USO is trading 3.1% higher in after-hours trading as crude prices extend a sharp rebound driven by intensifying geopolitical conflict.
- Recent joint U.S.–Saudi strikes on Iran-backed militias and subsequent Iranian missile retaliation have significantly heightened regional instability.
- Ongoing disruptions around the Strait of Hormuz are forcing traders to price in a persistent geopolitical risk premium and elevated supply risks for Brent and global crude benchmarks.