United States Oil Fund (USO)

Brent crude prices were down 2.5% at $68.79 per barrel, while U.S. West Texas Intermediate crude prices were down 2.5% at $66.78 per barrel at 2.27 am GMT.

U.S. futures markets are rallying on Monday night, after President Donald Trump announced a "ceasefire timeline" for the conflict between Iran and Israel.

Oil prices drop 7% despite Iran launching missiles at US bases in Qatar. Markets view attack as symbolic, not start of war. Diplomacy possible.

U.S. West Texas Intermediate (WTI) futures traded 6% lower at $69.41 per barrel at the time of writing, while Brent futures fell 5.6% to $71.25 per barrel.

Oil prices can shoot up if Iran decides to shut the Strait of Hormuz. If tensions further intensify, energy and defense ETFs may gain.

U.S. President Donald Trump stated that he’s “watching” and urged everyone to “keep oil prices down” in a Truth Social post Monday morning.

Iran’s Defence Minister, Amir Hatami, said the U.S. would soon receive a “decisive response,” stating that “this time would be no different.”

US stocks mixed amid Iran tensions and inflation concerns, S&P dips, Nasdaq gains. Asia markets down, Europe declines. Oil up on Iran strike fears.

According to data from the Energy Information Administration, about 21 million barrels of oil passed through the Hormuz Strait each day in 2022.

Earlier, a Reuters report stated that while Iran is open to discussing limitations on uranium enrichment, it won’t do so while it’s under fire from Israel.

Brent crude futures slipped 2.9% to $76.59 per barrel, while the U.S. West Texas Intermediate crude fell 0.6% to $73.42 per barrel at 2.40 am ET.

Oil ETFs surge as tensions rise between Israel and Iran. Crude prices spike on fears of U.S. involvement, Strait of Hormuz disruption, and geopolitical risks.

Khamenei’s retort comes after President Donald Trump on Tuesday warned that his patience was wearing thin.

U.S. markets closed lower on Tuesday due to geopolitical tensions, with energy & defense stocks rising. Asia markets mixed, Europe flat, oil prices dip.

The decision follows a trip by senior administration members to Alaska earlier this month.

While crude oil transport has not been affected directly, concerns remain that Iran could move to block the Strait of Hormuz, a crucial passage for oil tankers.

Brent crude futures gained 0.4% at $76.78 per barrel, while U.S. West Texas Intermediate crude prices rose 0.4% at $73.57 per barrel at 11:54 pm ET.

Trump hijacks G7 summit, leaves early to deal with Iran's nuclear pursuits. Investors prepare for ETF-level consequences amid tensions.

Robin Energy shares rocketed further than the others, doubling their market value with gains of 120%.

U.S. markets end higher as tensions ease between Israel and Iran, while all eyes remain on Fed's rate decision. Asian markets mostly down.

Brent crude futures rose 1.4% to $74.24 per barrel while U.S. West Texas Intermediate crude futures gained 1.2% to $71.06 per barrel, as of 5.03 am ET.

With tensions continuing to flare in the Middle East, the global energy supply is on tenterhooks, with Israel hitting Iran where it stands to hurt the most.

President Donald Trump cut short his Group of Seven summit attendance in Canada's Kananaskis, citing escalating Iran-Israel hostilities.

According to the data published by OPEC, the cartel increased its production output by 154,000 barrels a day, despite announcing plans to improve it by 411,000 barrels during the month.