🟢 Oil Fund (USO) is trading 3.81% up in pre-market after Houthi attacks on Saudi oil tankers

USO is trading at $119.26, up 3.81% from the August 6 close of $118.87, after Houthi attacks on Saudi oil tankers renewed concern about Red Sea shipping.

• The Iran-Oman understanding does not fully restore Strait of Hormuz transit, while Brent gained 3.8% overnight, reinforcing the geopolitical risk premium.
• The August 7 U.S. employment report, scheduled for 8:30 a.m. ET, is the main upcoming macro catalyst, though geopolitical supply concerns appear to be driving the pre-market move.