Investors are cashing-in massive profits from the oil trade:
The United States Oil ETF,
$USO, has posted -$900 million in outflows so far in April, on track for its largest monthly withdrawal since the 2009 record of -$1.2 billion.
Still, the ETF is up 2% month-to-date, after rising as much as 100% from January to early April.
This comes after $700 million in inflows in March, the highest monthly intake since the 2020 pandemic.
By comparison, the largest monthly inflow on record was $3.2 billion in April 2020, followed by $2.1 billion in March 2020.
Overall,
$USO has surged 91% year-to-date, on track for one of its best annual performances this century, followed by 65% in 2021 and 47% in 2007.
Oil markets have made history.