US Oil Fund fails to cash in on 2016 crude rally
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Singapore
THE world's most popular oil-tracking exchange traded fund missed out on 2016's big crude rally.
Front-month West Texas Intermediate (WTI) crude futures have gained 45 per cent so far this year as Opec engineered the first global output cut in 15 years. The US Oil Fund LP, an ETF designed to track oil prices that has seen investors pour in nearly US$3 billion in the past two years, only grew 6.6 per cent over the same period.
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