On July 13, United States Oil Fund (USO) rose 8.05% in regular trading, trading at $117.48/share, with turnover of $857 million.
The surge was driven by a dramatic escalation in US-Iran military conflict. US Central Command confirmed completion of a new round of offensive strikes on Iran on July 12, targeting air defense systems, radar stations, and missile facilities. Iran's Islamic Revolutionary Guard Corps responded by launching large-scale drone and missile attacks against US military targets in the Gulf region on July 13. President Trump declared the US would \"take over the Strait of Hormuz,\" while Iranian state television announced the strait will remain closed until the US ceases interference.
The Strait of Hormuz handles approximately 20% of global seaborne oil trade. Both WTI and Brent crude futures surged over 4%, with swap markets now nearly fully pricing in a Federal Reserve rate hike in September due to inflation concerns stemming from supply disruption risks.
USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
