USO ETF (USO) is trading 3.1% down today as crude oil prices extend a sharp decline following a pause in planned U.S. military action against Iran.
- WTI futures dropped over 2% as the Middle East risk premium eases, unwinding recent geopolitical-driven gains in energy markets.
- President Trump’s decision to pause a military strike on Iran has shifted trader focus toward de-escalation and softer overnight commodity trade.
- With no major U.S. economic data scheduled for today, the market remains driven by geopolitical developments and energy sector sentiment.