USO, UWTI, UCO, OIL, DBO and SCO are some crude oil ETF symbols. ETFdb.com maintains a list of 14 crude oil ETFs. A crude oil exchange traded fund, or ETF, is a publicly traded investment fund that invests in crude oil, primarily through futures contacts, according to NASDAQ.
An oil futures contract is an agreement to buy a specified amount of oil at a given price at a particular date in the future. Many crude oil ETFs hold large positions in West Texas Intermediate crude oil, which is the benchmark for crude oil in the United States, according to CommodityHQ.com.