USO is trading at $148.75, up +3.36%, as tanker attacks and Strait of Hormuz risks heightened fears of disrupted Middle East supply.
- Hurricane Isaias prompted shutdowns of about 25.08% of U.S. Gulf of Mexico oil production, adding near-term supply concerns.
- A larger-than-expected U.S. crude inventory draw also supported prices.
- Equities were softer, so the move was not part of a broad risk-on rally.