| The United States Oil Fund, which tracks West Texas Intermediate oil futures, has surged almost 20% over the past month. Buoyed by some bullish comments by the Organization of Petroleum Exporting Countries (OPEC), traders have been flocking to oil futures contracts.
USO has been somewhat steady following a sharp reversal last month that forced a spate of short covering. A short position is a sale on a borrowed security. The investor needs to eventually return the borrowed stock by purchasing it back from the open market. If the price falls, the investor buys it back for less than he or she sold it for and pockets the profit...............................................Full Article: Source
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