Thanks to steady inflows in recent weeks, United States Oil ETF NYSEARCA USO is once again the biggest oil exchange-traded fund in the world in terms of total assets, topping WisdomTree Brent Crude Oil fund for the first time since the beginning of this year. As of Monday, October 23, United States Oil ETF had total net assets of $1.876 billion, compared to $1.8 billion in assets under the management of the WisdomTree Brent Crude Oil fund, BRNT.
The fund saw outflows earlier this year and lost the competition to be the world’s biggest oil ETF to the WisdomTree Brent Crude Oil fund. However, the recent flare-up in the Middle East with the Hamas-Israel war has attracted fresh inflows into USO as investors priced in a war premium into their bets on crude oil prices. United States Oil ETF has recently seen inflows topping $200 million amid bullish market sentiment that crude oil futures prices would continue to rise.
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