United States Oil Fund Surges Over 45% as Crude Jumps 50%
United States Oil Fund shares have climbed over 45% to above $120 since late February after U.S.–Israel strikes on Iran disrupted about one-fifth of global supply. Brent crude has traded in the low-$100s with intraday spikes above $110, while WTI vaulted above $100 for the first time in record time.
1. Surge in Crude Oil Prices
Since U.S.–Israel strikes began on February 28, Brent crude prices have risen roughly 50%, trading in the low-$100s with spikes above $110, while WTI crude passed $100 at its fastest pace on record.
2. USO's Price Rally
United States Oil Fund shares have surged more than 45% to trade above $120, as markets price in protracted regional conflict and disruptions cutting about one-fifth of global oil supply.
3. Geopolitical Tensions Driving Energy Markets
Heightened Iran war shock has led major producers from Kuwait to the UAE to trim output, fueling stagflation concerns as energy costs rise alongside tightening financial conditions.