🔴 Oil Fund (USO) is trading 3.3% down today as Saudi shipments recover

USO is trading at $148.75, down 3.30% on September 21, 2026, amid broad crude weakness as Saudi exports recover.

• The move is sector-driven rather than company-specific; WTI fell as traders priced Saudi shipments above 4 million barrels per day in September and reduced near-term supply fears.
• US-Iran diplomatic progress ahead of the UN General Assembly weakened oil’s geopolitical risk premium.
• Oil prices hit an 11-day low as Saudi cargoes continued moving through the Strait of Hormuz and traders anticipated possible de-escalation, pressuring the oil-linked ETF.