iPath S&P GSCI Crude Oil Ttl Ret Idx ETN (OIL)

[JohnCM]

Barclays to liquidate oil ETN

Apr. 21, 2020 9:49 AM ET|About: iPath S&P GSCI Crude Oil To... (OIL)|By: Liz Kiesche, SA News Editor

Barclays will redeem in full its iPath Series B S&P GSCI Crude Oil Total Return Index ETNs (OIL -29.8%) on April 30, 2020 and will suspend any further sales or issuance of the ETN as of today.

A premium developed in the trading price of the ETNs as the closing trading price of the ETNs on April 20, 2020 was $3.73, which represents a premium of ~13.5% over the closing indicative value of the ETNs on that date.

The move comes after May WTI crude contracts made history yesterday by plunging into negative territory; June WTI contracts are down 29% to $14.47 per barrel today.

Previously: U.S. Oil Fund approaching zero as all remaining shares issued (April 21)