Traders' march nearly $1 billion SCO fund lost 41%

Business Apr 01, 2026

In March 2026, traders poured nearly $1 billion into a fund (SCO) that makes money when oil prices fall, hoping to cash in on a drop.
But things didn't go as planned. Oil stayed expensive thanks to global tensions, and the fund's value actually sank by 41% by month's end.

USO and BNO draw investor inflows

While some were betting hard against oil, others doubled down on prices rising.
Funds like USO and BNO pulled in hundreds of millions of dollars from investors who think oil will keep climbing.
With all the uncertainty around world events, people are making bold moves both ways. No clear winner yet.