Oil ETFs Surge on Heavy U.S. Inventory Draws
This article was originally published on ETFTrends.com.
Crude oil prices and related ETFs rallied Wednesday on high inventory drawdowns, reflecting strong demand for oil. On Wednesday, the United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate crude oil futures, was up 3.4% and the United States Brent Oil Fund (NYSEArca: BNO), which tracks Brent crude oil futures, added 3.0%, with [...]