Bloomberg Analyst: Crude Oil ETF USO Sets Record with Single-Day Trading Volume Exceeding $7.6 Billion, Far Surpassing Levels During 2020 and 2022 Oil Market Turbulence

Odaily News: Eric Balchunas, Senior ETF Analyst at Bloomberg, posted on platform X stating that the U.S. stock crude oil exchange-traded fund United States Oil Fund (USO) saw exceptionally active trading today. As of 11:30 AM Eastern Time, its single-day trading volume had already exceeded $7.6 billion, breaking its historical single-day trading record and far surpassing the trading volume levels during periods of intense oil market volatility in 2020 and 2022. Since USO primarily tracks oil prices by rolling holdings of crude oil futures contracts, long-term holding may be subject to erosion from futures contract rollover costs. Additionally, oil prices carry the risk of rapid pullbacks, so investors should be aware of potential volatility. Analysis suggests that this surge in trading volume may stem from both professional traders and retail funds with high-risk appetites. USO is considered one of the most oil-price-sensitive equity-type assets, often attracting substantial short-term trading during periods of sharp oil price fluctuations.