Retail Investors Surge in Oil ETF Purchases, Setting New Records

Retail investors have significantly increased their activity in oil trading, with trailing one-month retail purchases in pure-play oil ETFs reaching a record $211 million on Thursday. This figure surpasses the previous peak of $200 million in May 2020 and is three times higher than the 2022 high of $70 million. The Kobeissi Letter posted on X that retail purchases in the United States Oil Fund ETF, known as $USO, amounted to $32 million, marking the third-largest daily purchase on record. The all-time high for daily purchases remains at $42 million, set on March 6th. Currently, retail purchases of oil ETFs are occurring at ten times the average level observed over the past five years, indicating a strong interest in the market's volatility.