Trading in United States Oil Fund LP USO, -17.33%, one of the most popular ways for retail investors to gain exposure to crude-oil futures CL.1, +105.97%, plunged more than 20% at its low on Tuesday, after being halted for news pending before the opening bell. The sponsor for the exchange-traded fund, USCF, says that it will suspend the creation of shares of the ETF as oil has been beaten down due to oversupply and a lack of storage.
5 billion in inflows as retail investors have tried to pick the turning point for embattled oil prices, which have been slammed due to a lack of storage and price pressures amid the outbreak of the COVID-19 pandemic, according to the Financial Times.The most actively traded June contract on Tuesday CLM20, -25.40% was down nearly 30% at $14.89 a barrel, a day after the front-month May contract CLK20, +105.97% CL.1, +105.
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Source: WSJ - 🏆 98. / 63 Read more »
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