USO is trading at $134.88 (+3.03%) as crude futures extend gains amid worsening U.S.-Iran tensions and constrained shipping through Hormuz.
- Brent rose 2.7% to $94.06; more-active October WTI gained 2.9% to $86.80 in European trading.
- Expired 60-day truce, Iran’s continued closure claims and reduced traffic raise perceived supply-disruption risk; only six commodity vessels crossed Tuesday versus a 10-day average of eleven.
- One-fifth of global oil and LNG supplies previously passed Hormuz; equity risk-off tone is secondary.