SpaceX soared 23% in its first hour of trading, but the Nasdaq barely budged. Here's why even a $2 trillion newcomer can't move the needle in a market ruled by $4 trillion giants.
Nvidia announced its next-gen AI platform and surged 5%. But Apple, Amazon, Tesla, and Meta didn't get invited to the party, and oil prices are up. As a result, the top market indexes barely moved today.
Treasury Secretary Scott Bessent, on Monday, issued a 30-day general license on the Russian seaborne oil to stabilize the crude market, which is dealing with supply shortages due to the closure of the Strait of Hormuz. Sanctions Could Stabilize Oil Market In a post on X, Bessent said the license would temporarily allow vulnerable countries to access Russian oil currently stranded at sea. The move would "provide additional flexibility," and would "stabilize the physical crude market." The license would ensure that oil reaches the most energy-vulnerable countries, Bessent added. He also stated it will help redirect "existing supply to countries most in need" by limiting China's ability to "stockpile discounted oil." Bessent said that Treasury officials are working with the nations for more specific licenses as needed. https://x.com/SecScottBessent/status/2056411947982115207?s=20 Supply Shortages The Iran conflict has disrupted Middle East oil production, pushing global oil supply below demand this year. This has raised oil prices. Crude oil (June 2026) futures have spiked about 60% since the war erupted in late February. United States Oil Fund (NYSE: USO), which tracks the WTI futures prices, soared 82% in the same time frame. The closure of the Strait of Hormuz, which carries about 20% of global oil and liquid natural gas (LNG) shipments, has disrupted more than 14 million barrels per day of crude output from global supply. Global inventories declined by another 117 million barrels in April after falling 129 million barrels in March. The International Energy Agency (IEA) calls it "an unprecedented supply shock." Fatih Birol, the head of the IEA, warned that the world is facing the "biggest energy security threat in history." Aramco CEO Amin Nasser warned that global energy markets could face a multi-year disruption if oil shipments through the Strait of Hormuz remain blocked. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
United States Oil Fund LP (NYSE:USO) shares are getting hit hard on Wednesday after President Donald Trump announced a conditional two‑week pause in U.S. strikes on Iran.
In a move that caught global markets and diplomatic circles by surprise, President Donald Trump announced a 10-day moratorium on military strikes against Iranian energy infrastructure late Thursday evening, March 26, 2026. The announcement, delivered via a series of posts on Truth Social, established a temporary pause in the high-intensity
United States Oil Fund LP (NYSE: USO) is trading higher Tuesday morning as escalating developments in the U.S.-Israel-Iran conflict appear to be pushing more geopolitical risk back into crude prices.
United States Oil Fund (NYSE:USO) shares are tumbling on Monday as crude prices drop after President Donald Trump announced a five‑day halt to planned U.S. strikes on Iranian energy facilities.
The economist said that if President Donald Trump is serious about short-term pain for long-term gain, he should ask for $50B in other spending cuts or tax hikes.
