Oil ETF attracts big inflows as price declines

|By:, SA News Editor

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