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Van Eck Global launches Market Vectors Oil Refiners ETF


Van Eck Global has launched the Market Vectors Oil Refiners ETF (CRAK), the first US-listed ETF to offer pure-play exposure to global oil refiners.

CRAK seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Global Oil Refiners Index (ticker: MVCRAKTR). To be included in the index, companies must generate at least 50 per cent of their revenues from crude oil refining and meet certain size and liquidity requirements.
“The profitability of refiners is generally influenced by the spread between the cost of crude oil and the prices at which refined products can be sold, commonly known as crack spreads,” says Brandon Rakszawski (pictured), product manager at Van Eck Global. “Oil refiners have tended to react differently to the price of oil compared to other energy sector companies. Historically, the return profile is differentiated from other segments of the sector, a trend that has persisted year-to-date.”
Van Eck notes that an investment in CRAK incurs risks associated with refining companies, such as changes in commodity prices, exchange rates and the price of oil and gas, government regulations, the imposition of import controls, and natural disasters, all of which may adversely affect the Fund.

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