The United States Oil Fund is an exchange-traded fund (ETF) that attempts to track the price of West Texas Intermediate (WTI) Light Sweet Crude Oil.United States Oil Fund It is distinguished from an exchange-traded note (ETN) since it represents an ownership claim on underlying securities that the fund has packaged. USO invests in oil futures contracts that are traded on regulated futures exchanges.
Background The United States Oil Fund was founded on April 10, 2006, by Victoria Bay Asset Management, now known as United States Commodity Funds, and the American Stock Exchange. The fund opened on its first day of trading at $68.25 per share.When comparing historical prices, account for an 8-to-1 reverse-split on April 28, 2020. Share values after that date may be compared to 8 shares from before that date. USO's investment objective is to include the changes in percentage terms of its units' net asset value (NAV) in its evaluation of the changes in percentage terms of the spot price of light, sweet crude oil as measured by its price on the New York Mercantile Exchange (NYMEX). Its performance is determined by the price of oil through its oil futures contracts.
See also SPDR Gold Shares Price of petroleum
References
External links Yahoo Finance page for USO http://www.etf.com/USO