BLBG:U.S. Oil Fund Discount at 0.38 Percent on Sept. 14
The U.S. Oil Fund, the largest exchange-traded fund in crude oil, closed at a discount of 0.38 percent on Sept. 14, according to figures on the fund’s website. A discount means that the closing price of the shares is lower than the value of its underlying holdings in the fuel.
Crude oil for November delivery fell $1.27, or 1.41 percent, to $89.01 a barrel on the New York Mercantile Exchange on Sept. 14.
================================================================================
Sept. 14 Sept. 13 Sept. 12
2011 2011 2011
================================================================================
--------------------Per Share-----------------------
Premium/discount -0.38% -0.26% 0.61%
Net Asset Value $34.47 $34.96 $34.20
Closing price $34.34 $34.87 $34.41
------------Quantity of Fund Holdings---------------
NYMEX Futures 8,870 8,676 8,676
================================================================================
Sept. 14 Sept. 13 Sept. 12
2011 2011 2011
================================================================================
------------Quantity of Fund Holdings---------------
ICE WTI 6,000 6,000 6,000
================================================================================
NOTE: The fund aims to track the price of West Texas Intermediate delivered to Cushing, Oklahoma. The ETF buys the near-month contract, then rolls forward by selling it before expiration and buying the following month.
SOURCE: United States Oil Fund
To contact the reporter on this story: Daniel Petrie in Sydney at dpetrie5@bloomberg.net
To contact the editor responsible for this story: Alex Tanzi at atanzi@bloomberg.net
