Investment thesis
Despite recent oil market correction and dipping net speculative positioning on NYMEX crude oil contracts, the iPath S&P Crude Oil Total Return Index ETN (OIL) remains sustained, following growing tensions in the Middle East and declining crude and refining stocks.
Source: Bloomberg
OIL - iPath S&P Crude Oil Total Return Index ETN
OIL is a proxy of the American crude oil benchmark, West Texas Intermediate ((WTI)) and tracks the performance of its underlying index, the S&P GSCI Crude Oil Total Return Index. The fund offers plain-vanilla oil futures exposure and rolls