🔴 Oil Fund (USO) is trading 3.44% down in pre-market as Qatar-mediated U.S.-Iran talks ease supply fears

USO is trading at $152.72, down 3.44% in pre-market, as optimism about Qatar-mediated U.S.-Iran talks eased crude supply-disruption fears.

• The diplomatic outlook remains uncertain, and crude moves during November 4 were mixed.
• An unexpected 5.27-million-barrel U.S. crude inventory draw offered some support.
• Available evidence points to oil-sector dynamics rather than a company-specific catalyst.