Top U.S. oil ETF plans to diversify investment in later-dated oil contracts

📆 23/04/2020 02:10:00
📰 Reuters

⏱ Reading Time:
29 sec. here
2 min. at publisher
📊 Quality Score:
News: 15%
Publisher: 97%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

The United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, may begin investing in oil futures contracts expiring in several months, rather than just the front-month and second-month contract, it said in a filing https://bit.ly/2XWrj3L%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B on Wednesday.

FILE PHOTO: Natural gas flares are seen at an oil pump site outside of Williston, North Dakota March 11, 2013. REUTERS/Shannon Stapleton/File Photo

U.S. crude markets have been roiled by oversupply and dwindling demand in the wake of diminished economic activity due to the global coronavirus outbreak. Crude storage has grown scarce as a result. Nearer-term contracts are trading at sharply lower prices than later-dated ones, a departure from the norm.

USO was last trading 10.0% lower at $2.53 despite front-month U.S. crude futures’ settling 19.1% higher, at $13.78 a barrel. The fund traded at a steep premium to its net asset value on Tuesday after it suspended the creation of new shares.

Écrire un Commentaire

Why dont you shove your oil where the sun dont shine. Back in the ground and one other place you dirty people.

Your mom

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

What plunging crude prices mean for the market's largest oil ETFTwo ETF analysts break down the action in the United States Oil Fund (USO), which has seen outsized trading volumes in recent days. ETFEdgeCNBC What Say You? PetroDollar: Oil Brent WTI $WTIC $OIL $CL_F OOTT
La source: CNBC - 🏆 12. / 72 Lire la suite »