Oil ETFs Crushed on Economic Fears, Dollar Rally
June 15, 2011 at 14:02 PM EDT
Oil exchange traded funds plunged nearly 5% on Wednesday afternoon as crude futures dropped from about $100 a barrel to $94 before bouncing somewhat. The ETFs were hit by worries over the global economy and a rush of investors seeking safety in the greenback. U.S. Oil Fund (NYSEArca: USO) was off...