USO is trading 6.8% up today as crude oil prices spike on renewed Middle East hostilities and supply-risk fears.
- Geopolitical tensions escalated following reports of intercepted Iranian missile attacks, seized tankers in the Gulf, and joint U.S.–Saudi strikes on Iran-aligned forces in Iraq.
- WTI futures have surged more than 6%, sharply lifting the geopolitical risk premium across the energy sector.
- This crude-driven rally has led USO to significantly outperform broader equity markets, which are currently trading flat.