U.S. Oil Fund ETF income falls as oil prices crumble

The U.S. Oil Fund recorded a net loss of US$1.19 billion in March, according to a regulatory filing.

This includes USUS$466 million in realized trading losses on futures and another US$725 million on unrealized loss on market value of futures. The value decrease is in line with oil prices in New York crashing 54 per cent in the month.

Retail investors looking for a bottom to the historic price rout have poured record amounts of money into the long oil ETF product, as regulators and speculators are watching any moves by USO closely.

Net assets beginning on March 1 were US$1.46 billion, the filing added.