The ProShares UltraShort Bloomberg Crude Oil ETF (SCO) closed at $17.67 on December 24, 2024, down 1.23% as crude oil prices climbed amid thin pre-holiday trading. West Texas Intermediate (WTI) crude rose 1.1% to $70.02 per barrel, supported by positive U.S. economic data and expectations of increased demand from China following a planned 3 trillion Yuan stimulus. The U.S. economy showed resilience with a surge in new orders for capital goods and a rebound in home sales, bolstering oil prices. Additionally, Chinese policymakers' plans to inject significant funds into the economy are expected to boost oil demand, further supporting prices. However, concerns about a potential crude surplus and geopolitical tensions, including the Russia-Ukraine conflict, continue to loom over the market.