Gas demand has dropped off, falling 1% a week for the last four weeks. One analysts says it would normally be rising at this time of year as the travel season begins picking up. But at a record $3.39 a gallon, suddenly staying home and watching the Travel Channel is looking like a much better bargain.
If you aren’t crying yet, this may move you to: Charles Maxwell, the "Dean of Energy Analysts" predicts $180 oil by 2015 and $300 by 2020, reports Aaron Task for Tech Ticker.
Other ETFs available to hedge oil and gas are:
- United States Oil (USO), up 20.6% year-to-date
- PowerShares DB Oil Fund (DBO), up 21.2% year-to-date
- United States Gasoline (UGA), up 7% since Feb. 28 inception