Oil ETFs Rebound as Supply Remains an Uncertainty
Crude oil prices and related ETFs bounced on Friday but were still heading toward a weekly loss as traders weighed the possibility of further disruptions.
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Crude oil prices and related ETFs bounced on Friday but were still heading toward a weekly loss as traders weighed the possibility of further disruptions.
Oil-related exchange traded funds have surged this year, with crude oil prices topping $130 per barrel for the first time since 2008.
A wheat-related exchange traded fund is plunging Wednesday after the U.S. Department of Agriculture reported on a bigger-than-expected stockpile.
As war grips Europe for the first time since World War II, exchange traded fund investors have dumped European equity exposure, favoring a commodities tilt to capture the surge in energy prices and rising inflationary pressures.
Energy exchange traded funds continued to rally Tuesday after President Joe Biden said the U.S.will be banning oil imports from Russia in response to Moscow's invasion against Ukraine.