Short-Covering Helps Oil ETFs Rebound
February 02, 2015 at 09:00 AM EST
Excessively bearish oil traders were caught with their pants down Friday as a rebound in energy prices triggered a round of short covering, bolstering oil-related exchange traded funds. The United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate oil, declined 2.8%, surged 7.0%...