Shares of (DTO) (SZO) (SCO) (DNO) Trade Up as Oil Plunged 15% Last Week

These oil ETFs and ETNs traded up to end the week, as oil prices plummeted 15 percent last week, taking PowerShares DB Crude Oil Double Short ETN (DTO), PowerShares DB Crude Oil Short ETN (SZO), ProShares UltraShort DJ-AIG Crude Oil ETF (SCO), United States Short Oil Fund (DNO), and others, up with it.

Light, sweet crude oil for June delivery on the New York Mercantile Exchange dropped $2.62 to settle at $97.18 a barrel, matching the eight-week low of March 15. The U.S. Oil Fund (USO) closed down 1.1 percent on Friday.

For the week, the June oil futures contract fell 14.7 percent to $113.93.

Light, sweet crude for June delivery fell $2.62, or 2.6%, to close at $97.18 a barrel on the New York Mercantile Exchange.

In London, Brent crude finished the day off $1.67 at $109.13 per barrel on the ICE Futures exchange.

Republicans went on the offensive against higher oil and gas prices by passing a bill to hasten the leasing process dragging on in the Gulf of Mexico as the Obama administration drag their feet on taking action. The bill would also require leasing to be allowed off the coast of Virginia.

According to Rep. Michael Burgess (R-Texas), the bill helped push down the price of oil as it sent a message to the market they're serious about the future supply.

All Obama has done so far has obsessed on the fantasy of green, clean or so-called alternative energy; a dubious matter at best, and at worst, ignoring what they country needs now and is available to it.

In other Nymex trading for June contracts, heating oil fell 4.12 cents to $2.8457 a U.S. gallon and gasoline futures were down 0.53 cents to $3.0901 a U.S. gallon. Natural gas fell 3.4 cents to $4.297 per 1,000 cubic feet.

ProShares UltraShort DJ-AIG Crude Oil ETF (SCO) closed Friday at $47.48, climbing $0.93, or 2.00 percent.