Bloomberg analyst: Crude oil ETF USO's single-day trading volume exceeds $7.6 billion, setting a record and far surpassing the turbulent periods in the oil market in 2020 and 2022.

According to Odaily, Bloomberg ETF Senior Analyst Eric Balchunas posted on X that the United States Oil Fund, an oil ETF listed on the US stock market, saw unusually active trading today. As of 11:30 AM Eastern Time, its single-day trading volume had exceeded $7.6 billion, breaking its historical single-day trading record and far surpassing the trading levels during the periods of extreme oil market volatility in 2020 and 2022. Since USO primarily tracks oil prices by rolling over crude oil futures contracts, long-term holdings may be eroded by the costs associated with contract rollovers, and oil prices also face the risk of rapid pullbacks, so investors should be aware of potential volatility. Analysts believe that the surge in trading volume this round may come from both professional traders and retail investors with a high risk appetite. USO is considered one of the stock-based assets most sensitive to oil prices, and therefore often attracts a large amount of short-term trading during periods of significant oil price fluctuations.