USCF logo

Weekly Commodities ETF Report: Crude Sinks as US Approves Exemptions to Ban on Iran Crude Imports; Hopes for US-China Trade Deal Lifts Copper, Soybeans

(MT Newswires) – Crude ended Friday’s session with sharp losses, hovering near seven-month lows, as the US agreed to waivers for eight jurisdictions to continue to import Iranian crude following the imposition of sanctions next week. Even with these exemptions, expectations are for a supply contraction of 500,000 barrels per day in Iranian exports, which will help in balancing the effect of the crude oversupply that the market has been seeing, and bringing the market back into balance, according Jefferies, in a note to clients. The issue of oversupply has remained in the forefront, especially following recent data that indicates OPEC’s October output is at its highest level since November 2016. This is coupled with a strong build in oil inventories in the US. The Energy Information Administration reported Wednesday that weekly crude oil inventories in the US rose 3.22 million barrels, less than the 4.11 million barrels gain expected. This also compares with the American Petroleum Institute’s report last Tuesday that US crude supplies rose by 5.7 million barrels last week, more than analyst forecasts for a 4.1 million-barrel build. The last bit of data for the week is Baker Hughes’ (BHGE) report late Friday that the number of oil rigs operating in the US fell by one to 874 in the seven-day period ending Nov. 2. The combined oil and gas rig count in the US also fell by one to 1,067 as gas rigs were flat at 193.

Light, sweet crude oil for December delivery had a weekly decline of 6.97%, settling at $63.14 per barrel at the end of Friday’s session. In other energy futures, gasoline declined during the week, slumping 6.14% lower and settling at $1.71 per gallon on Friday. Meanwhile, natural gas rose 0.21% this week and was up Friday at $3.31 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.86% this week, from a decline of 0.04% in the previous week.

Gold ended the Friday session lower, settling at $1,233.30 and ended the week down 0.07%, as the dollar strengthened on upbeat economic data throughout the week. The yellow metal sank to a three-week low on Wednesday after upbeat US consumer confidence data. According to the Conference Board on Tuesday, US consumer confidence increased to 137.9 in October, hitting its highest level since September 2000. Economists had expected the consumer confidence index to drop to 136.3. On Thursday, gold enjoyed a brief rebound as the dollar index eased on reports of progress in Brexit negotiations. The UK and EU negotiators entered into a tentative deal on all aspects of a future partnership on services, as well as the exchange of data, the Times reported. By Friday, however, gold had given up those modest gains after the dollar traded higher once again following a report that US job growth rebounded sharply in October and wages recorded their largest annual gain in nine and a half years. Meanwhile, copper ended Friday’s session higher at $2.81, and gained 2.46% for the week. The red metal’s prices had fallen to a six-week low Tuesday on continuing concerns that the trade war between the US and China would restrict demand for industrial metals. However, copper had risen sharply after President Donald Trump tweeted on Thursday that he had a conversation with China President Xi Jinping that went well, saying the two had discussed trade. Trump added that he was optimistic about a trade deal. Bloomberg then reported Friday that Trump had requested a drafting of a US-China trade accord. Although Larry Kudlow, top economic adviser to Trump, refuted the report, Trump reassured reporters late Friday that the two countries are much closer to a trade deal. According to UK-based brokerage Kingdom Futures, the copper rally Friday is a “hint” of what effect a trade deal would have on the metals market.

Agriculture commodities ended the week mixed. Sugar had a weekly decline of 2.89% and settled at a price of $0.13 per pound on Friday; coffee was around $1.20 per pound at Friday’s close, up 0.29% for the week; and cocoa rose 1.72% for the week and closed Friday’s session at $2,301 per tonne.  Among grains, soybeans surged 3.41% for the week, closing at $8.88 per bushel on Friday, reaching their biggest weekly gain in six months following news of the possible trade deal between the US and China. Meanwhile, wheat rose 0.74% on the week and settled at $5.09 per bushel at the end of Friday’s session; and corn was up 0.68% in the week and settled at $3.71 per bushel in Friday’s session. The US Department of Agriculture released its baseline projections for 2019, saying that corn will become the most widely planted US crop next year. Corn acreage is expected to expand by 3%. Based on normal weather and yields. The USDA is expecting corn plantings of 92 million acres, which would result in  14.93 billion bushels, the second-largest ever. The USDA also noted how corn prices have strengthened, suggesting that the crop is more profitable than soybeans, which continue to be affected by trade developments. Corn prices are expected to improve for the 2019 crop.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 0.88% for the week, compared with an incease of 0.27% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

USCF logo

Weekly Commodities ETF Report: Crude Sinks as Supply Concerns Resurface, US Production Hits New Record

