The U.S. is Pressuring Oil ETFs

“As China saw the flows from OPEC countries reduce, it turned to the U.S. for oil in February, buying up more than 8 million barrels from American producers, or almost four times the volume that it purchased in January. The OPEC cuts came at a time when China is importing more oil than ever, and the U.S. appears more than willing to fill that need,” notes OilPrice.com.

Active traders now have some new choices to profit from big moves in crude prices. ProShares rolled out the ProShares UltraPro 3x Crude Oil ETF (NYSEArca: OILU) and ProShares UltraPro 3x Short Crude Oil ETF (NYSEArca: OILD) debuted on Monday.

ProShares also offers 2x and -2x crude oil ETF plays. The ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO) takes two times or 200% daily performance of WTI crude oil and the ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO) tries to reflect the two times inverse or -200% daily performance of WTI crude oil.

For more information on the crude oil market, visit our oil category.