Oil ETFs Rise on OPEC Meeting Drama
June 8th 2011 at 9:59am by Tom Lydon
Oil exchange traded funds followed crude prices higher Wednesday as traders reacted to news of a rocky OPEC meeting that ended abruptly.
The member nations were unable to reach consensus to raise production, defying market expectations, according to reports.
Crude futures rose above $100 a barrel in morning trade Wednesday. U.S. Oil Fund (NYSEArca: USO) climbed nearly 2% at last check.
U.S. Oil Fund
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