U.S. Oil Fund Discount at 0.17 Percent on Nov. 2

The U.S. Oil Fund, the largest exchange-traded fund in crude oil, closed at a discount of 0.17 percent on Nov. 2, 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 December delivery rose 32 cents, or 0.35 percent, to $92.51 a barrel on the New York Mercantile Exchange on Nov. 2.

================================================================================
                         Nov. 2   Nov. 1  Oct. 31  Oct. 28  Oct. 27  Oct. 26
                           2011     2011     2011     2011     2011     2011
================================================================================
                         --------------------Per Share-----------------------
Premium/discount         -0.17%   -1.04%   -0.61%    0.11%   -0.14%    0.69%
Net Asset Value          $35.71   $35.59   $35.97   $36.03   $36.27   $34.82
Closing price            $35.65   $35.22   $35.75   $36.07   $36.22   $35.06
                         ------------Quantity of Fund Holdings---------------
NYMEX Futures             6,816    6,548    6,355    6,355    6,895    6,895
================================================================================
                         Nov. 2   Nov. 1  Oct. 31  Oct. 28  Oct. 27  Oct. 26
                           2011     2011     2011     2011     2011     2011
================================================================================
                         ------------Quantity of Fund Holdings---------------
NYMEX Crude Financial       n/a      n/a      n/a      n/a      n/a      n/a
ICE WTI                   6,000    6,000    6,000    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: Sarina Yoo in Seoul at kyoo3@bloomberg.net

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