🟢 BNO is trading 3.2% up today on escalating U.S.–Iran tensions

BNO is trading 3.2% higher today as Brent crude rallies on escalating U.S.–Iran tensions and fresh threats to regional energy infrastructure.

• Investors are pricing in higher geopolitical risk premia following extended U.S. strikes and Iranian threats to shipping near the Strait of Hormuz, a critical oil chokepoint.
• This supply-risk narrative is currently overshadowing recent weak import data from China and lifting Brent-linked instruments.