USO is trading at $160.45 (+6.99%) in pre-market as U.S.-Iran military escalation and tanker attacks intensify fears of Middle East supply disruptions.

  • Brent crude moved above $100 after attacks involving Iranian oil tankers and shipping near the Strait of Hormuz; WTI also rallied sharply.
  • Hotter August PPI increased inflation concerns and reinforced focus on energy-driven price pressures.
  • The move is sector-led and supported by the broader geopolitical risk premium.