USO ETF (USO) is trading 3.8% up today as crude oil prices jump above $100 per barrel following a directive from Iran’s Supreme Leader to restrict enriched uranium exports.
- The restriction has intensified geopolitical tensions between the United States and Iran, raising significant concerns over potential energy supply shocks.
- While broader U.S. equity indices trade lower, the energy complex is outperforming as investors rotate into oil-linked assets to hedge against inflation and geopolitical risks.