GraniteShares offers investors the opportunity to go long or short on BP and Shell through its 3x leveraged and short ETPs on these stocks, and its analysis reveals seven times more leveraged interest than short interest.
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Will Rhind, Founder and CEO at GraniteShares
The fund manager says this reflects investors expecting the price of oil to rise further on the back of the Middle East crisis.
Since Hamas launched an unprecedented attack on Israel on Saturday 7 October, the price of Brent Oil has increased by 10%. The share prices of BP and Shell have increased by 9% and 6% respectively over this period.
Investors in GraniteShares 3x Long BP ETP have seen returns of 13.7% in the past month and 21.1% year to date while those in its 3x Short BP ETP have had returns of -16.1% and -54.3% over the same periods. The corresponding figures for the 3X Long Shell ETP and SX Short Shell ETP are 15.1% and 35.9%, and -15.5% and –50.2% respectively. These products are listed on the London Stock Exchange.
Will Rhind, Founder and CEO of GraniteShares, said: “The price of oil has rallied on fears that the Israel-Hamas conflict could widen into the oil-producing region. The price of Brent Crude Oil is over $93 and could climb much higher if there is no improvement in the situation in the Middle East, or if it gets worse
Source: ETFWorld.co.uk
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