The price of the Brent crude oil fell below $20 per barrel for the first time in 18 years while the price of WTI fell below zero for the first time in history on Monday due to a crash in demand and storage concerns. ETFs that track the price evolution of commodities, including oil, are invested in future contracts with short-term maturity dates. Usually, futures contracts include the physical delivery of the related commodity at maturity. To avoid this specificity, ETFs managers have to “roll” their exposure before the expiration date of the contract. In a “contango” oil market structure (spot prices trading below contracts for future delivery), ETFs managers might have to sell the contracts reaching maturity at a lower price and buy longer dated future contracts at a higher price just to maintain their position over time. The oil segment on TrackInsight lost 11,84% yesterday (Monday, April 20th), bringing the YTD cumulative drop to -68.1%. However, investors continue to flood into the oil market, betting on a short-term rebound. Over the past 30 days, they have poured $ 7,4 Bn of new assets in the oil segment, which counts 16 ETFs for a total of $ 8,1 Bn of assets under management.