Invesco DB Oil ETF (DBO Quick QuoteDBO - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has surged 104.04% from its 52-week low price of $11.89 per share.

Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.

DBO in Focus

The underlying DBIQ Optimum Yield Crude Oil Index Excess Return Index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil. The product charges 0.73% in annual fees (see: all Energy ETFs here).

Why the Move?

The energy sector has been an area to watch as the escalation of the Middle East conflict, marked by retaliatory strikes between Washington and Tehran, pushed oil prices to multi-week highs. Rising expectations of a prolonged conflict could provide another tailwind for the fund, as continued geopolitical tensions are likely to keep oil prices elevated for longer.

More Gains Ahead?

DBO might continue its strong performance in the near term, with a positive weighted alpha of 79.72 (per Barchart.com), which hints at a rally.