United States Oil Fund

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The United States Oil Fund (NYSE ArcaUSO) is an exchange-traded fund that attempts to track the price of West Texas Intermediate Light Sweet Crude Oil.[1][2]

History[edit]

The United States Oil Fund was founded in April 2006 by Victoria Bay Asset Management, now known as United States Commodity Funds,[3] and the American Stock Exchange. The fund opened on its first day of trading at about $70 per share. By early 2007, it was at approximately $50 per share. In mid-2008, it peaked at $119 per share. Then in early 2009, it set a low of $24 per share. In late 2013, it was at about $34. The price slid in the second half of 2014, and went below $10 per share in early 2016.[4][citation needed]

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