(MT Newswires) – Crude ended Friday’s session in negative territory, declining for a tenth consecutive day, on renewed supply concerns as the US oil rig count jumped the most in six months along with weekly production in the US that hit a new record as inventories surged. The number of oil rigs operating in the US jumped by 12 to 886, which is also the highest level since March 6, 2015, according to data from Baker Hughes (BHGE). The combined oil and gas rig count in the US surged by 14 to 1,081 as gas rigs also climbed by two to 195. On Wednesday, the Energy Information Administration reported that crude inventories in the US increased by 5.8 million barrels in the week ended Oct. 2, rising much more than forecasts. This compares with the American Petroleum Institute’s report last Tuesday that US crude stocks climbed by 7.8 million barrels in the week ending Nov. 2 to 432 million. Earlier in the week, prices had risen following market chatter that ministers from the Organization of Petroleum Exporting Countries and its allies will discuss the possibility of cutting production again next year to support prices at $70 a barrel in its meeting in Abu Dhabi this Sunday. However, those gains melted as rising output and fears of a drop in crude demand due to economic slowdown weighed on the commodity once again. Crude oil’s current losing streak is reportedly its longest over three decades.

Light, sweet crude oil for December delivery had a weekly decline of 4.80%, settling at $60.19 per barrel at the end of Friday’s session. In other energy futures, gasoline declined during the week, slumping 5.01% lower and settling at $1.62 per gallon on Friday. Meanwhile, natural gas rose 11.89% this week and was up Friday at $3.72 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.92% this week, from a decline of 1.86% in the previous week.

Gold closed the Friday session lower, settling at $1,208.60 and ended the week down 1.97%, recording its biggest weekly fall in more than two months, as the US dollar gained in strength on the back of the Federal Reserve’s statement that it would continue to raise interest rates gradually. The greenback’s gains were also spurred by inflation data, which showed the US producer price index to have increased by a more than expected 0.6% in October, raising prospects of a rate hike in December. With more rate increases very likely in the coming year as well, the dollar has been moving higher against most major currencies. On Thursday, the Federal Reserve left interest rates unchanged, citing realized and expected labor market conditions and inflation. The central bank reiterated that it expects further gradual increase in interest rates will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near its 2% objective over the medium term. Meanwhile, copper ended Friday’s session at $2.69  per pound, and fell 4.93% for the week, due to worries over a slowdown in the Chinese economy, which would affect demand for materials, especially those used for manufacturing and construction. On Thursday, China reported that its copper imports in October declined 19%. China consumes nearly half the world’s  copper.

Agriculture commodities ended the week lower. Sugar had a weekly decline of 4.91% and settled at a price of $0.13 per pound on Friday; coffee was around $1.14 per pound at Friday’s close, down 5.1% for the week; and cocoa fell 1.00% for the week and closed Friday’s session at $2,287 per tonne. Among grains,wheat fell 1.23% and settled at $5.02 per bushel at the end of Friday’s session; and corn was down 0.47% in the week and settled at $3.70 per bushel in Friday’s session.  Meanwhile, soybeans slipped 0.08% lower for the week, closing at $8.87 per bushel on Friday, as the US Department of Agriculture (USDA) cut its US soybean crop estimates, but said it expects stocks to rise sharply due to the ongoing US- China trade war, which is weighing on exports. The USDA on Thursday said it expects 2018/19 US soybean production at 4.600 billion bushels, down from its previous estimate of 4.690 billion bushels. The agency boosted its estimate of the 2018/19 soybean ending stocks to 955 million bushels, above the average analysts’ estimate of 898 million bushels. It also lowered its export forecasts for the current marketing year to 1.900 billion bushels from 2.060 billion bushels.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) declined 1.59% for the week, compared with an incease of 0.88%in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

 

Get Live Briefs Pro

USCF logo

Weekly Commodities ETF Report: Crude Sinks as US Approves Exemptions to Ban on Iran Crude Imports; Hopes for US-China Trade Deal Lifts Copper, Soybeans

(MT Newswires) – Crude ended Friday’s session with sharp losses, hovering near seven-month lows, as the US agreed to waivers for eight jurisdictions to continue to import Iranian crude following the imposition of sanctions next week. Even with these exemptions, expectations are for a supply contraction of 500,000 barrels per day in Iranian exports, which will help in balancing the effect of the crude oversupply that the market has been seeing, and bringing the market back into balance, according Jefferies, in a note to clients. The issue of oversupply has remained in the forefront, especially following recent data that indicates OPEC’s October output is at its highest level since November 2016. This is coupled with a strong build in oil inventories in the US. The Energy Information Administration reported Wednesday that weekly crude oil inventories in the US rose 3.22 million barrels, less than the 4.11 million barrels gain expected. This also compares with the American Petroleum Institute’s report last Tuesday that US crude supplies rose by 5.7 million barrels last week, more than analyst forecasts for a 4.1 million-barrel build. The last bit of data for the week is Baker Hughes’ (BHGE) report late Friday that the number of oil rigs operating in the US fell by one to 874 in the seven-day period ending Nov. 2. The combined oil and gas rig count in the US also fell by one to 1,067 as gas rigs were flat at 193.

