Top commodity index S&P GSCI hikes WTI weight, cuts Brent for 2013

Mon Nov 5, 2012 10:47pm GMT
 

NEW YORK, Nov 5 (Reuters) - The S&P GSCI index, one of two
leading commodity indices for investors, will boost the share of
U.S. WTI crude oil futures by 6.25 percentage points next
year while cutting European benchmark Brent by 4
percentage points, owner S&P Dow Jones Indices said on Monday.
    The changes in crude oil weights, the only significant
adjustments in this year's rebalancing of the 24 components, is
a reversal of last year's trends, when many indices added Brent
or boosted its share. But production of Brent-type crudes is
diminishing, while U.S. oil output is growing swiftly.
    The index will maintain its "investment support level"
unchanged at $230 billion. That represents the maximum level of
potential investment based on underlying liquidity in the
futures markets where the components trade.
    Here is a list of the Reference Percentage Dollar Weights
for the index, which are dtermined by their production. They are
ranked by scale of change in percentage points vs 2011.
    
                       2013       2012  Change Vs 2012
 WTI Crude           30.96%     24.71%           6.25%
 Kansas Wheat         0.88%      0.68%           0.20%
 Live Cattle          2.71%      2.62%           0.09%
 Sugar                1.90%      1.85%           0.05%
 Cotton               1.12%      1.07%           0.05%
 Gold                 3.05%      3.00%           0.05%
 Soybeans             2.63%      2.62%           0.01%
 Coffee               0.83%      0.82%           0.01%
 Natural Gas          2.03%      2.02%           0.01%
 Zinc                 0.52%      0.51%           0.01%
 Cocoa                0.23%      0.23%           0.00%
 Nickel               0.58%      0.58%           0.00%
 Silver               0.49%      0.49%           0.00%
 Aluminum             2.12%      2.13%          -0.01%
 Lead                 0.38%      0.40%          -0.02%
 Corn                 4.66%      4.69%          -0.03%
 Feeder Cattle        0.49%      0.52%          -0.03%
 LME Copper           3.24%      3.28%          -0.04%
 Lean Hogs            1.52%      1.58%          -0.06%
 Chicago Wheat        3.04%      3.22%          -0.18%
 Gas Oil              8.11%      8.56%          -0.45%
 RBOB Gasoline        5.02%      5.90%          -0.88%
 Heating Oil          5.13%      6.17%          -1.04%
 Brent Crude         18.35%     22.34%          -3.99%
 
 (Reporting By Jonathan Leff; editing by Carol Bishopric)

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