OILZ and GASZ—snacking on oil and natural gas contango
In the past, I have been an active investor in oil via the USO ETF, but I stepped aside because of USO’s poor performance in tracking the spot price of oil. The reason for the poor performance was not a mystery—oil futures have been in steep contango, with the front-month price lower than subsequent delivery dates. When USO rolls their contracts into longer-dated contracts …