BNO is trading 3.1% up today as Brent crude prices surge following reports of escalating supply risks in the Middle East.
- Overnight reports of tanker attacks near the Strait of Hormuz and renewed U.S. sanctions pressure on Iranian oil exports have raised fears of significant supply disruptions.
- Brent crude prices jumped more than 5% on the news, directly lifting the Brent-linked ETF in early trading.