Seeking Alpha

Oil ETF attracts big inflows as price declines

  • Dip buyers are evident in oil as the U.S. Oil Fund (USO) attracts net inflows of more than $500M in the past two weeks - doubling AUM in the face of a slumping crude price.
  • WTI crude declined from over $100 per barrel at the end of 2013 (and over $110 around Labor Day) to about $91 this week - it's since bounced to $92.83 currently.
  • Saying supply growth ex-North America will disappoint, UBS is a bull on crude, upping its 2014 price targets for both Brent and WTI by $5 per barrel to $105 and $98, respectively.
  • Related ETFs: USO, OIL, UCO, SCO, DBO, DTO, BNO, CRUD, USL, DNO, UWTI, SZO, OILZ, DWTI, OLO, OLEM, TWTI
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