Oil Market Volatility - The conflict in Iran has led to significant volatility in oil prices, with WTI crude oil futures rising from approximately $65 per barrel at the end of February to nearly $120 on March 9, before settling around $85, marking the highest price since late 2023 [1][2] Future Price Outlook - President Donald Trump has suggested that the conflict may end soon, but ongoing regional activities could keep oil prices volatile, with the potential for prices to reach $100 again if access to the Strait of Hormuz remains restricted [2] Investment Options in Oil ETFs - Three primary exchange-traded funds (ETFs) are available for investors interested in oil, each offering different levels of exposure and volatility tolerance [3] United States Oil Fund (USO) - The United States Oil Fund primarily invests in the nearest-to-expiration futures contracts on WTI crude oil, rolling forward to the next contract upon expiration, and is the most commonly used ETF for oil exposure [5][6] - The fund's current price is $119.89, with a daily change of +1.27%, and it has a 52-week range of $60.67 to $124.07 [6][7] United States 12 Month Oil Fund (USL) - The United States 12 Month Oil Fund offers a more risk-managed approach by equally weighting investments across the next 12 monthly contracts, historically experiencing about 25% less volatility than the USO [8][9] - The current price of USL is $48.93, with a daily change of +0.60%, and a 52-week range of $31.00 to $49.21 [9] ProShares Ultra Bloomberg Crude Oil Fund (UCO) - The ProShares Ultra Bloomberg Crude Oil Fund provides 2x daily exposure to the Bloomberg Commodity Balanced WTI Crude Oil Index, suitable for investors looking for significant short-term price swings [11][12] - The current price of UCO is $40.26, with a daily change of +0.98%, and a 52-week range of $17.78 to $40.80 [12]