Obviously, the best news for the Market Vectors Russia ETF (NYSE: RSX) and rival Russia exchange traded funds is that Brent oil prices are soaring. Over the past 90 days, the United States Brent Oil Fund (NYSE: USO) is up more than 40 percent, a surge that has lifted RSX by 33.5 percent over the same period.
Russia, the largest oil-producing nation that is not a member of the Organization of Petroleum Exporting Countries (OPEC), prices its oil in Brent terms. Hence, the mention of BNO. The $1.9 billion RSX, the largest Russia ETF trading in New York, reflects the Russian economy's dependence on energy commodities with a 38.5 percent weight to the energy sector. That is more than double the ETF's second-largest sector weight, which ...
/www.benzinga.com/trading-ideas/long-ideas/16/04/7854206/some-good-news-for-russia-etfs alt=Some Good News For Russia ETFs>Full story available on Benzinga.com
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