U.S. Oil Fund (NYSEArca: USO) is an ETF that invests in futures contracts. Futures are a promise to buy or sell a commodity for a set price on a future date. None of the ETFs that hold futures contracts claim to track the spot price of their respective commodities.
Other ETFs that play oil include PowerShares DB Oil Fund (NYSEArca: DBO) and the U.S. Commodity Brent Oil Fund (NYSEArca: BNO). Both funds invest in futures contracts. [CFTC Could Impede Growth of Commodity ETFs.]
PowerShares DB Oil Fund
Tisha Guerrero contributed to this article.