Gate News reports that on March 9, according to Bloomberg ETF senior analyst Eric Balchunas on the X platform, the United States Oil Fund (USO) experienced unusually high trading activity today. As of 11:30 a.m. Eastern Time, the daily trading volume exceeded $7.6 billion, breaking its all-time single-day trading record and far surpassing the trading volumes during the volatile oil markets of 2020 and 2022. Eric Balchunas pointed out that since USO mainly tracks oil prices by rolling over futures contracts, long-term holding may be eroded by futures rollover costs, and there is also a risk of rapid price declines. Investors should be aware of potential volatility. The surge in trading volume was driven by professional traders and retail investors with high risk tolerance. USO is considered one of the most sensitive equity assets to oil prices and attracts significant short-term trading during periods of sharp oil price fluctuations.
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