U.S. Oil Fund told by broker to stop buying oil futures
The U.S. Oil Fund (USO +5.8%) disclosed nowadays that dealer RBC Capital Markets had stopped it from shopping for any more oil futures contracts, in a step that would force it to reduce or modify its operations.
RBC indicated the issue on USO - the world's biggest oil ETF fund - is a end result of its own inner danger management necessities and instructions it has acquired from different regulators inside the U.S., Canada and the U.K.
USO is "still trading and able to rebalance and roll its portfolio," says United States Commodity Funds CEO John Love.
Also, Royal Dutch Shell (NYSE:RDS.A) said it would not act as a provider for WisdomTree, a move that driven the fund manager to close 8 crude-based totally products as well as a carbon rate tracker.
The movements come as brokers re-evaluate the potential dangers deriving from products famous with character investors, after U.S. Oil fees turned negative last month for the first time whilst the benchmark contract for turning in WTI oil in May approached its expiration.
Apple to start reopening stores in Japan this week
Apple (NASDAQ:AAPL) will re-open its two stores in two places at Fukuoka and Nagoya Sakae in Japan on May 27, according to the company’s retail website.READ NEWS
Saudi Airlines to open booking for domestic flights on June 1
Abu Dhabi: Saudi Airlines stated that it will open booking for home and international flights within the coming days. The official internet site of Saudi Airlines stated clients can begin booking home flights on June 1, while reserving for international flights will beginning on September 1.READ NEWS