The United States Oil Fund (USO) that was responsible for last Monday’s oil crash into negative territory is once again shaking up oil markets, and WTI is now down more than 21% on the day. The USO Fund’s administration, USCF, announced on Monday that it intends to sell off all of its WTI contracts for June delivery—that’s all its front-month contracts that the fund was designed to invest in. Instead, the fund will now focus on futures contracts that are further out. The USO’s breakdown will now be comprised of 30% in the July contract, 15% each in the August, September, October, and December contracts, and 10% in the June 2021 contract. The June 2020 contract fell $3.85 on Monday to $13.09 by 3:52 p.m. EDT. Meanwhile, the July contract is trading $5 higher, and the August contract $8 higher at $21.47. The last time the USO fund shook […]