USO is trading at $124.99 (+3.73%) as crude oil prices rebound amid escalating Middle East geopolitical tensions.
- Crude oil futures (CL=F) rose 3.79% following reports of the U.S. intercepting an Iranian missile attack and Iran seizing tankers in the Gulf.
- The move follows a sharp two-day selloff, suggesting that bargain-hunting and short covering are contributing to the upward momentum.