The United States Oil Fund that tracks West Texas Intermediate oil prices attracted $59.9 million in June, the first inflow since February, as crude jumped to the highest level in almost a year before ending the month little changed. The fund had outflows of $1.46 billion in the previous three months. The U.S. holds more recoverable oil reserves than either Saudi Arabia or Russia, according to Oslo-based consultant Rystad Energy. For the U.S. more than 50 percent of the remaining oil reserves is in unconventional shale oil. Texas holds more than 60 billion barrels of shale oil according to the new data. New data from Rystad distinguishes between reserves in existing fields, in new projects and potential reserves in recent discoveries and in yet undiscovered fields. An established standard approach is applied to all fields in all countries, said Rystad, which means reserves can be compared apples-to-apples across the […]