COPX is trading at $90.37, up 3.2%, as surging oil prices above $100 per barrel drive demand for copper and commodity-linked activity.
- Geopolitical tensions between the U.S. and Iran in the Strait of Hormuz have pushed crude prices higher, providing a macro tailwind for the natural resources sector.
- The ETF is significantly outperforming the broader market, as the S&P 500 and Nasdaq decline on inflation concerns while the Dow sees only modest gains.