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"The RBS Oil Trendpilot™ Exchange Traded Notes (RBS ETNs) are unsecured and senior obligations of The Royal Bank of Scotland plc (RBS plc), and are fully and unconditionally guaranteed by The Royal Bank of Scotland Group plc (RBS Group). Any payments on the RBS ETNs when they become due at maturity or upon early repurchase or redemption are dependent on the ability of RBS plc and RBS Group to pay, and are also subject to market risk. The return on the RBS ETNs will be based on the performance of the RBS Oil Trendpilot™ Index (USD) (the “Index”), which utilizes a systematic trend-following strategy to provide exposure to either the RBS 12-Month Oil Total Return Index (USD) (the “Benchmark Index”, described below) or the yield on a hypothetical notional investment in 3-month U.S. Treasury bills as of the most recent weekly auction (the “Cash Rate”), depending on the relative performance of the Benchmark Index on a simple historical moving average basis."
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Wednesday, Mar 1210:49 AM
Wednesday, Mar 1210:49 AM| 1 Comment
- The release of 5M barrels is a test, says the government, to check for proper operations and infrastructure. Offers to buy are due by 2 ET on Friday.
- Oil was nicely lower today already and dipped further on the news, but has since returned to where it was before the release hit the wires, -1.4% to $98.66 per barrel.
- The latest EIA report released just minutes ago shows crude inventories up by 6.2M barrels last week.
- USO -1.2%
- ETFs: USO, OIL, UCO, SCO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM, TWTI
Monday, Mar 33:17 AM
Monday, Mar 33:17 AM| 16 Comments
- U.S. Secretary of State John Kerry is traveling to Kiev today to "reaffirm the United States' strong support for Ukrainian sovereignty" as Russian troops take control of Crimea and threaten a full-scale invasion. In response, Ukraine has mobilized its reserves.
- The U.S. has threatened to isolate Russia economically and is considering a range of sanctions unless it withdraws from Ukraine, including freezing assets, visa bans, action against banks and even expulsion from the G8. However, some European countries rely on Russia for energy so forging a widespread agreement on sanctions could be tough.
- All sides are examining a get-out option for Russia that would involve sending international observers to Crimea and eastern Ukraine to protect the rights of ethnic Russians - one of Vladimir Putin's ostensible reasons for seizing Crimea - under any new government in Kiev.
- The crisis has sent Russian markets tumbling and prompted the country's central bank to temporarily hike interest rates to 7% from 5.5%. The USD-RUB is +1.2% to 36.457 after earlier hitting 36.65. The broad ruble-based MICEX stock index is -9.4% and the dollar-based RTS is -11.1%.
- ETFs: RSX, RUSL, ERUS, RUSS, RSXJ, RBL, RUDR, GUR, ESR, USO, OIL, UCO, SCO, DBO, DTO, BNO, CRUD, USL, DNO, UWTI, SZO, DWTI, OLO, OLEM, TWTI,UNG, DGAZ, UGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, GASX, NAGS, DCNG
Thursday, Feb 273:46 PM
Thursday, Feb 273:46 PM| 2 Comments
- Oil refiners are getting hit today as Brent crude falls to its lowest price in more than a week on rising tensions in Ukraine, shrinking the premium to West Texas crude to the narrowest level since October.
- Given Ukraine’s location, the country's situation obviously will impact Brent more than WTI; meanwhile, WTI’s losses are limited after U.S. government data yesterday showed crude supplies at Cushing, Okla., declining to a four-month low.
- Phillips 66 (PSX -2.8%) has dropped 3.5% YTD, while Delek US (DK -5.3%) has plunged 17%, Valero (VLO -4.3%) has slipped 3.8%, Holly Frontier (HFC -3.1%) has fallen 8.2% and Marathon Petroleum (MPC -4.4%) is off 8.5% in 2014.
- Other decliners today: TSO -1.5%, ALJ -5.4%, WNR -4.2%, CVI -3.4%, CLMT -0.7%.
- ETFs: USO, OIL, UCO, SCO, DBO, DTO, BNO, CRUD, USL, DNO, UWTI, SZO, DWTI, OLO, OLEM, TWTI
Friday, Jan 108:58 AM
Friday, Jan 108:58 AM| 4 Comments
- Commodities have their tails in the air following the slow payroll number, with gold up 1% to 1,240 per ounce, silver up 2.2% to $20.80, copper gaining 1.2%, and crude oil ahead 1.7% to $93.21.
- With this morning's gain, gold is up more than 3% on the year.
- Related ETFs: GLD, SLV, USO, IAU, AGQ, OIL, PHYS, UCO, SIVR, USLV, ZSL, SGOL, UGL, DGP, SCO, GLL, JJC, DZZ, DBO, DTO, UGLD, DGL, DSLV, DBS, CRUD, DGZ, AGOL, GLDI, DGLD, USL, SLVO, DNO, TBAR, SZO, UWTI, USV, OILZ, UBG, CPER, DWTI, OLO, CUPM, OLEM, TWTI
Wednesday, Jan 82:45 PM
Wednesday, Jan 82:45 PM| Comment!
- A smaller-than-expected draw on crude supplies is today's excuse for selling as WTI crude slips 1.4% to $92.33 per barrel - a six-week low.
- Crude stocks fell 2.7M barrels in the week ended January 3, says the EIA, less than the expected 3.3M decline.
- WTI crude hasn't been below $90 per barrel since April.
- USO -1.4%
- Products: UGA -1%, UHN +0.2%
- Crude oil ETFs: USO, OIL, UCO, SCO, DBO, DTO, BNO, CRUD, USL, DNO, SZO, UWTI, OILZ, DWTI, OLO, OLEM, TWTI
Friday, Jan 311:24 AM
Friday, Jan 311:24 AM| Comment!
- Mildly supportive EIA inventory numbers aren't enough to pull oil out of a big slide begun just before the new year. Off 1% today to $94.50 per barrel, February WTI crude was over $100 on December 27. USO -1.3%.
- Natural gas is steady as the EIA reports a 97 bcf draw on inventories. Total stocks of 2.974 tcf are off 562 bcp from a year ago, and 289 bcf below the 5-year average. UNG +0.3%.
- Crude ETFs: USO, OIL, UCO, SCO, DBO, DTO, BNO, CRUD, USL, DNO, SZO, UWTI, OILZ, DWTI, OLO, OLEM, TWTI
- Nat gas ETFs: UNG, UGAZ, GAZ, BOIL, DGAZ, UNL, KOLD, NAGS, GASZ, DCNG
Friday, Dec 272013, 10:19 AM
Friday, Dec 272013, 10:19 AM| Comment!
- Airline stocks dip in early trading after a government report shows U.S. crude oil supplies stayed in a downward trend. Violence in the South Sudan has also been a recent factor in oil prices.
- Besides the prospect for higher prices for aviation fuel, the airline sector was ripe to blow off a little steam after rallying before and after the merger of American Airlines and U.S. Airways, note analysts.
- Decliners: United Continental (UAL) -3.2%, Delta Air Lines (DAL) -2.6%, Spirit Airlines (SAVE) -2.4%, JetBlue (JBLU) -1.5%, American Airlines (AAL) -1.5%, Southwest Airlines (LUV) -1.3%.
- Related Oil ETFs: USO, OIL, UCO, SCO, DBO, DTO, CRUD, USL, DBE, UHN, RJN, DNO, SZO, OILZ, UWTI, DWTI, OLO, JJE, RGRE, ONG, OLEM, TWTI, UBN.