if oil keeps rising an exchange traded fund might be worthwhile
FT.com / Home UK - First oil ETF to launch in London
oh wow... this may take take off like a rocket.
The world's first oil-backed exchange traded fund (EFT) is due to be listed on the London Stock Exchange at the end of the month, providing an investment vehicle that closely tracks the oil price without having to trade in the futures market or buy oil company shares. [...]
Each unit of the ETF equates to a barrel of oil, with the price settled in US dollars. Citigroup and UBS have an exclusive arrangement to be the market makers for the ETFs for 12 months. The oil securities are backed by oil contracts sold by Shell Group with an initial supply of 40m barrels.
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