Bullish Sign for Oil ETFs as Crude Oil Futures Surge

Related: 5 Oil Services ETFs Offer Rebound Potential

Some traders are concerned over how fast U.S. shale oil producers will increase production to capture the rising prices. Rig counts have recently ticked higher and with credit and earnings issues improving for some U.S. shale drillers, those companies may seize the opportunity to exploit higher pricing in the near-term.

“The call skew in West Texas Intermediate crude, which measures how much more investors are willing to pay for calls than for puts, jumped Wednesday to the highest level since June 30, 2014,” according to Bloomberg.

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