United States Oil Fund, LP is trading at $137.59 (+6.58%) as oil prices rebound on renewed geopolitical risk and supply-disruption concerns in the Strait of Hormuz.
- Traders are reassessing the durability of the U.S.–Iran ceasefire following recent strikes and fears of retaliation, which has reintroduced a risk premium into crude markets.
- The move appears primarily commodity-driven rather than a general equity rally, as oil-linked assets benefit from rising supply-risk sentiment and a firmer crude structure.