Oil inventories are being ignored, the focus now is on the steadily decreasing rig counts in the US.
Oil is back.
There is no limit to your potential loss here with this ETF.
Anyone that does not see the huge upside coming here may as well put money in a savings account and get out of the market.
ALL of the ugly news is baked in and digested, now its up to a recovering oil market to correct the ugliness.