Light, sweet crude oil for December delivery had a weekly decline of 6.97%, settling at $63.14 per barrel at the end of Friday’s session. In other energy futures, gasoline declined during the week, slumping 6.14% lower and settling at $1.71 per gallon on Friday. Meanwhile, natural gas rose 0.21% this week and was up Friday at $3.31 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.86% this week, from a decline of 0.04% in the previous week.

Gold ended the Friday session lower, settling at $1,233.30 and ended the week down 0.07%, as the dollar strengthened on upbeat economic data throughout the week. The yellow metal sank to a three-week low on Wednesday after upbeat US consumer confidence data. According to the Conference Board on Tuesday, US consumer confidence increased to 137.9 in October, hitting its highest level since September 2000. Economists had expected the consumer confidence index to drop to 136.3. On Thursday, gold enjoyed a brief rebound as the dollar index eased on reports of progress in Brexit negotiations. The UK and EU negotiators entered into a tentative deal on all aspects of a future partnership on services, as well as the exchange of data, the Times reported. By Friday, however, gold had given up those modest gains after the dollar traded higher once again following a report that US job growth rebounded sharply in October and wages recorded their largest annual gain in nine and a half years. Meanwhile, copper ended Friday’s session higher at $2.81, and gained 2.46% for the week. The red metal’s prices had fallen to a six-week low Tuesday on continuing concerns that the trade war between the US and China would restrict demand for industrial metals. However, copper had risen sharply after President Donald Trump tweeted on Thursday that he had a conversation with China President Xi Jinping that went well, saying the two had discussed trade. Trump added that he was optimistic about a trade deal. Bloomberg then reported Friday that Trump had requested a drafting of a US-China trade accord. Although Larry Kudlow, top economic adviser to Trump, refuted the report, Trump reassured reporters late Friday that the two countries are much closer to a trade deal. According to UK-based brokerage Kingdom Futures, the copper rally Friday is a “hint” of what effect a trade deal would have on the metals market.

Agriculture commodities ended the week mixed. Sugar had a weekly decline of 2.89% and settled at a price of $0.13 per pound on Friday; coffee was around $1.20 per pound at Friday’s close, up 0.29% for the week; and cocoa rose 1.72% for the week and closed Friday’s session at $2,301 per tonne.  Among grains, soybeans surged 3.41% for the week, closing at $8.88 per bushel on Friday, reaching their biggest weekly gain in six months following news of the possible trade deal between the US and China. Meanwhile, wheat rose 0.74% on the week and settled at $5.09 per bushel at the end of Friday’s session; and corn was up 0.68% in the week and settled at $3.71 per bushel in Friday’s session. The US Department of Agriculture released its baseline projections for 2019, saying that corn will become the most widely planted US crop next year. Corn acreage is expected to expand by 3%. Based on normal weather and yields. The USDA is expecting corn plantings of 92 million acres, which would result in  14.93 billion bushels, the second-largest ever. The USDA also noted how corn prices have strengthened, suggesting that the crop is more profitable than soybeans, which continue to be affected by trade developments. Corn prices are expected to improve for the 2019 crop.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 0.88% for the week, compared with an incease of 0.27% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

USCF logo

Weekly Commodities ETF Report: Crude Edges Lower as Markets Cautious on Iran Sanctions, Oversupply Concerns; Gold Logs Modest Gains Following Sharp Sell-Off in Stocks

(MT Newswires) -Crude ended Friday’s session higher, rebounding from losses earlier this week. Traders continue to be cautious ahead of Iran sanctions despite Saudi Arabia reassuring markets on oil supply and recent data showing a sharp build in American crude inventories. Saudi Arabia’s Oil Minister Khalid al-Falih recently said that the kingdom has no intention of an oil embargo on Western consumers, despite the current crisis following allegations that it murdered journalist Jamal Khashoggi. The minister added that Saudi Arabia would work to increase supply. Back home, the Energy Information Administration reported Wednesday that crude oil inventories in the US had a build of 6.3 million barrels in the week to Oct. 19, exceeding analysts’ forecasts by a significant margin. This also compares with the American Petroleum Institute’s report last Tuesday that US commercial crude inventories had risen by 9.88 million barrels for the same week. Following these reports, there has been speculation that the market could well be heading into oversupply in the fourth quarter.  The last bit of data for the week is Baker Hughes’ (BHGE) report late Friday that the number of oil rigs operating in the US rose by two in the week to 875, and that compares with 737 in operation in the same period of 2017. The tally is at the highest levels since early March 2015.

Despite ending Friday with gains and closing the session at $67.59 per barrel, light, sweet crude oil for December delivery had a weekly decline of 2.69%. In other energy futures, gasoline declined during the week, slumping 5.08% lower and settling at $1.81 per gallon on Friday. Meanwhile, natural gas fell 1.43% this week and was down Friday at $3.23 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.04% this week, from a decrease of 0.94% in the previous week.

