US Oil Fund, a popular oil ETF known for ticker 'USO,' plunges 20% after brief halt
Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020., a popular exchange-traded security known for its 'USO' ticker which is supposed to track the price of oil, was briefly halted Tuesday before the opening bell. It resumed trading and plunged 20%.
USO could run into trouble if those contracts also fall to a negative value as they near expiration a month from now.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil price crash: Record amounts of oil stored in tankers amid pandemic - Business Insider60% more oil is being stored at sea in oil tankers than the previous record high during the 2009 financial crisis.
Read more »
Crude oil is back above $1 after the oil market's worst day on recordThe global coronavirus pandemic has brought countries around the world to a standstill. Here's the latest updates on worldwide Covid-19 cases, deaths, government responses, and more.
Read more »
U.S. oil falls more than 10% to lows not seen since 1999Crude oil futures fell on Monday, with U.S. futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that U.S. storage facilities will soon fill to the brim amid the coronavirus pandemic.
Read more »
Treasury yields lower as US oil prices sinkU.S. government debt prices were higher Monday morning as investors digested news related to Covid-19 and lower oil prices.
Read more »
US oil prices on pace for their worst day ever as storage runs outOil prices have dropped to their lowest level in more than 20 years, as the coronavirus crisis continues to eat away at demand and storage tanks in the U.S. are nearing their limits.
Read more »
Instant View: Spot U.S. oil futures crash below zero with nowhere to store crudeEnergy traders fled from the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract deep into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude.
Read more »