West Texas Intermediate futures bounced 2.4% Friday, but that hardly erases the savage repudiation of crude in recent months. Heading into Friday’s trading session, the United States Oil Fund (NYSEArca: USO) and the United States Brent Oil Fund (NYSEArca: BNO) had lost an average of 55% over the past six months.
Of course, investors can turn to myriad stocks and exchange traded funds to position for further downside or a possible reversal in crude futures. Beyond making a financial commitment to either side of the volatile oil trade, investors can have some fun, acquire new knowledge about the oil market, energy stocks and ETFs and have the opportunity to win prizes, including Beats by Dre Headphones, with the Vetr Oil Challenge.
Entering the Vetr Oil Challenge is easy. Just follow this link and make a price prediction for where you think West Texas Intermediate futures will be trading at the end of March. Predictions will be locked on Feb. 28. The price of WTI Crude will be used as the benchmark for the final oil price. The price will be obtained at 5:30PM EST on March 31st, 2015 from EODData.
“With oil prices dropping rapidly over the last few months, there have been very few conversations around investing that didn’t include talks about where Crude Oil prices. Since Vetr is the voice of the crowd, we wanted to hear what they had to say. That’s when we approached and teamed up with ETF Trends to find out,” said Vetr Vice President J.D. Singh.