Gold ended the Friday session modestly higher, settling at $1,235.80 and ended the week up 0.46%. Seeking refuge from risk, investors poured into safe havens, driving gold up to its highest level since July and dragging the yield on the 10-year Treasury note down by another 5 basis points to a three-week low. The yellow metal is  benefitting from its safe-haven status after Wall Street suffered its biggest one-day fall since 2011 earlier this week. The sharp sell-off in equities was sparked by concerns over earnings, Italian government finances and escalating trade tensions. Meanwhile, copper ended Friday’s session lower at $2.74, and fell 1.19% for the week  The red metal’s prices continued to trade lower even as its outlook brightened somewhat: according to a Reuters poll, copper prices are on track to rebound by next year, as more robust supply/demand fundamentals are expected to offset macro-economic concerns. The Reuters report cited comments from analyst firm ABN AMRO, which noted that copper prices will see an increase once trade war concerns ease and better Chinese economic figures are reported. And although copper shortages are still possible next year, analysts have lowered forecasts for a global copper deficit to 44,000 tonnes from an earlier estimate of 151,000 tonnes.

Agriculture commodities ended the week mostly lower. Sugar had a weekly decline of 1.15% and settled at a price of $0.14 per pound on Friday; coffee was around $1.20 per pound at Friday’s close, down 1.92% for the week; and cocoa rose 4.12% for the week and closed Friday’s session at $2,251 per tonne.  Among grains, corn was up 0.61% in the week and settled at $3.68 per bushel in Friday’s session; soybeans fell 1.47% for the week, closing at $8.58 per bushel on Friday; and wheat fell 1.75% and settled at $5.05 per bushel at the end of Friday’s session. Wheat saw its greatest weekly decline since early September as expectations for higher wheat exports from Russia pressured US wheat prices. Additionally, the International Grains Council on Thursday raised its forecast for global wheat production after China released improved outlook for its wheat crop. The council now sees wheat production at 728.8 million tonnes, up from a previous forecast of 716.7 million tonnes.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 0.27% for the week, compared with an decline of 1.05% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

USCF logo

Weekly Commodities ETF Report: Crude Rebounds for the Week as Iran Sanctions Come Back Into Focus

(MT Newswires) – Crude ended Friday’s session higher, recovering from losses earlier this week. Oil had come under pressure, sinking to five-week lows, after the Energy Information Administration reported Wednesday that crude supplies in the US logged an increase of 6.5 million barrels, a far larger than expected and the fourth consecutive weekly increase. This compares with the American Petroleum Institute’s report last Tuesday that US commercial crude inventories had a draw of 2.13 million barrels. But crude rebounded by Friday as investors shifted their focus back to the impending US sanctions on Iran’s oil exports, which will come into force on Nov. 4. Oil supplies could also be affected by any sanctions that the US may impose on Saudi Arabia with US politicians speaking of sanctioning Saudi officials found culpable in the killing of US journalist Jamal Khashoggi. The kingdom already said that if it receives any action, it would respond with greater action. US President Donald Trump said on Thursday, he presumes Khashoggi had likely been killed and that the US response to Saudi Arabia will likely be “very severe.” The last bit of data for the week is Baker Hughes’ (BHGE) report late Friday that the number of oil rigs operating in the US rose by four to 873, climbing for a second week to the highest level since March 6, 2015. The combined oil and gas rig count in the US climbed by four to 1,067 as gas rigs rose by one to 194 but miscellaneous barrels slipped by one.

Over the last five days, light, sweet crude oil for November delivery was down 3.09%, settling at $69.12 per barrel at the close of Friday’s session. In other energy futures, gasoline declined during the week, edging 1.71% lower and settling at $1.91 per gallon on Friday. Meanwhile, natural gas rose 2.40% this week and was up Friday at $3.39 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.94% this week, from an decrease of 1.2 % in the previous week.

Gold ended the Friday session lower, settling at $1,228.70 and eventually ended the week up 0.66%. On Thursday, the yellow metal logged gains despite the US dollar rising to a one-week high on hawkish Fed minutes. The minutes of the Federal Reserve’s latest policy meeting indicated that the US central bank is staying the course on rate hikes, despite President Donald Trump calling it the “biggest threat” to his presidency. Meanwhile, copper ended Friday’s session higher at $2.78, and fell 1.07% for the week  The red metal’s prices were pressured by the increase in the US dollar, and tracked Chinese stock markets lower following expectations for a slowdown in global economic growth. Chinese Premier Le Keqiang had said that China’s economy faces increasing downward pressure amid an ongoing trade war with the US.

