VDE is trading 3.8% up at $160.57 in after-hours trading as oil prices spike following U.S. strikes on Iranian targets and the effective closure of the Strait of Hormuz.
- Brent and WTI crude prices surged over 6% due to renewed conflict and widespread tanker diversions in the region.
- The supply disruption significantly improves earnings expectations and cash flow outlooks for the oil and gas producers that dominate this 98% energy-weighted ETF.