New ETFs On The Block: Market Vectors Oil Refiners ETF (CRAK)

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Market Vectors, the exchange-traded fund issuing arm of investment management firm Van Eck Global, recently launched a “first-of-its-kind” US-listed ETF that offers a pure play exposure in global refiners. While its common knowledge that US oil and gas producers (in the “upstream”) are bleeding, the story is quite different for oil refiners (in the “downstream”). The refining sector could actually …