What index does Harvest crude oil track?
Harvest crude oil tracks WTI crude oil prices.
What is WTI crude oil? The origin of WTI crude oil is light crude oil in West Texas, USA. It is one of the three major crude oil pricing benchmarks in the world and plays an important role in the futures market. At present, all crude oil products produced or sold in the United States are based on WTI crude oil.
In April 2020, WTI crude oil fell to negative value, but from the trend of fund net value during this period, Harvest crude oil net value did not fall to negative value. What is the reason? WTI only fell to a negative value in the May contract, while Harvest crude oil will close its position before the expiration date of crude oil futures, and then transfer its position to the contract the following month.