BNO is trading at $58.06, up 3.48% from the previous close as crude oil futures extend gains amid escalating Iran-U.S. tensions and fears of supply disruptions through the Strait of Hormuz.
- Reuters reported WTI at $92.92, up 1.6%, while Brent rose to $97.49 early September 8.
- The move is commodity-specific: broader U.S. equity futures are lower, while oil retains a significant geopolitical risk premium after shipping activity through Hormuz declined sharply.