

Meanwhile, copper was in negative territory, ending the week down 4.18% and closing Friday at a settlement price of $2.61. The World Bureau of Metal Statistics reported that the global consumption of the red metal fell to 13.29 million tonnes in the January – July period, down from 13.78 million tonnes in the same period last year. Demand from China –the largest consumer of the industrial metal — fell by t3.9% to 6.754 million tonnes. Demand from the European Union also declined by 6% to 1.885 million tonnes.

In agricultural commodities, wheat ended the week up 0.41%, closing the Friday session at a price of $4.84 per bushel. The boost in prices came amid concerns over crop harvests due to spring rains. The rains in the US have slowed down the wheat harvest for the spring season, and the resulting wet conditions have brought to light some possible quality issues for the crops. Among other grains, soybeans were down 1.78% for the week, and closed Friday at $8.83 per bushel; and corn for December delivery rose 0.47% in the week and settled at $3.71 per bushel in Friday’s session. Other commodities were mixed: coffee was around $0.98 per pound at Friday’s close, down 4.00% for the week; cocoa was up 6.41% for the week and closed Friday’s session at $2,473 per tonne, and sugar had a weekly increase of 1.17% and settled at a price of $0.12 per pound on Friday.

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

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

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

Investing involves risks, including loss of principal.

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

Please read any Prospectus carefully before investing.

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

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

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

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

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

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002049 Ex. 11/30/2019

USCF logo

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

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

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

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

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

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

 

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

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

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

Investing involves risks, including loss of principal.

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

Please read any Prospectus carefully before investing.

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

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

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

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

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

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002046 Ex. 10/31/2019

USCF logo

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

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

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

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

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

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

 

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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.

USO002041 Ex. 10/31/2019