Newsflash: Buying $USO is *NOT* buying crude oil at $5 per barrel.
Buying $USO is buying a ton of June oil at $25/bbl....
Buying $USO is buying a ton of June oil at $25/bbl....
When on May 5 thru 8th, they will sell their June oil to buy July oil (currently 25% more expensive):
So if $USO rolled their June oil futures to July oil futures today, and oil stayed at the same price, you lose about 25% of your money just from the cost of the roll (contango):