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WTIU - USO: 3 Reasons To Sell The Rallies In Crude Oil ETF
UBS AG London Branch ZC SP ETRACS REDEEM 04/01/2047 USD 25 - Leveraged Long
The perfect storm over the past 3 months has been nothing short of ruthless for the crude oil market. The combination of demand and supply shocks from the coronavirus pandemic and OPEC debacle led to an apocalyptic ~70% rout to previously unimaginable levels of under $20 per barrel. It was not until President Trump came out swinging with the prospect of a production cut deal when crude oil mounted a massive relief bounce back to near the $30 handle. The corresponding crude oil ETF (USO) likewise crashed under $5 before the reprieve: