Oil Crosses $90 on Iran Escalation: Energy and Metals Levels to Watch
Crude oil crossed $90 per barrel on Monday as US military strikes against Iran and Houthi rebel threats to Strait of Hormuz shipping pushed energy markets into risk-premium territory. USO, the US Oil Fund ETF, gained 1.25% to $125.51 in early Tuesday trading, confirming the market is pricing a meaningful supply disruption, even as the ETF sits 18% below its 52-week high of $154.08. Key Takeaways USO closed at $125.51, up 1.25%, as oil crossed $90/barrel on active US-Iran military conflict and Houthi shipping threats to the Strait of Hormuz. GLD, the gold ETF, slipped 0.22% to $367.60 despite the geopolitical shock, a notable divergence from oil's move that suggests profit-taking or dollar st…
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