Oil Trading Above $84 A Barrel (SCO, DBO)

Oil prices have crossed the $84 a barrel mark in trading today following the opening of airspace in Europe resulting in the resumption of flights and a drop in U.S. crude oil inventories in the last week. Crude oil for delivery in June was up by $0.56 to $84.41 a barrel, while Brent crude for delivery in June was up by $0.86 to $85.66. Meanwhile, in New York, on Tuesday, the ProShares UltraShort DJ-UBS Crude Oil (ETF) (NYSE: SCO) closed 0.82% lower at $12.11, while the PowerShares DB Oil Fund (ETF) (NYSE: DBO) closed 0.46% higher at $28.52.