Oil exchange traded funds (ETFs) rallied in afternoon trading Thursday as crude futures jumped over $110 a barrel.
U.S. Oil Fund (NYSEArca: USO) was up 1.3% at last check as crude traded higher and investors continued to watch the conflict in Libya.
The oil ETF came into Thursday’s session up 15% over the past three months. [Oil, Metals Lead Commodity Rally.]
A better-than-expected report on U.S. jobless claims helped drive oil Thursday, MarketWatch reported.
U.S. Oil Fund
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.