Bloomberg News

U.S. Oil Fund Discount at 0.02 Percent on March 13

March 13, 2012

The U.S. Oil Fund, the largest exchange-traded fund in crude oil, closed at a discount of 0.02 percent on March 13, 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 May delivery rose 40 cents, or 0.37 percent, to $107.24 a barrel on the New York Mercantile Exchange on March 13.

================================================================================
                       March 13 March 12
                           2012     2012
================================================================================
                         --------------------Per Share-----------------------
Premium/discount         -0.02%    0.05%
Net Asset Value          $40.83   $40.67
Closing price            $40.82   $40.69
                         ------------Quantity of Fund Holdings---------------
NYMEX Futures            11,781   11,781
================================================================================
                       March 13 March 12
                           2012     2012
================================================================================
                         ------------Quantity of Fund Holdings---------------
ICE WTI                   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: Sarina Yoo in Seoul at kyoo3@bloomberg.net

To contact the editor responsible for this story: Alex Tanzi at atanzi@bloomberg.net


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