Giant Fund at Heart of Oil Storm Loses Most Cash in 4 Years
- United States Oil Fund had no inflows since early September
- Outflows unsurprising as crude has gone ‘nowhere’: Pillow
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After all the wild gyrations with the world’s biggest oil exchange-traded fund earlier this year, when crude sank below $0 a barrel, the once popular ETF has finally lost its appeal.
With the relative stability of crude prices, the nearly $4 billion United States Oil Fund, ticker USO, posted its largest one-day exodus since December 2016, according to data compiled by Bloomberg. Monday’s $195 million outflow adds to this month’s withdrawals from the ETF, which also hasn’t seen any daily inflow since early September.