WisdomTree shuts oil ETPs after Shell terminates swap deal
Counterparty departure forces closure of eight oil trackers with $580 million of assets
WisdomTree will redeem eight commodity tracker funds with more than $550 million in combined assets, after its swap counterparty – Shell Trading – terminated the underlying derivatives agreements following recent volatility in oil markets.
The investments being redeemed include exchange-traded products (ETPs) tracking WTI and Brent crude oil futures with expiries from one-month to three years
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