US Stocks October 27, 2026 Intermediate

USO: How to Track WTI Oil Prices Through Mobee

Author Bayu Surya Purnama

Read time 3 min

USO: How to Track WTI Oil Prices Through Mobee

As of October 20, 2026, the USO ETF is at US$160.61, up 132.23% since the start of the year. But this ETF tracks futures contracts, not the WTI spot price directly. This article explains how it works, what the risks are, and how to buy USO on Mobee.

Key Takeaways

The USO token is a tokenized ETF from Ondo Finance that follows the USO ETF. It is not physical oil.
The USO ETF holds front-month WTI futures contracts and rolls them into the next month, which creates a roll effect.
As of October 20, 2026: USO ETF at US$160.61, 52-week range US$65.99 to US$163.35, expense ratio 0.60%.
Oil prices are driven by supply, geopolitics, and demand. Moves can be sharp in both directions.
The USO token is available on Mobee with USO/IDR and USO/USDT pairs. Mobee is licensed and supervised by OJK.

What Are the USO Token and the USO ETF?

In recent years, blockchain has been used to bring real-world assets onto on-chain networks. This trend is known as Real-World Assets (RWA). The USO token is one example.

The USO token (United States Oil Tokenized Fund) is issued by Ondo Finance through the Ondo Global Markets platform. It follows the performance of the United States Oil Fund (USO), one of the largest oil ETFs in the world.

With the USO token, you get exposure to the price movement of the USO ETF without opening an account with a futures broker. You can also buy in small amounts. But remember, the USO token follows the USO ETF, not barrels of oil.

Oil Prices Now and What Moves Them

Oil prices are at a high level. At the close on October 19, 2026, WTI was at US$103.57 per barrel and Brent at US$110.18. For comparison, on October 7, WTI was at US$89.57 and Brent at US$101.51. These numbers move every day, so check the latest price before you trade.

Several drivers the market highlighted in early October 2026:

Strait of Hormuz. Nine ship incidents were reported during October, including a tanker suspected of hitting a mine or a drone.
Gulf risk. A Houthi missile aimed at Saudi Arabia was intercepted.
OPEC+. The planned production increase is only 137,000 barrels per day starting in November, below market expectations.
US inventories. An API report recorded a 7.1 million barrel drop in crude oil stocks, far larger than expected.

On the demand side, there is a restraining factor. The IEA cut its 2026 oil demand forecast by 2.5 million barrels per day.

If tensions ease or supply grows, prices can reverse. A big rise does not guarantee another one. For more context, read our market update on the oil surge and USO.

How Does the USO Token Work?

The USO token is a tokenized version of the USO ETF. The USO ETF tracks the daily price of West Texas Intermediate (WTI) light sweet crude oil through futures contracts.

There are two technical points you need to understand:

Futures-based exposure. Unlike a gold token backed by gold bars, the underlying asset of the USO ETF is oil futures contracts, not physical oil. These contracts must be renewed continuously so the fund does not take delivery of oil.
Short-term versus long-term correlation. In the short term, the USO ETF usually moves in the same direction as oil prices. In the long term, results can drift apart because of costs and the roll effect of the contracts.

Why the USO Token Price Can Differ from the WTI Price

The USO ETF does not buy physical oil. According to the USO ETF 10-Q report as of June 30, 2026, the fund references the front-month WTI contract, then moves it into the next month over five days starting at the beginning of each month.

This process of switching contracts is called a roll. The result depends on the shape of the futures curve:

Contango: next-month contracts are more expensive. During the roll, the fund sells the cheaper contract and buys the more expensive one, so returns are eroded.
Backwardation: next-month contracts are cheaper. The effect is the opposite and can help returns.

The ETF's own report says contango and backwardation affect total return compared with investing directly in crude oil.

Aspect	WTI price	USO ETF	USO token on Mobee
What you see	Oil contract price	ETF holding futures contracts	Token that follows the USO ETF
Roll effect	None	Yes	Affected through the USO ETF
Costs	None	Expense ratio of 0.60% per year	USO ETF fund costs, plus trading fees on Mobee
Currency	USD	USD	IDR or USDT, follows the exchange rate

Timing differences also matter. The USO token price on Mobee can move outside US market hours, so the figure can differ from the USO ETF closing price.

Tokenomics and Mechanics of the USO Token

The structure of the USO token differs from a typical crypto asset. According to Ondo:

Underlying asset. Each token represents exposure to shares of the United States Oil Fund (USO).
Mint and redeem. New tokens are minted when underlying assets are locked, and burned when investors redeem them. Supply follows demand.
On-chain transparency. Transactions and proof of reserves can be verified publicly.
Distribution. Tokens are distributed to users who pass verification.

Learn about similar mechanics in ETF Tokenization.

