ETFS Short Crude Oil (SOIL) is designed to change each day by minus one times (-1x) the daily percentage change in the DJ-AIG Crude Oil Sub-IndexSM (before fees and adjustments). Therefore if the DJ-AIG Crude Oil Sub-IndexSM falls (or rises) by 1% in one day, then ETFS Short Crude Oil will rise (or fall) by 1%. In addition, an interest component is added each day to give a total return investment.





s7.39 or 4.80P GOOD STARTING POINT. 13 FEB NOW $3.50 or 2.50 half price sorry.

cynic can't agree it will turn only slowly when the recession is seen to have gone.

halifax,

Can you post figures that show that supply is exceeding demand? (and not the US-specific weekly inventories).

All the articles i've seen about global supply and demand, if you go through the figures, do not add up. Ie the OPEC cuts, even those made so far, exceed the drop in demand.

halifax - will agree to disagree on that ..... the converse surely would be that the price only fell because of the actual or imminent recession .... now that is patently not true

martin - one can never really trust those stats, not least because so many producing countries covertly break ranks ..... saudi reckons it only costs them about $3 a barrel to extract from existing wells, but they have no real interest in exporting below $50/60 as that is where their internal budget is pitched ..... extraction in most other countries is very very much more expensive, and they may well not be able to genuinely afford to export at below $50/60 (or more) ... if they do so, it will be for cashflow

martin12 please remember OPEC accounts for only 40% of global production, that is OPEC's problem.

if you add russia to opec, now how much or world production? ..... confess i thought opec's slice was considerably greater than 40%, but certainly saudi has far and away the lowest production costs of any country

cynic do you honestly think Putin would want to join a bunch of squabbling arabs?

that was not the question asked ..,. though one might ask with equal validity as to whether opec would welcome him either!

We have had yet another "bubble" in oil, what next is a far more important question?

for oil? ..... reckon it will settle at about $60/70 by say mid year, and would fully expect a surge in M&A activity before sp of the likes of TLW, HOIL and PMO gets out of hand

one of the anomalies of oil is the huge discount of the front month wti. Morgan etc may predict $25 perhaps at expiry but it is a little academic when the following month may be $10 higher

nymex $36.65 falling.

buy at about $35 is my (aided) guess

thats some tumble today! looking to get out of future spreads and buy ETF's - so is this the main one for going long on crude - just wondering how the price relates to spot price and is this linked to WTI/Nymex or what?

etf's certainly far better for long term holding, no roll over's price erosion etc. and isa benefit.Futures good for playing one off each other

Ted have a look on oil thread on advfn quite a lot on there if you search back re. etf's. It seems that wti march is trading at such a huge discount because the wti depot at Cushing is full partly due to seasonal refinery maintenence, demand, inability to export...

LSE fact sheet may help you Ted.

http://www.londonstockexchange.com/NR/rdonlyres/EAFD26AC-E93F-428E-B6E2-CFA776CE0BB9/0/ETFSFactSheetLeveragedCrudeOil.pdf

Sheds some light on situation...
http://www.thenational.ae/article/20090207/BUSINESS/386867450

march nymex (settles 20 feb) is taking a real hammering again ..... down a further $0.65 to $35.40

http://www.ft.com/cms/s/0/6cc84c30-f867-11dd-aae8-000077b07658.html?nclick_check=1

Falco, yeh already been on there voicing some concerns earlier, it might be that ETF's may suit me better, but miffed its CFD's and dollar quoted, instead of Spreadbet and stirling, i wanted to scalp - still dont know whether to bother, i opened a daily earlier but you have to phone broker for rollover before 7.30pm each day, its all a bit mickey mouse, cos if trades go wrong way they will turn out to be a longer term hold (until oil recovers), therefore ETF's would be favourable for reasons given...
regards