Agriculture commodities ended the week mostly mixed. Sugar had a weekly increase of 6.27% and settled at a price of $0.14 per pound on Friday; coffee was around $1.22 per pound at Friday’s close, up 4.38% for the week; and cocoa rose 0.09% for the week and closed Friday’s session at $2,162 per tonne.  Among grains, wheat fell 0.77% and settled at $5.15 per bushel at the end of Friday’s session, while corn was down 1.88% in the week and settled at $3.67 per bushel in Friday’s session. Meanwhile, soybeans fell 1.30% for the week, closing at $8.57 per bushel on Friday. This decline is the biggest loss for the commodity since mid-September, after low US. exports and improved harvest weather drove prices lower. The US Department of Agriculture put export sales of US soybeans in the latest week at 295,600 tonnes, below trade expectations.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) fell 1.05% for the week, compared with an increase of 1.1% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

USCF logo

Weekly Commodities ETF Report: Crude Oil Caps Volatile Session With Slim Friday Gains While Gold Climbs Amid Global Economic Uncertainty, Corn Firms as Trump Pushes Year-Round E15

(MT Newswires) – Crude ended Friday’s session higher, as fears of disruptions to global oil supplies helped offset growth worries. An uptick in crude’s prices came on the heels of the news that Hurricane Michael made landfall along the Gulf Coast on Wednesday as a category 4 storm. Following hurricane warnings, offshore producers including Anadarko Petroleum, BHP Billiton, BP and Chevron reportedly evacuated workers from 13 oil and gas platforms in the Gulf — this is expected to cut oil production in the Gulf by about 40%. Meanwhile, the International Monetary Fund (IMF) predicted Iran’s economy would contract over the next two years due to reduced oil production as US sanctions targeting Iran’s crude oil exports come into force on Nov. 4. However, it forecast increased growth in Saudi Arabia and its oil-rich neighbors in the Gulf on the back of higher oil production. Back home, the Energy Information Administration on Thursday reported that commercial crude inventories in the US increased by 6.0 million barrels from the previous week. This compares with the week earlier build of 8 million barrels and the American Petroleum Institute’s report Wednesday looking for a major build of 9.75 million barrels. Finally, Baker Hughes (BHGE) said late Friday the number of oil rigs operating in the US rose by eight to 869, the biggest advance in 10 weeks.

Over the last five days, light, sweet crude oil for November delivery was down 3.8%, settling at $71.34 per barrel at the close of Friday’s session. In other energy futures, gasoline declined during the week, edging 6.8% lower and settling at $1.940 per gallon on Friday. Meanwhile, natural gas rose 2.7% this week but was down Friday at $3.088 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.2% this week, from an increase of 0.97% in the previous week.

Gold ended the Friday session lower as equities recovered from sharp selling, settling at $1.222 but eventually ended the week up 1.2%. The yellow metal slipped lower on Tuesday to a one-week low as the US dollar hit a seven-week high; gold, however, edged higher mid-week, benefitting from its safe- haven status as traders shunned equities amid mounting concerns over a budget showdown between Italy and the EU and on worries about a slowing Chinese economy. Concerns over Italy’s budget have eased somewhat following a statement from the country’s finance minister, reassuring traders that the government will do all it can to restore market confidence. Meanwhile, China’s currency slipped past a psychological bulwark as the IMF lowered its forecast for Chinese economic growth in 2019 to 6.2% from 6.4%, citing “negative effect of recent tariff actions.”

On the other hand, copper ended Friday’s session higher at $2.8005, and rose 2.01% for the week.

Agriculture commodities ended the week mostly mixed. Sugar had a weekly increase of 3.9% and settled at a price of $0.1312 per pound on Friday; coffee was around $1.165 per pound at Friday’s close, up 6.7% for the week; and cocoa climbed 6.3% for the week and closed Friday’s session at $2,160 per tonne. Among grains, wheat fell 1% and settled at $5.17 per bushel at the end of Friday’s session, while soybeans slipped 0.2% for the week, closing at $8.68 per bushel on Friday. Meanwhile corn was up 1.4% in the week and settled at $3.74 per bushel in Friday’s session, following President Donald Trump’s directive to allow the year-round sale of a higher concentration of ethanol in gasoline — a move that would benefit corn farmers, who have been affected by a slump in corn prices as a result of the US-China trade war. Trump is pushing to make available E15, or gasoline with 15% ethanol, throughout the year, hoping that it will expand biofuels and in turn, help farmers by spurring sales of ethanol. E15 had been banned in summer months due to smog concerns.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 1.1% for the week, compared with an increase of 1.63% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro on Your Platform

USCF logo

Weekly Commodities ETF Report: Crude Extends Weekly Gains on Supply Concerns Ahead of US Sanctions on Iran; Gold Rises as Dollar Weakens Following Sept Payrolls Report

