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The United States Oil Fund is an exchange-traded fund (ETF) that attempts to track the price of West Texas Intermediate (WTI) Light Sweet Crude Oil. [ 1 ] [ 2 ] It is distinguished from an exchange-traded note (ETN) since it represents an ownership claim on underlying securities that the fund has packaged. [ 3 ]
The first fund it launched, in 2006, was United States Oil Fund, LP. USO was the first commodity ETF based on crude oil launched in the United States. USO was the fourth commodity ETP launched in the United States, after the SPDR Gold Shares Trust (ticker: GLD), the iShares COMEX Gold Trust (ticker: IAU), and the Powershares DB Commodity Index ...
This is a table of notable American exchange-traded funds, or ETFs.As of 2020, the number of exchange-traded funds worldwide was over 7,600, [1] representing about 7.74 trillion U.S. dollars in assets. [2]
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Technologies such as fracking and horizontal drilling allowed the United States to become the world's top oil fossil fuel producer in 2014. [6] In 2018, US exports of coal, natural gas, crude oil and petroleum products exceeded imports, achieving a degree of energy independence for the first time in decades.