Advantages of the USO Token Over Traditional Oil Investing

Investing in oil through the futures market usually requires a special account and complex contract management. The USO token simplifies that access.

Aspect	USO token	Traditional oil ETF
Where you trade	Mobee, a crypto asset app that is licensed and supervised by OJK	US exchanges through a broker
Fractional ownership	Yes	Depends on the broker
DeFi integration	Yes	No
Trading hours	Outside US market hours	Exchange hours

This convenience is not a guarantee of results. The risks remain the same as the USO ETF, plus the risks of a tokenized product.

Risks of Holding the USO Token

High volatility. Over 52 weeks, the USO ETF moved from US$65.99 to US$163.35.
Roll effect. In a contango market, returns can erode even if the WTI price rises.
Prices can reverse. A 132.23% rise since the start of the year does not guarantee another rise.
Exchange rate. The USO ETF trades in US dollars, so the IDR pair follows the USD/IDR rate.
Tokenized product risk. The USO token represents exposure to the USO ETF price, not direct ownership of ETF units.
Issuer and custodian risk. The USO token depends on Ondo and its custody structure.

Manage risk with a position size that suits your profile, and do not use money you will need in the near term.

How to Buy USO on Mobee

The USO token can be bought in the Mobee app. Mobee is licensed and supervised by OJK. Here are the steps:

Sign up and verify. Complete account verification (KYC).
Deposit funds. Deposit rupiah into your Mobee wallet. You can also use USDT.
Open the Trade menu. Go to the Trade menu at the bottom of the app.
Select USO. Search for "USO" in the asset list.
Choose a trading pair. Pick USO/IDR or USO/USDT.
Choose an order type. Use a market order for the current price, or a limit order for a price you set. Learn the difference in Orders in Trading.
Enter the amount and confirm. Check the transaction details, then tap Confirm.

Once it goes through, the USO token lands in your Mobee wallet and you can hold it or sell it later. Mobee also offers other commodity instruments, including tokenized gold and silver.

Placing USO in a Portfolio

Commodity assets often move on different triggers than stocks or crypto. That is why some people use them for diversification. But oil is very sensitive to news, so the position size needs to be limited.

You can also compare other energy and metal themes on Mobee, such as the outlook for natural gas through UNG or copper miners through COPX.

Conclusion

The USO token gives a practical way to follow oil prices through the USO ETF, with a rupiah pair on Mobee. But the USO ETF is not the WTI price. The roll effect, fund costs, exchange rate, and volatility mean results can differ from the oil price you see in the news. Understand that first, then decide on a position size that fits your risk profile.

FAQ

What is the USO token?

The USO token is a tokenized ETF from Ondo Finance that follows the United States Oil Fund (USO). The USO ETF holds WTI oil futures contracts, so the USO token is not physical oil and not the WTI price itself.

What is the difference between the USO token and the WTI oil price?

The WTI price is the price of an oil contract in the futures market. The USO token follows the USO ETF, which rolls the front-month contract into the next month and bears fund costs. Because of this, its long-term movement can drift away from the WTI price.

Why did oil prices rise in October 2026?

In early October 2026 the market focused on tension in the Strait of Hormuz, a missile attack toward Saudi Arabia that was intercepted, an OPEC+ production increase smaller than expected, and a drop in US crude oil inventories. These factors can change quickly.

Can I buy the USO token with rupiah?

Yes. On Mobee, the USO/IDR and USO/USDT pairs are available. You need to complete KYC verification and deposit funds first.

What does it cost to hold USO?

According to EtfDB, the USO expense ratio is 0.60% per year. There is also the roll effect of futures contracts, which does not show up as a separate fee but affects returns.

What are the main risks of the USO token?

The risks include oil price volatility, the roll effect in a contango market, the chance of prices reversing after a big rise, the USD/IDR exchange rate, and tokenized product risk. Understand all of them before you trade.

Is the USO token suitable for the long term?

The USO ETF is designed to follow oil prices over the short term. The roll effect can erode returns if you hold it for a long time. This is not a recommendation, so match it to your risk profile and do your own research.

Sources

United States Oil Fund (USO), price data, 52-week range, expense ratio, and assets under management as of October 20, 2026. EtfDB.
United States Oil Fund, LP, Form 10-Q as of June 30, 2026. SEC.
Harga Minyak Dunia Per Barel Hari Ini, October 20, 2026. Pintu News.
Harga Minyak Dunia Rebound: Brent Sentuh $101,51, WTI $89,57. JournalArta, October 7, 2026.
United States Oil Fund (Ondo Tokenized). Ondo Finance.

Disclaimer

This content is meant to give readers additional information and is not an invitation to buy or sell any asset. Prices of crypto assets and tokenized assets are volatile and carry risk. Always do your own research before you trade.