Nevertheless, fundamentals are improving in the energy market. For example, U.S., India and other major consumers are seeing increased demand, the Wall Street Journal reports. On the supply side, U.S. shale production has fallen off in response to the collapsed prices, and producers like Nigeria and Canada have experienced disruptions.
Related: Oil ETFs at 7 Month High on Falling U.S. Inventories
“There is one big bullish factor for crude prices: the situation in Nigeria, he said. Supply disruptions caused by a string of attacks by a militant group in the country have brought the oil exporter’s production to the lowest in 20 years,” according to CNBC.
Bearish oil ETFs include the VelocityShares 3x Inverse Crude (NYSEArca: DWTI), United States Short Oil (NYSEArca: DNO) and the DB Crude Oil Short ETN (NYSEArca: SZO).
For more information on the oil market, visit our oil category.
United States Oil Fund