(MT Newswires) -Crude ended Friday’s session higher, as the oil market grappled with the spare capacity needed to replace Iranian barrels next month. Although Russia and Saudi Arabia reportedly made a secret pact in September to increase output until December to partially make up for the loss of Iranian oil, it is feared that with little spare capacity at their disposal, OPEC and major non-OPEC producers may not be able to offset the likely drop in supply from early November. These supply concerns outweighed a surge in US inventories that was above what analysts had forecast in a weekly survey. The Energy Information Administration on Wednesday reported that crude supplies in the US surged by almost 8 million barrels last week, the biggest jump since March 2017. The increase was four times the level of expectations in a Reuters’ survey of analysts. This compares with the American Petroleum Institute’s report last Tuesday that US commercial crude inventories rose by 907,000 barrels to 400.9 million. Finally, Baker Hughes (BHGE) said late Friday the number of oil rigs operating in the US fell by two to 861. The combined oil and gas rig count in the US also slipped by two 1,052 as gas rigs were flat at 189.

Over the last five days, light, sweet crude oil for November delivery was up 1.09%, settling at $74.34 per barrel at the close of Friday’s session. In other energy futures, gasoline declined during the week, edging 0.15% lower and settling at $2.09 per gallon on Friday. Meanwhile, natural gas rose 5.03% this week but was down Friday at $3.14 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 0.97% this week, from an increase of 1.04% in the previous week.

Gold ended the Friday session higher, settling at $1,205.60 and eventually ending the week up 0.95%. The yellow metal bounced back from losses earlier in the week as the dollar weakened a bit after data showed the US economy saw a less-than-expected addition in employment in September.  The US Labor Department said that nonfarm payroll employment climbed by 134,000 jobs in September, while economists had expected an increase of about 185,000 jobs. The unemployment rate fell to 3.7% in September from 3.9% in August. Economists had expected the unemployment rate to edge down to 3.8%.  On the other hand, copper ended Friday’s session lower at $2.76, and fell 1.48% for the week.  The red metal’s prices were pressured by news that the Chinese manufacturing sector had slowed down in September on weaker domestic and international demand, showing the initial effects of US tariffs on China’s economy. The official China Federation of Logistics and Purchasing’s monthly purchasing managers index revealed that manufacturing activity decelerated to 50.8 from August’s 51.3.

Agriculture commodities ended the week mostly mixed. Sugar had a weekly increase of 12.68% and settled at a price of $0.13 per pound on Friday; coffee was around $1.09 per pound at Friday’s close, up 6.54% for the week; and cocoa fell 0.78% for the week and closed Friday’s session at $2,024 per tonne.  Among grains, wheat fell 2.45% and settled at $5.21 per bushel at the end of Friday’s session, while corn was up 3.23% in the week and settled at $3.68 per bushel in Friday’s session, hitting a two-month high as a forecast for rains sparked concerns over harvest delays. Heavy rains are expected across much of the western and central Midwest over the next week, likely affecting mature corn in major producing states including Iowa, Illinois and Minnesota. Meanwhile, soybeans rose 2.96% for the week, closing at $8.69 per bushel on Friday, following the Commerce Department’s report on the US trade deficit, reflecting an increase in imports and a decrease in exports. The data said the trade deficit widened to $53.2 billion in August from a revised $50.0 billion in July. Exports slipped 0.8% to $209.4 billion in August. Soybeans are among exported products that saw the sharpest decline, with shipments falling 28% due to retaliatory foreign tariffs on US crops.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 1.63% for the week, compared with an increase of 1.00% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

USCF logo

Weekly Commodities ETF Report: Crude Higher As Trump Puts Pressure on OPEC to Lower Crude Prices Ahead of Meeting

(MT Newswires) – Crude ended Friday’s session higher, extending gains from earlier in the week, when prices rose to a two-month high following the Energy Information Administration’s report that crude oil inventories dropped 2.057 million barrels last week, short of a 2.74-million-barrel decline expected by analysts. This compares with the American Petroleum Institute’s report last Tuesday that showed crude inventories rose by 1.2 million barrels last week. Meanwhile, Baker Hughes (BHGE) reported Friday that the active US rig count was down by one to 866 after last week’s jump, but still well above the year-earlier level of 744. Another factor in the uptick in crude prices is the anticipated decline in Iranian supplies as US sanctions against the Middle Eastern country take full effect in November. Traders are looking ahead to the meeting between the Organization of the Petroleum Exporting Countries and its allies at Algeria this weekend, to discuss production increases as US sanctions restrict Iranian exports. On Thursday, US President Donald Trump called on OPEC to lower oil prices, piling up pressure on the cartel.

Over the last five days, light, sweet crude oil for October delivery rose 3.05%, settling at $70.78 per barrel at the close of Friday’s session. In other energy futures, gasoline rose during the week, up 1.91% and settled at $2.00 per gallon on Friday. Meanwhile, natural gas rose 8.37% this week and was up Friday at $297 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.75% higher this week, from an increase of 0.10% in the previous week.

