• VDE is trading about 3% higher today, with the energy sector outperforming as crude oil prices rebound sharply.
  • Geopolitical tensions escalated on July 7, 2026, with missile attacks on commercial vessels in the Strait of Hormuz and a drone attack on Russia's largest oil refinery.
  • This comes as OPEC+ had confirmed an increase of 188,000 barrels per day in production starting in August, a factor now overshadowed by the immediate supply concerns.