Consequently, market observers believe that the failure of a deal reflects political differences that are undermining the organization, notably between the Sunni-led kingdom and the Shi’ite Islamic Republic.
Related: 32 Best ETFs to Track Crude Oil
“But with Canadian disruptions expected to end by late June, and negotiations between rebels and the Nigerian government underway, the price driving effects of production interruptions could start to dissolve,” according to CNBC.
Traders looking to profit from falling oil prices have plenty of ETF options, including the ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO), which tries to reflect the two times inverse or -200% daily performance of WTI crude oil, and DB Crude Oil Double Short ETN (NYSEArca: DTO), which also follows a -200% performance of oil, jumped 17.4%. Lastly, the VelocityShares 3x Inverse Crude (NYSEArca: DWTI) takes the three times inverse or -300% performance of crude oil.
For more information on the oil market, visit our oil category.
United States Oil Fund
