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In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.
Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy
into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending
on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial
Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will
rise and fall in value pretty much the same amount as the Dow or S&P.
You can also buy ETFs that invest in other
types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few
years, so there is no shortage of ETFs to invest in.
Home / Markets / Commodities
Tuesday, August 12, 2008
IEA: Oil Prices Will Remain High
Associated Press
PARIS--Oil prices will remain high despite their recent drop and are weighing on demand, especially in developed countries, the International Energy Agency said Tuesday.
The Paris-based energy watchdog said in its monthly report that it's too early to say whether the recent fall in oil prices is the start of a longer-term trend, as demand in developing countries could still offset declines in developed nations that are part of the Organization for Economic Cooperation and Development, or OECD.
"Oil demand data are coming in weaker on an underlying trend basis," the report said. "This only reinforces the view that high prices are beginning to play a central role in determining demand, at least for the OECD countries."
Although crude futures have fallen 20% from their early July highs, the price "remains high by any measure, sustaining inflationary concerns, not least in developing importer countries," the IEA said.
Oil prices fell Tuesday in Asia to a 3-month low as a stronger dollar and weakening crude demand from China weighed on investor sentiment.
Light, sweet crude for September delivery fell 65 cents to $113.80 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract lost 75 cents overnight to settle at $114.45 a barrel, the lowest close for a floor session since May 1.
The IEA barely lowered its forecast for OECD oil product demand this year by 16,000 barrels a day to 48.6 million barrels a day, down 1.3 % from 2007. The agency forecast a further 1.1 % decline in OECD oil product demand next year.
"While OECD demand could still surprise us on the downside, non-OECD prospects, particularly for China and the Middle East Gulf, could be subject to upside adjustment," the IEA report said.
"Add in customarily ever-changing sentiment over Iran, and it looks too early to cite definitively a sea change in the market," the report said.
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