The United States Oil Fund has gained 58% since the U.S.-Israel war with Iran began at the end of February, more than double the gain of WTI crude futures. Flows into and out of the largest U.S. oil commodity ETF have been volatile as traders react to Middle East developments and official rhetoric.
The United States Oil Fund has climbed by 58% since the start of the Iran war, more than double the gain of WTI crude futures. The fund, the largest U.S. oil commodity exchange-traded fund, has outpaced gains in crude prices through a whirlwind of activity since the U.S.-Israel war with Iran started at the end of February.
However, flows into and out of USO have been volatile during the tensions and the market sentiment tied to the Middle East, said Frank Walbaum, market analyst at trading platform Naga.com. Traders reacted to what Walbaum called erratic developments on the ground and to the rhetoric from U.S. and Iranian officials.
USO invests in West Texas Intermediate futures, the U.S. benchmark, and offers investors a route into prices for light, sweet U.S. crude oil. The fund has also outpaced gains in WTI crude oil futures so far this year.
Source: MarketWatch (snippet-based)
Trading involves risk.
Risk Disclaimer
