UVXY is trading at $17.42, up 4.64%, as renewed Middle East tensions and supply concerns pushed oil higher.
- Brent crude was reported near $110.70 after deadly attacks in Saudi Arabia.
- Weak U.S. futures and doubts about the AI trade after Tesla and Meta results pressured equities; Nasdaq futures were down 1.3% in one report.
- UVXY’s pre-market strength also reflected renewed overnight risk aversion.