Gold ended the Friday session lower, settling at $1,201.30 but ended the week 0.41% higher. The US dollar sank to a three-month low on Thursday, but by Friday the greenback moved up amid easing worries over the US-China trade war’s impact on the global economy. Traders are looking ahead to the Federal Reserve’s monetary policy meeting next week. It is widely expected that the Federal Reserve will certainly hike rates by a quarter of a point next week. The focus will really be on the central bank’s views on future hikes. On the other hand, copper ended Friday’s session higher at $2.86, and rallied 8.99% for the week as trade tensions between the US and China eased. Traders are also seeing signs of a sustained global deficit as well as an improved outlook for market fundamentals.

Agriculture commodities ended the week mostly mixed. Sugar had a weekly decline of 2.66% and settled at a price of $0.12 on Friday; coffee was around $0.99 per pound at Friday’s close, essentially flat with the prior week; and cocoa fell 2.84% for the week and closed Friday’s session at $2,167.  Among grains, corn was up 1.78% in the week and settled at $3.57 per bushel in Friday’s session; and wheat increased 2.10% and settled at $5.21 per bushel at the end of Friday’s session. Meanwhile, soybeans rose 2.32% for the week, closing at $8.47 per bushel on Friday.  This is the biggest weekly gain in a month for soybeans after strong demand helped prices recover from a 10-year low. The US Department of Agriculture reported that weekly US soybean export sales topped 900,000 tonnes, exceeding trade expectations. However, lingering concerns over the US-China trade spat could still cap soybean prices.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 1.21% for the week, compared with a decline of 1.20% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Premium Financial News

USCF logo

Weekly Commodities ETF Report: Metals, Soft Commodities Lower on Inflation Data, Deteriorating US-China Trade Talks; Crude Bucks Downward Trend on Drop in US Supplies

(MT Newswires) – Most commodities were in the red amid tame inflation data released Friday as well as mixed developments in the ongoing trade war between the US and China. On Wednesday, US Treasury Secretary Steven Mnuchin reportedly sent an invitation for talks to senior Chinese officials, proposing a meeting in the next few weeks. However, a tweet from President Donald Trump on Thursday denied claims made in the Wall Street Journal that the US is under pressure to make a deal with Beijing. Trump added that the US “will soon be taking in billions in tariffs.” By Friday, Trump had told aides to go ahead with the latest round of trade restrictions — $200 billion in tariffs against Chinese imports — dimming the possibility for productive trade talks to proceed.

Gold ended the Friday session lower, and settling at $1,201.10; likewise, it ended the week 0.23% lower, reversing gains from earlier in the week. Gold had reached one-month highs as the US dollar turned weak after data released by the Labor Department showed a modest increase in US consumer prices in the month of August. The lower-than-expected increase in inflation may prompt the Federal Reserve to stop with just one more rate hike this year, meaning there may not be a rate hike in December. However, the dollar subsequently recovered some lost ground and the yellow metal pared its gains. On the other hand, copper ended Friday’s session lower at $2.65, and was down 0.08% for the week, as the uncertainty surrounding the trade talks between Washington and Beijing continued to spark fears that metals demand from China would decline more than expected. Despite an increase in Chinese industrial output, traders are concerned that the trade dispute would affect China’s growth. These fears have helped push copper prices lower — down about 20% from June highs. China is the largest metals consumer, and copper is extensively used in power and construction industries.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) edged 0.10% higher this week, from a decline of 1.14% in the previous week.

Agriculture commodities ended the week mostly lower, led by grains. Sugar had a weekly increase of 0.18% and settled at a price of $0.11 on Friday; coffee was around $1 per pound at Friday’s close, ending the week down 2.44%; and cocoa fell 1.73% lower for the week and closed Friday’s session at $2,219.  Among grains, corn was down 4.35% in the week and settled at $3.52 per bushel in Friday’s session; and soybeans fell 1.72% for the week, closing at $8.31 per bushel on Friday. Meanwhile, wheat declined 0.24% and settled at $5.12 per bushel at the end of Friday’s session. This is the second weekly drop for wheat after the US Department of Agriculture raised its monthly supply and demand report forecast for the Russian wheat harvest to 71 million tonnes, from the prior forecast of 68 million tonnes. The increase in the USDA’s expectations came as no surprise for traders, as a drought in Europe has sparked fears of export curbs.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) fell 1.20% for the week, compared with a decline of 0.51% in the prior week.

Bucking the downward momentum of most commodities, crude ended Friday’s session higher, following the Energy Information Administration’s report of a notable drop in crude inventories in the US. It reported that crude oil inventories dropped by 5.296 million barrels in the week ended Sept. 7, much more than what analysts had expected. This compares with the American Petroleum Institute’s report last Tuesday that showed crude inventories decreased by 8.636 million barrels last week. Meanwhile, it is feared that hurricane Florence, which is striking South and North Carolina and causing flooding and power interruptions, may result in the shutting down of Colonial Pipeline. As people stocked up gasoline ahead of the storm, demand for crude shot up. To make up for the shortfall in supply due to sanctions against Iranian oil, US President Donald Trump has been encouraging Russia and Saudi Arabia to increase crude output. On the other hand, the International Energy Agency reported that global oil supply reached a record high of 100 million barrels per day in August. Output from OPEC countries and Russia rose to a nine-month high. However, the agency noted that production may drop going forward due to falling output from Iran and Venezuela. The last bit of data come from Baker Hughes (BHGE), which reported Friday that active US rig count was at 867 in the week, up from 860 a week earlier and compared with 749 in the same period of 2017.

