NYSEARCA:UCO - NYSE Arca - US74347Y8883 - ETF - Currency: USD
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.
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.