Crude oil futures are up 6% today. So why is the ETF (NYSE:OIL) for Crude Oil down 4%?

Isn't this ETF (NYSE:OIL) supposed to track the futures price of crude oil? So why is moving opposite of the futures price?





Your help is appreciated!Crude oil futures are up 6% today. So why is the ETF (NYSE:OIL) for Crude Oil down 4%?
You must be looking at the Feb 09 contract for crude oil. Here is the Feb contract info





http://finance.yahoo.com/q?s=CLG09.NYM








The March contract was down today about $1.60/bbl at $41





http://finance.yahoo.com/q?s=CLH09.NYM








Here is the futures chain, to keep up with the difference.





http://finance.yahoo.com/q/fc?s=CLH09.NY鈥?/a>Crude oil futures are up 6% today. So why is the ETF (NYSE:OIL) for Crude Oil down 4%?
Cause inventory is maxed out and Exxon has stopped importing oil because they have no place left to put it. Oil will likely drop like a rock soon and all of the experienced man know it.





Get ready for $25 a barrel oil!
You are comparing the old futures contract for crude oil which expired on friday with the current contract. The ETF does not account for futures market contango, if you dont know what contango is, go to wikipedia and learn.
Because the future is what the market thinks that the price movement will be in the future and th ETF is the price for today.
Changing of the front month.

blush eyeshadow