The Complexity of the Oil Trade

The Complexity of the Oil Trade

From Trillions by Bloomberg

March 12, 2026 · 30 min

About this episode

The episode discusses the complexities of the oil trade and the role of ETFs in investing in crude oil.

As the US and Israel's attack of Iran has reminded the world, oil remains as integral as ever to the global economy. But the ETFs for investing in crude come with some caveats—and are a big reason why Bloomberg Intelligence introduced its traffic-light system. On this episode of Trillions , Eric Balchunas and Joel Weber speak with Bloomberg Intelligence's James Seyffart, an ETF analyst, and Vincent Piazza, a senior energy analyst. They discuss Piazza's "delay, disruption and destruction" outlook; how the United States Oil Fund (USO) came back from the dead; and what to know about other noteworthy energy ETFs such as XLE, CRAK and even BWET. See omnystudio.com/listener for privacy information.

People in this episode

Hosts: Eric Balchunas, Joel Weber

Guests: James Seyffart, Vincent Piazza

Topics covered

  • oil trade
  • ETFs
  • global economy
  • energy analysis
  • investment strategies

Keywords

  • oil
  • ETFs
  • investment
  • energy
  • USO
  • XLE
  • CRAK
  • BWET

Mentioned in this episode

Organizations: Bloomberg Intelligence, United States Oil Fund, XLE, CRAK, BWET

Places: Iran, United States

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