same happened to me... bought at $32 when oil was $40-41. Reason is cause of the rollover in mid-month into the next months futures contracts that lately have been trading for higher $ than corrent month. Then when that future month becomes the ciurrent month contract it tends to pull back a bit. So basically you're chasing a yo-yo. I also sold yesterday at 31.50 and agree w/your comment may be better just to buy a basket of Oil stocks. This is very tricky when you're dealing w/futures.
I don't think you will get an argument from anyone on that point. The price used to trade 80% the price of oil now it is under 60%. Craziest thing I have ever saw. Liked oil long when it was in the low 30's saw almost zero down side. Then it starts to run and I think, great! Now I am trying to figure out if maybe will start trading downward as oil goes up, ha ha ! I only have some options in this puppy, thank God. I feel bad for some of these guys that have a lot of bucks tied up in her. It is one thing that a stock goes down because of bad earnings, etc.. But when what your betting on goes up over 50% and your price moves only a little bit, boy that stinks, imo..