Bloomberg News

U.S. Oil Fund Premium at 0.05 Percent on Feb. 24

February 26, 2012

The U.S. Oil Fund, the largest exchange-traded fund in crude oil, closed at a premium of 0.05 percent on Feb. 24, according to figures on the fund’s website. A premium means that the closing price of the shares is higher than the value of its underlying holdings in the fuel.

Crude oil for April delivery rose $1.94, or 1.8 percent, to $109.77 a barrel on the New York Mercantile Exchange on Feb. 24.

================================================================================
                        Feb. 24  Feb. 23  Feb. 22  Feb. 21  Feb. 17  Feb. 16
                           2012     2012     2012     2012     2012     2012
================================================================================
                         --------------------Per Share-----------------------
Premium/discount          0.05%    0.29%   -0.20%   -0.15%    0.23%    0.03%
Net Asset Value          $42.00   $41.25   $40.66   $40.65   $39.64   $39.27
Closing price            $42.02   $41.37   $40.58   $40.59   $39.73   $39.28
                         ------------Quantity of Fund Holdings---------------
NYMEX Futures            12,425   12,578   12,081   11,316   11,316   11,316
================================================================================
                        Feb. 24  Feb. 23  Feb. 22  Feb. 21  Feb. 17  Feb. 16
                           2012     2012     2012     2012     2012     2012
================================================================================
                         ------------Quantity of Fund Holdings---------------
ICE WTI                   2,000    2,000    2,000    2,000    2,000    2,000
================================================================================

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


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