Oil ETFs Tumble 5% as Traders Run from Risk
August 04, 2011 at 14:51 PM EDT
Oil exchange traded funds were suffering losses of 5% Thursday as investors sold commodities and stocks and fled to safe havens such as bonds and cash. U.S. Oil Fund (NYSEArca: USO) fell 5.6%. Crude oil futures dropped below $87 a barrel in Thursday’s selling after touching $100 in July. U.S....
