Exchange traded funds (ETFs) for oil were among the steepest decliners in Thursay’s carnage in commodities markets.
U.S. Oil Fund (NYSEArca: USO) was down 8% in afternoon trading. The oil-futures ETF dropped below its 50-day moving average.
A stronger U.S. dollar was helping to push down oil and other commodities. PowerShares DB US Dollar Bullish Fund (NYSEArca: UUP) was up 1.3% in recent action.
U.S. Oil Fund
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