United States Oil Fund

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Friday as Investors Retreat From Chipmaker Stocks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7%, and the actively traded Invesco QQQ Trust (QQQ) fell 1.8% in Friday's premarket activity, as investors continued to pull back from chipmakers.US stock futures were also lower, with S&P 500 Index futures down 0.8%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures declining 1.6% before the start of regular trading.June housing starts jumped by 19% from the previous month to a 1.427 million annual rate, above expectations compiled by Bloomberg as of 7:30 am ET for a 1.310 million rate after a decrease to a 1.199 million pace in May.US import prices rose by 0.3% in June, compared to the 0.7% decrease expected in a survey compiled by Bloomberg and following a 1.7% increase in May.Industrial production data for June will be released at 9:15 am ET, followed by the preliminary University of Michigan consumer sentiment reading for July at 10:00 am ET.In premarket action, bitcoin was down by 1.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated 2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.3%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.6%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.7%, and the iShares US Consumer Staples ETF (IYK) advanced 0.9%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) gained 1%, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% lower.XPeng (XPEV) shares were down more than 5% pre-bell after closing the prior session with a 1% rise. The Wall Street Journal reported Thursday that the company is launching its L03 SUV in Munich, marking its first global vehicle launch outside China as it expands in Europe and other overseas markets.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.2%, and the iShares US Technology ETF (IYW) was 2.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 3.4%, while the iShares Semiconductor ETF (SOXX) fell by 3.9%.Cadence Design Systems (CDNS) shares were down more than 5% in premarket activity following a 1.8% fall at the prior close. The company said it will work with logic semiconductor manufacturer Rapidus to advance "agentic AI" for advanced-node system-on-chip design under a new collaboration.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.6%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.SpaceX's (SPCX) stock was down more than 4% before the opening bell after CEO Elon Musk said in a Thursday post on X that the company's Starship rocket triggered an "automatic launch abort," with the next launch to be rescheduled possibly "in a few days".Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) slipped 0.5%. The iShares Biotechnology ETF (IBB) was down 0.4%.GSK (GSK) stock was down more than 2% premarket after the company said it would discontinue development of camlipixant for refractory chronic cough after the drug produced mixed results in the phase 3 CALM-1 and CALM-2 trials.EnergyThe iShares US Energy ETF (IYE) was up 0.6%, while the State Street Energy Select Sector SPDR ETF (XLE) was 1.5% higher.BP (BP) stock was up more than 1%, and ConocoPhillips (COP) was 2% higher before market open. CNBC reported Friday that the companies plan to reveal billions of dollars in new investments in Iraq to help build its energy sector and increase resilience against Iranian disruptions.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% lower.Truist Financial (TFC) shares traded down 1% in early hours activity, even after the company reported higher Q2 earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 2.7% to $81.04 per barrel on the New York Mercantile Exchange. Natural gas was up by 0.5% to $2.87 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 2.4%, while the United States Natural Gas Fund (UNG) was 1% lower.Gold futures for July retreated 0.1% to $3,988.00 an ounce on the Comex. Silver futures were down 1.1% to $55.59 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 0.9% lower.

Update: WTI Oil Edges Down Even as Iran Conflict Keeps Strait of Hormuz Shut

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) closed lower for the first time in four sessions on Thursday, even as escalating violence between the US and Iran is keeping the Strait of Hormuz closed.WTI crude oil for August delivery closed down 0.8% to settle at $78.95 per barrel, falling off the highest since June 15, while September Brent oil was last seen down 0.8% to $84.72.US forces continued to strike Iran as they seek to eliminate the country's ability to threaten vessels passing through the Strait of Hormuz, a key chokepoint that carried about 20% of global oil supplies before the war began on Feb. 28.The Guardian reported the US launched strikes on the port city of Bandar Abbas as well as targets near Tehran and a tanker ignoring the US blockade of Iranian ports, while Iran responded with attacks on Bahrain, Kuwait and Jordan.The fresh fighting is keeping ships trapped in the Persian Gulf, leaving Asian nations struggling for supply. Just 10 ships moved through the Strait of Hormuz in the past day, according to hormuzstraitmonitor.com, 17% of normal traffic through the waterway."Crude oil steadied after a three-day rally, with Brent trading around USD 85, suggesting the recent wave of short covering that helped fuel the advance may have largely run its course for now. Nevertheless, escalating Middle East tensions continue to raise concerns about energy flows from the region, prompting the IEA to warn that a prolonged disruption could have a meaningful impact on the global economy," Saxo Bank wrote.

