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Oil ETFs Notch Gains as Crude Price Slips
It's been a tale of two assets—crude oil dropping while exchange-traded funds tracking the commodity rise. Over the past 30 days, the price of the closely watched West Texas Intermediate crude oil futures has declined by 8.5% with the price falling below its 100-day moving average. Over that same period, the largest pure-play oil ETF, the $1.4 billion United States Oil Fund LP (USO) has gained about 1%. table Still, caution may be creeping in: USO experienced $20.8 million worth of net outflows last month, including $370 million moving out on April 23. Oil ETFs' Resiliency May Be Short-Lived A little more than a ... (full story)