United States Oil Fund, LP is trading at $136.20 (-3.31%) as WTI crude prices fall on hopes of de-escalation in the Middle East.
- Crude oil prices are retreating after Israel and Lebanon agreed to a ceasefire, prompting traders to take profits following a recent rally driven by supply-risk fears.
- The development has eased fears of a wider conflict that could disrupt oil shipments through critical routes, reducing the geopolitical risk premium that had supported prices.