VDE is trading 2.4% up today as Brent crude prices surged 3.5% to $103.47 per barrel following escalating U.S.-Iran tensions and airstrikes on energy infrastructure.
- Geopolitical volatility is driving a rebound in oil prices after Iranian officials refuted de-escalation claims, leading the energy sector to outperform a mixed broader market.
- Chevron’s CEO warned that markets are underpricing supply risks, specifically citing potential disruptions in the Strait of Hormuz that could tighten physical oil supply relative to futures.