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United States Oil Fund LP V.USO.RT


Primary Symbol: USO

The investment seeks the daily changes in percentage terms of its shares per share NAV to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of a specified short-term futures contract on light, sweet crude oil called the Benchmark Oil Futures Contract, plus interest earned on USOs collateral holdings, less USOs expenses. USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels.


ARCA:USO - Post by User

Post by aweighon Sep 03, 2015 10:38am
121 Views
Post# 24075062

Its a currency issue, we raised C $ 81 Million to build a

Its a currency issue, we raised C $ 81 Million to build a US $ 60 Million plant and at the time the two currencies were a lot closer to Par than they are now so we had a buffer of around $ 20 million to cover cost over runs which is no longer the case.
Guess we should have hedged the currencies or converted enough Canadian into US dollars to cover the US $ 60 Million at the time. Had we converted all $ 81 Million at that time we would still have about US $15 million whereas now we have US $ 0 Million. 
Live and learn I guess.  
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