Since the beginning of September, the price of WTI crude oil has gone from over $90 a barrel to $61 a barrel, a drop of over 32%. Do you think the price of oil is going to continue dropping? Do you think it has bottomed out? Either way, there are several ways to play the oil market through the use of ETFs.
United States Oil ETF (USO) has a goal of tracking the performance of West Texas Intermediate light sweet crude oil.
PowerShares DB Oil ETF (DBO) also attempts to reflect the performance of crude oil.
The iPath S&P GSCI Crude Oil Total Return Index ETN (OIL) is another unleveraged follower of WTI crude oil futures contracts.
If you are looking for a play on the daily price changes of unleaded gasoline, check out United States Gasoline (UGA).
Are you really bullish on oil? There is the ProShares Ultra Bloomberg Crude Oil ETF (UCO) which seeks to provide twice the daily performance of the Dow Jones - UBS Crude Oil Sub-Index.
So what can the bears do? You have available the United States Short Oil ETF (DNO), which has a goal of tracking the inverse percentage changes of the spot price of light sweet crude oil.
And if you are really bearish, there is always the ProShares UltraShort Bloomberg Crude Oil (SCO) for a 200% inverse of oil.
Hopefully, you will choose the right direction and put some money in your tank.If you like stock lists like this, check out many of the free stock lists at WallStreetNewsNetwork.com.