United States Oil Fund Rallies 70% as Energy ETFs Attract $13B
The United States Oil Fund has surged 70% year to date, second only to the United States Brent Oil Fund’s 79% gain, as crude prices near their highest since 2022. Investors have allocated $13 billion into U.S. energy equity ETFs, led by $5.1 billion into XLE and $1 billion into VDE.
1. USO’s Year-to-Date Rally
The United States Oil Fund has climbed about 70% in 2026, marking it as one of the top-performing oil-related ETFs alongside the United States Brent Oil Fund’s 79% gain. This surge reflects a rebound in crude oil prices to levels not seen since mid-2022, driven by strong global demand and supply constraints.
2. Equity ETF Inflows Boost Energy Sector
Investors have funneled roughly $13 billion into U.S.-listed energy equity ETFs so far this year, demonstrating robust demand for energy exposure. The Energy Select Sector SPDR Fund (XLE) led the inflows with $5.1 billion, while the Vanguard Energy ETF (VDE) captured about $1 billion.
3. Broader ETF Performance Comparison
Beyond USO and BNO, sector-focused ETFs like the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) gained over 47%, the VanEck Oil Services ETF (OIH) returned 45%, and the Portfolio Building Block Integrated Oil & Gas Exploration & Production ETF (PBOG) delivered a 40% rise, all far outpacing the S&P 500’s 5% decline.
4. Strategic Positioning Options
Investors can gain oil exposure via USO’s direct futures tracking or choose equity ETFs based on desired weighting and sector focus. XLE concentrates over 40% in ExxonMobil and Chevron, XOP equal-weights smaller producers, OIH targets oil services, and PBOG includes global majors like Shell and BP.