USO’s Broker Stops It Buying Oil Futures as Regulators Step In

The U.S. Oil Fund LP, the largest exchange-traded fund in the oil market, said it’s currently unable to buy more oil futures following intervention from regulators in three countries.

The restrictions, disclosed in a regulatory filing, are the latest sign that the fund has been pressured to limit its size after growing rapidly during the oil price crash. USO, as it’s better known, has been told by its broker, RBC Capital Markets, that regulators in the U.S, the U.K. and Canada intervened to prevent further purchases of futures contracts.

The ETF roiled oil prices in recent weeks after receiving record…

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