Global X S&P Crude Oil Futures Enhanced ER ETF (03097.HK) Rises 3.43% Intraday as EIA Crude Stocks Post Steepest Drop since February

NewTimeSpace News: As of 10:28 on October 16, the Global X S&P Crude Oil Futures Enhanced ER ETF (03097.HK) rose 3.43% to a latest price of HK$10.110. The ETF has traded 2,600 units so far today for a turnover of HK$26,305 at an average price of HK$10.117, with a turnover rate of 0.027%. It is up 6.70% so far this week. Its current net asset value per unit is HK$9.8984, and its assets under management stand at HK$96.51 million.

(Note on scope: the net asset value per unit and assets under management are as of October 14, 2026; the week-to-date change is measured against the closing price of HK$9.475 on October 9.)

On the news front, data from the US Energy Information Administration showed that US commercial crude inventories fell 8.557 million barrels to 415.6 million barrels in the week to October 9, far exceeding market expectations and marking the steepest weekly decline since February, mainly as Hurricane Isaias knocked out a large part of Gulf of Mexico output. Middle East shipping risks persist: the US Central Command confirmed that the Singapore-flagged container ship that sank in the Strait of Hormuz earlier this week was struck by an Iranian projectile. On the back of this, WTI crude futures rose about 3% on October 15 and are up more than 5.5% for the week; on the other hand, the International Energy Agency agreed to release the remaining 100 million barrels of its March-pledged reserves as soon as possible, including 20 million barrels of diesel, capping the upside for oil prices.

The Global X S&P Crude Oil Futures Enhanced ER ETF (03097.HK) closely tracks the S&P GSCI Crude Oil Futures Enhanced Extra Return Index. As a futures-based ETF, the fund adopts a full replication strategy, directly investing in WTI crude oil futures contracts of different maturities traded on the New York Mercantile Exchange, entering contracts on a monthly basis and using no more than 20% of net asset value as margin; not less than 80% of net asset value is invested in cash and short-term investment-grade government bonds, and income after paying expenses may be distributed at the manager's discretion.

Guotou Futures believes the crude oil market is caught between bulls and bears: the sharp inventory drawdown and geopolitical conflicts provide strong bottom support, while gasoline stock builds and the IEA release cap the upside, and oil prices are likely to stay firm with volatility in the short term, with the evolution of the geopolitical situation remaining the dominant variable.