ProShares Ultra Bloomberg Crude Oil (UCO)

Global oil prices have surged after escalating conflict in the Middle East disrupted traffic through the Strait of Hormuz, a key route that carries roughly 20% of the world’s oil and LNG exports.

The financing is priced at $5.50 per share of common stock, implying a 53% discount to Monday’s closing price.

Trio Petroleum Corp extended its rally on Tuesday morning after its shares surged 169% on Monday, driven by rising crude prices amid the Middle East conflict.

U.S. index futures declined sharply in Tuesday’s pre-market, mirroring the global rout as the U.S.–Israel–Iran conflict fuels a rise in oil prices and renewed inflation worries.

Data from Stocktwits showed that retail sentiment on SPY and QQQ turned ‘bearish’.

The President added that while the U.S. has projected a timeline of four to five weeks for the Iran mission, the country has the capability to extend it far longer.

During an interview with CNBC, Eisman downplayed the impact of the Iran conflict, stating that it could be “very, very positive” in the long term for equity markets.

The analyst stated that the escalation of tensions in the Middle East is “unlikely to stick for long” due to political calendars, with the U.S. midterm elections slated for November 2026.

The benchmark ETF is testing a critical technical breakdown. The move follows a sharp global selloff as escalating tensions in the Middle East sent oil prices soaring.

Data from Stocktwits showed that retail sentiment on SPY has remained ‘bullish’, while it hovered in the ‘bearish’ territory on QQQ.

Spot gold briefly climbed above $5,000 an ounce before retreating, while spot silver gained 1.5% to $78.3 an ounce.

Oversupply, soft demand, and fading geopolitical risk are dragging crude lower while easing inflation pressure.

According to TheFly, UBS upgraded Devon Energy to ‘Buy’ from ‘Neutral’ and raised the price target on the stock to $46 from $40.

After grappling with weak margins for several quarters, refiners saw their fortunes reverse this year amid tighter fuel supplies.

OPEC’s exports account for nearly 50% of all the world’s crude exports, and the organization and its allies hold almost 80% of the world’s oil reserves.

Benchmark Brent oil prices fell 0.4% to $62.92 per barrel, while WTI crude prices fell 21 cents to $59.12 per barrel, at the time of writing.

Lukoil is looking to offload its international assets after the U.S. imposed sanctions on the Russian firm, as per a Reuters report.

Benchmark Brent oil prices gained 1.8% to $63.50 per barrel, while WTI crude prices rose 1.9% to $59.64 per barrel, at the time of writing.

According to a Reuters report, rather than seeking Lukoil’s entire global asset base, Chevron is considering only the operations that overlap with its existing business.

Brent crude prices rose 1.4% to $63.90 per barrel at the time of writing, while West Texas Intermediate crude prices gained 90 cents, closing in on $60 per barrel.

Oil ETFs inch up as optimism over a U.S. government reopening and Russian export disruptions lift crude prices and investor confidence.