Over the last five days, light, sweet crude oil for October delivery rose 1.61% higher, settling Friday at $68.99 per barrel. In other energy futures, gasoline rose during the week, up 0.30% and settled at $1.96 per gallon at the close of Friday’s session. Meanwhile, natural gas fell 1.36% this week and was down in Friday at $2.75 per 1 million British thermal unit.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

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

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor 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.

Please read the Prospectus carefully before investing.

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.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

USCF logo

Weekly Commodities ETF Report: Crude Higher on Risk of Supply Disruptions; Gold Rallies on Weaker Dollar as Fed Reiterates Plans for Interest Rate Hikes

(MT Newswires) – – Crude ended Friday’s session in positive territory as investors assessed the risk of supply disruptions amid a strike in the North Sea oil and gas fields. A scheduled industrial action over working rotas will go ahead, UK union Unite said in a statement, after talks between French oil refiner total and workers on three of its North Sea oil and gas platforms broke down on Thursday. Supply concerns have also mounted, with US sanctions against Iranian oil exports set to take full effect in November. It is expected the sanctions could significantly impact global supply and exhaust the world’s spare oil capacity. Prices have also been supported by shrinking US crude inventories. Supply data from the Energy Information Administration showed domestic crude supplies fell by 5.8 million barrels for the week ended Aug. 17. This compares with the American Petroleum Institute’s report last Tuesday that U.S. crude supplies fell by 5.2 million barrels. And, Baker Hughes (BHGE) reported active US rigs count fell by nine to 860 — the biggest drop in more than two years. This compares with 869 in the prior period, and 759 in the same period of 2017. Overall US count, including gas rigs, contracted by 13 to 1,044, but that’s still above the year ago tally of 940.

Over the last five days, light, sweet crude oil for October delivery jumped 5.09%, at $68.72 per barrel. In other energy futures, gasoline rose during the week, up 4.67% and settled at $1.98 per gallon at the close of Friday’s session. Meanwhile, natural gas fell 1.22% this week and was down Friday at $2.91 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 0.84% this week, from an increase of 0.44% in the previous week.

Gold ended the Friday session higher, settling at $1,213.30. Except for modest losses in Thursday’s session, the yellow metal saw positive momentum to end the week higher, up 1.69% on the back of the dollar’s decline. The US dollar sank to a three-week low as market participants digested US Federal Reserve Chairman Jerome Powell’s Jackson Hole, Wyo. speech. Powell said more increases in the benchmark US lending rate were likely if the recent strong pace of growth in wages and jobs continued. The Federal Open Market Committee’s consensus is the “gradual process of normalization remains appropriate” as marked by rate hikes and a decline in the assets bought during the financial crisis to shore up the world’s biggest economy, Powell said. Earlier this week, US President Donald Trump reiterated his criticism of the Fed’s monetary policy, saying he was “not thrilled” with the Fed for raising rates. It remains to be seen whether Powell would respond to Trump’s criticism. On the other hand, copper ended Friday’s session higher at $2.72 and closed the week up 1.31% — its best weekly end since the end of July, with traders shrugging off the lack of progress in the US-China trade negotiations. The optimism generated by the trade talks between the two largest global economies earlier this week fizzled, as another round of tariffs from both countries were implemented.

Agriculture commodities ended the week mixed. Sugar had a weekly increase of 0.69% and settled at a price of $0.10 on Friday; coffee was at $1.04 per pound at Friday’s close, ending the week mostly flat; and cocoa jumped 9.96% higher for the week and closed Friday’s session at $2,364.  Among grains, corn was down 4.22% in the week and settled at $3.62 per bushel in Friday’s session; and soybeans fell 4.82% for the week, closing at $8.55 per bushel on Friday. Meanwhile, wheat fell 7.64% for the week — its worst week in the last two years — and settled at $5.36 per bushel at the end of Friday’s session. U.S. export sales of wheat have slowed down, with the U.S. Department of Agriculture reporting that exports were at 239,800 tons, below a range of trade expectations for 450,000 to 850,000 tons. Despite this, some traders have projected a lift in wheat prices due to global supply risks. Hot weather in other wheat-producing countries could affect wheat harvests and production.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) fell 1.74% for the week, compared with an increase of 1.88% in the prior week.

 

Copyright © 2018 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:  USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor 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.

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.

Get Live Briefs Pro