Currently the price of crude oil is hovering around 50$/barrel and the corresponding ETF like USO is around 20$/share.
What is the relationship between the price of crude and the price of USO? For a commodity ETF like GLD, it is one tenth of the spot price of an ounce of gold.
Does a similar straight forward linear relation exist between crude oil and USO? I want to know how much the price of crude needs to increase for USO to touch ...e.g 30$.