United States Oil Fund, LP is trading 3.1% higher today as crude oil prices rebound amid escalating Middle East supply risks and a warning from HSBC regarding a potential oil super-squeeze.
- Geopolitical tensions with Iran remain elevated, supporting a higher risk premium for WTI crude oil futures.
- The pre-market surge follows two strong prior sessions as market participants react to HSBC’s warning of a looming supply crunch.
- The ETF, which tracks front-month futures, is benefiting from a shift in focus back toward supply-side vulnerabilities.