🔴 Oil Fund (USO) is trading 3.1% down today after surprise U.S. crude inventory build

USO is trading at $123.34, down -3.11%, after the EIA reported a surprise 17.4-million-barrel crude inventory build.

• OPEC cut 2026 demand-growth forecasts to 580,000 barrels per day; IEA projected global oil demand contracting by 1.6 million barrels per day.
• Supply risks around the Strait of Hormuz provided partial support, limiting further losses.
• Trading activity is elevated, with USO underperforming after six-session crude gains reversed.