USO is trading at $152.90, down 3.46% from the September 10 close as profit-taking follows oil’s sharp multi-session rally and shipping talks ease supply fears.
- Iran and six Gulf states will discuss a temporary Strait of Hormuz shipping arrangement, reducing immediate supply-disruption fears.
- WTI faces a stronger dollar, higher yields, and weaker inventory signals, including refined-fuel builds.
- Brent exceeded $100 after tanker attacks and shipping disruptions; the move appears driven by de-escalation hopes and profit-taking, not a larger supply-risk reversal.