ETF Trends
ETF Trends

U.S. Gasoline Fund (NYSEArca: UGA) is up more than 5% this week after average gas prices fell below $3.50 a gallon to the lowest level in five months.

Oil and gasoline ETFs were up for the third straight session on Wednesday with investors keeping a close eye on the protests in Egypt. “Time appeared to be running out Wednesday for Egyptian President Mohamed Morsy as a deadline passed on a military ultimatum, CNN reports.

UGA and U.S. Oil Fund (NYSEArca: USO) were both up over 2% in morning trade. The ETFs are designed to invest in futures contracts.

Market Vectors Egypt Index ETF (NYSEArca: EGPT) rose for the fifth straight day despite the crisis.

“It’s totally Egypt today,” said Andrew Lebow, a senior vice president at Jefferies Bache, in a Bloomberg report. “When you set a time deadline, it really raises the anxiety level. We’re all watching. If they closed Suez, it would be a major disruption.”

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