|Bid||25.10 x 1000|
|Ask||25.54 x 1200|
|Day's Range||25.06 - 26.15|
|52 Week Range||16.88 - 106.56|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-76.01%|
|Beta (5Y Monthly)||2.50|
|Expense Ratio (net)||0.79%|
When the price of oil fell off a cliff in April, it upended some previously sacrosanct financial-market beliefs. “We always say ETFs have democratized investing and have allowed investors to access just about every asset class, and I’ve always thought that’s wonderful,” said Nate Geraci, president of Kansas City-based advisory The ETF Store. Retail investors piled into the biggest and most visible exchange-traded fund that tracks oil price movements even as the price – and the fund’s share values – careened downward.
One day after large asset managers like BlackRock, State Street, and Invesco unveiled a proposal to more precisely label exchange-traded funds, some industry participants pushed back, calling the idea welcome in general, but misguided in practice.
WTI crude is tumbling, snapping a five-day rally. Yahoo Finance’s Seana Smith and ETF.com managing editor Cinthia Murphy discuss what ETFs to watch in the energy sector amid the coronavirus pandemic.
Canary LLC CEO Dan Eberhart joins Yahoo Finance’s Zack Guzman to discuss how the coronavirus is impacting the energy sector, as WTI crude tumbles amid storage capacity concerns.
The S&P 500 turned slightly positive Monday as big tech and energy shares rose. The advances helped offset earlier declines spurred as mounting concerns that companies would see lasting damage in the aftermath of the coronavirus pandemic spooked market participants.
The April slump in crude oil is continuing to attract speculative buying in May, and the outlook remains bleak with the market having a long way to go before balancing out, analysts say. The risk of storage running out is being offset by the focus on falling production and the expected pick-up in demand, Ole Hansen, head of commodity strategy at Saxo Bank. On Monday, WTI crude oil was trading 4.95% higher at $20.73 at the time of publication. Crude Oil Market Outlook The recent crash in oil demand brought prices below zero in April as storage for the commodity ran out, but this issue is a short-term one. One analyst says the market may be on a path towards balancing but it's not there yet, with surplus still running high."Optimism spread in the crude oil market in the second part of last week, but this morning (4 May) it is back to the grey reality of things," Bjarne Schieldrop, chief commodities analyst at SEB, says in a note.The global economy is "utterly depressed," and the global oil market is still running a surplus even after cuts from OPEC+ kicked in Friday, the analyst says. "The situation is improving with demand ticking a little higher and supply declining along with active cuts and attrition. However, supply is only down by around 9-12m bl/day even including the cuts from OPEC+, and this leaves the market with a huge running surplus. Damage is still being done and the running surplus continues to push inventories higher and spot prices lower for now."The market is on a path toward balancing, but we are not there yet, with the surplus still running high, he says.May 2020 is going to be extremely challenging, and June could be too and this will be fully displayed in the physical spot market and further rises in oil inventories, Schieldrop says. Related Links:USO Tanks After Oil ETF's Temporary Trading HaltOil Prices Rebound, Analyst Says Market Faces Tsunami Of SurplusSee more from Benzinga * Oil Price Surge Driven Partly By Positive Coronavirus Vaccine News, Says Strategist * USO Tanks After Oil ETF's Temporary Trading Halt * Oil Price Turmoil Persists, But Analyst Says Storage Worries Are Short-Term(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Oil prices rally on Thursday over signs that fuel demand will return. Trafigura Co-Head of Oil Trading Ben Luckock joins Yahoo Finance’s On The Move to discuss the outlook for oil markets.
Investors who are looking for ways to diversify a traditional investment portfolio can turn to alternative assets like commodities and related exchange traded funds.
Orbital Insight is measuring shadows from space to trace the world’s oil glut. Orbital Insight Founder & CEO James Crawford joins Yahoo Finance’s Zack Guzman to discuss.
AT 9:45 AM ET (1345 GMT), Crude Oil WTI futures traded 3.6% lower at $12.32 a barrel, while the international benchmark Brent contract rose 0.9% to $23.27. Overnight, the United States Oil Fund (NYSE:USO), an ETF that accounts for a large block of exposure in WTI futures, said it would sell off all its contracts for June delivery, replacing them with longer-term contracts. According to a notice by the company seen by Bloomberg, "this unscheduled roll is being implemented based on the potential for the June 2020 WTI crude oil contract to price at or below zero as well as the steady decline in open interest for the June 2020 contract.”
Stocks advanced Monday as investors mulled a patchwork of state plans to slowly roll back social distancing measures. U.S. crude oil prices renewed their slump after four straight sessions of gains.
Diamond Offshore Drilling announced its decision to file for bankruptcy. Yahoo Finance’s Jared Blikre joins the On The Move panel to discuss.
The coronavirus and subsequent volatility have brought havoc to the foreign exchange market but investors can protect themselves through forward contracts.
Yesterday Governor Cuomo announced one of the worst news I heard all month long. Only 21% of New Yorkers tested positive for COVID-19 antibodies in recently administered semi-random antibody tests. The dumb media was kind of surprised by this news. One Bloomberg article said the following: “…the preliminary results appear to confirm predictions that the […]
LOS ANGELES, CA / ACCESSWIRE / April 24, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of United States Oil Fund, LP ("USO" or "the Company") (NYSEArca:USO) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
These were the top searched terms and articles on Investopedia this week as readers looked to understand the crash in oil prices and how to trade it.
Moody’s Analytics Head of Monetary Policy Research Ryan Sweet joins Yahoo Finance’s Seana Smith to discuss his outlook on oil and how the economy is faring amid the coronavirus outbreak.
Money Map Press Chief Investment Strategist Keith Fitz-Gerald joins Yahoo Finance’s Seana Smith to break down his outlook on the markets amid the coronavirus.
Global Energy Economist at Kpler Reid I'Anson joins Yahoo Finance’s Zack Guzman to discuss his outlook on oil prices following a tumultuous week amid the coronavirus pandemic.
In March, Saudi Arabia shocked oil markets by increasing output in the face of collapsing oil demand. Oil market experts have several explanations behind the country's actions. Continue reading...