United States Oil Fund (USO) Hits 52-Week High as Supply Bottlenecks Intensify
Shares of the United States Oil Fund LP (NYSE: USO) surged to a new 52-week high Tuesday afternoon, tracking a sharp rally in benchmark crude futures as physical supply disruptions in the Middle East and tightening product markets heightened global supply concerns.
Oil prices went up because there is less oil available right now. When oil gets harder to find, the price usually rises, so watch global supply news.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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