Oil ETF (USO) in 2015
Oil ETF (USO) opened 2015 at $159.12 and closed at $88, a -44.70% move for the year. The high of $166.56 was reached on May 6, and the low of $85.28 on December 18.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $159.12 | $142.56 | $159.12 | $132.48 | -10.41% |
| Feb | $148.96 | $144.8 | $158.32 | $144.24 | -2.79% |
| Mar | $146.56 | $134.72 | $152.08 | $127.68 | -8.08% |
| Apr | $140.64 | $164.08 | $164.08 | $140.48 | +16.67% |
| May | $163.2 | $162.48 | $166.56 | $155.84 | -0.44% |
| Jun | $162.88 | $159.04 | $165.44 | $156.08 | -2.36% |
| Jul | $152.8 | $124.72 | $152.8 | $124.72 | -18.38% |
| Aug | $120.8 | $127.12 | $127.12 | $99.92 | +5.23% |
| Sep | $118.48 | $117.44 | $122.88 | $115.04 | -0.88% |
| Oct | $116.64 | $118.48 | $128.32 | $110.56 | +1.58% |
| Nov | $118 | $103.44 | $122.24 | $103.44 | -12.34% |
| Dec | $103.6 | $88 | $103.6 | $85.28 | -15.06% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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