United States Oil Fund, LP Overview
Pro stress-test →USO is an exchange-traded security designed to track the daily price movements of light, sweet crude oil, with shares purchased and sold on NYSE Arca. The fund's investment objective is for daily percentage changes in net asset value to reflect daily percentage changes in the spot price of crude oil delivered to Cushing, Oklahoma, plus interest earned on collateral holdings, less expenses.
Strategic Profile
Pro stress-test →USO holds near-month WTI crude futures and rolls them forward each month, owning only paper barrels with no exposure to producers, refiners, or pipelines. In 2026 year-to-date, USO opened at $69.16 and rose to $129.09 by early June, a gain of roughly 87% in five months, driven almost entirely by the de facto closure of the Strait of Hormuz that began on February 28.
Competitive Landscape
Pro stress-test →USO competes in the commodity ETF space with alternatives like the Invesco QQQ Trust (energy sector ETFs) and direct commodity futures trading. As a specialized single-commodity crude oil fund, USO faces competition from broader energy sector ETFs and other oil-tracking vehicles, but maintains market prominence as "the original oil ETF."
Industry Context
United States Oil Fund, LP operates in Commodity ETFs / Investment Management.
Key facts
Founded: 2006 · Revenue: N/A · Market cap: N/A