USO is trading 3% up today as crude oil prices spike following a sharp escalation between the U.S. and Iran and the formal end of their ceasefire agreement.
- Brent and WTI futures surged more than 6% on fears of potential supply disruptions in the Strait of Hormuz.
- The rally in energy-linked assets comes as major equity indices trade lower due to heightened geopolitical and macroeconomic uncertainty.