The Strait of Hormuz, accounting for nearly a third of the world’s oil supply, is once again under geopolitical pressure, and ETF investors are rushing to reposition.
Over the past month, the United States Oil Fund (NYSE:USO) and the United States Brent Oil Fund (NYSE:BNO) have spiked 22.25% and 20.26%, respectively. On Saturday, the U.S. conducted airstrikes on three major Iranian nuclear facilities—Fordow, Natanz, and Isfahan—and oil prices jumped in response.
