Oil ETFs In The Red As Oil Prices Stumble

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October 24, 2012
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Oil futures fell more than 3 percent to below $86 a barrel, which sent most oil-focused ETFs based on futures and on equities sliding downward during Tuesday’s trading session, according to an article on MarketWatch.

The article highlighted the following funds and their respective changes as of market closing:

  • United States Oil Fund (NYSEArca: USO) shed 3.4 percent
  • PowerShares DB Oil Fund (NYSEArca: DBO) declined 3 percent
  • Energy Select Sector SPDR ETF (NYSEArca: XLE) dropped just below 3 percent

 

The S&P 500 Index fell around 1.5 percent on Tuesday in a broad sell-off triggered by generally weaker-than-expected earnings.

To learn more, go to MarketWatch.com.

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