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Correct me if I'm wrong but...many new oil investors are looking into this as a means of cashing in on possible future price spikes similar to last year. Last year, the ETF seemingly did its job in that it rose in value on a reasonably similar level as the crude spot price. I'm guessing that was achieved because the spot price kept rising, so any gains made between the start and end of each contract month were held regardless of contango. So I imagine if the price spikes again, the ETF should spike too. But if the oil price continues to drift slowly upward in contango, the ETF's going to make minimal, if any, gains. Either way, with oil supplies at record highs, don't expect to make money off this for a while.
