🟢 Oil Fund (USO) is trading 3.07% up in pre-market as Iran’s conditions keep Hormuz reopening uncertain

USO is trading at $121.60, up 3.07% as Iran’s conditions for reopening the Strait of Hormuz renew crude-supply concerns.

• Tehran’s demands and conflicting U.S.-Iran negotiation signals reduced confidence in shipping normalization; Brent rose 1.09% to $84.46, and WTI gained about 0.8% to $78.79 overnight.
• Friday’s unexpectedly weak U.S. jobs report may support rate-cut expectations and softer dollar; August 10, 2026 trading is primarily geopolitical.
• Broader market is nearly flat, indicating oil-specific rather than general risk-on strength.