|Bid||48.40 x 1200|
|Ask||48.41 x 3000|
|Day's Range||47.84 - 48.66|
|52 Week Range||24.75 - 49.46|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||45.48%|
|Beta (5Y Monthly)||2.63|
|Expense Ratio (net)||0.83%|
Brent crude, which acts as the global benchmark for oil, was up 49 cents, or 0.7%, to $74.48 per barrel by 12:35 PM ET (16:35 GMT). West Texas Intermediate crude, the benchmark for U.S. oil, rose 19 cents, or 0.3%, to $72.31 per barrel. Oil prices have been on a tear lately amid projections for one of the biggest ever summer demand periods for fuel in the United States as the country reopens fully from Covid-19 lockdowns.
This sector of the market seemed ripe for ETFs, but the promise has died on the vine.
After a gain of more than 20% in the first quarter that resulted in a bull market, crude prices have basically spent the past month-and-a-half range-bound, experiencing a greater number of plunges than spikes. Often, the slumps had more to do with Covid or global macro situations than being oil-centric — though one could argue that they were related. India, the world’s third biggest oil consumer, meanwhile remains the fastest growing Covid hotspot with daily records of new infections and deaths.