Sector Update: Energy Stocks Edge Higher Premarket Thursday

Energy stocks were edging higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 1.1% higher at $80.46 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.1% to $85.87 per barrel, and natural gas futures were inactive at $2.92 per 1 million British Thermal Units.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said. Shares of TotalEnergies were down more than 1% pre-bell.Baker Hughes (BKR) said it has completed its acquisition of Chart Industries (GTLS) for $210 per share in cash, representing an enterprise value of $13.6 billion. Baker Hughes shares were 0.2% lower premarket.Halliburton (HAL) said it has secured lump sum turnkey contracts awarded by Aramco that include oil re-entry operations, drilling, completions, and workovers in multiple onshore fields in the Kingdom of Saudi Arabia. Shares of Halliburton were 0.2% lower pre-bell.

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday Amid Semiconductor Stock Weakness

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Thursday's premarket activity, amid weakness in semiconductor stocks.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures slipping 0.5% before the start of regular trading.US initial jobless claims fell to a level of 208,000 in the week ended July 11 from an upwardly revised 216,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.The New York Federal Reserve's services index jumped to 8.7 in July from minus 10.1 in June.US retail sales rose by 0.2% in June, as expected in a survey compiled by Bloomberg and following the previous month's revised 1.0% increase.The Philadelphia Federal Reserve's monthly manufacturing index jumped to 41.4 in July after rising to 10.3 in June, compared with expectations for a much smaller increase to a reading of 12.5 in a survey compiled by Bloomberg as of 7:30 am ET.Reports releasing at 10:00 am ET include the pending home sales data for June, business inventories data for May, and home builder sentiment data for July.Weekly natural gas stocks data will be released at 10:30 am ET.Fed Vice Chair Philip Jefferson is slated to speak on Thursday.In premarket action, bitcoin was down by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.1% lower, Ether ETF (EETH) retreated 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1%, the Vanguard Health Care Index Fund (VHT) gained 0.8%, while the iShares US Healthcare ETF (IYH) rose 0.9%. The iShares Biotechnology ETF (IBB) increased marginally by 0.02%.UnitedHealth Group (UNH) stock was up more than 5% premarket after the company reported higher Q2 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.9%, while the Vanguard Industrials Index Fund (VIS) was down 0.7% and the iShares US Industrials ETF (IYJ) was inactive.GE Aerospace (GE) stock was down more than 3% before the opening bell, even after the company reported higher Q2 adjusted earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.7%, and the iShares US Consumer Staples ETF (IYK) advanced marginally by 0.03%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.6%.Honda Motor (HMC) shares were up more than 2% pre-bell after a 0.7% decline at the prior close. Nikkei reported that the company plans to begin production of its UC3 electric motorcycle in Vietnam as early as September, shifting manufacturing from Thailand as it looks to capitalize on growing demand for electric two-wheelers in the country.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.UBS Group (UBS) shares traded down 2% in early hours activity following a 2.3% gain in the previous session. Bloomberg News reported, citing an internal memo, that the company hired former Goldman Sachs (GS) managing director Takehiro Sakuramoto to head its debt capital markets division in Japan.EnergyThe iShares US Energy ETF (IYE) gained 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.04%.TotalEnergies (TTE) stock was down more than 2% before market open, extending losses from its 0.7% retreat at the end of Wednesday's session. The company said it expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.5%, and the iShares US Technology ETF (IYW) was 1.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 2.7%, while the iShares Semiconductor ETF (SOXX) fell by 3.7%.Nvidia (NVDA) shares were down more than 1% in premarket activity after advancing 0.3% at Wednesday's close. The company said it is working with Noetra to launch a factory of central processing units and graphics processing units to support the development of a national "Physical AI" infrastructure.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1% to $80.41 per barrel on the New York Mercantile Exchange. Natural gas was up by 0.8% to $2.95 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.4%, while the United States Natural Gas Fund (UNG) was 0.8% higher.Gold futures for July retreated 0.5% to $4,032.80 an ounce on the Comex. Silver futures retreated by 0.7% to $57.02 an ounce. SPDR Gold Shares (GLD) decreased 1.4%, and the iShares Silver Trust (SLV) was 2.9% lower.

Oil Extends Rally for Fourth Session as Iran Conflict Keeps Strait of Hormuz Shut

Oil prices edged higher early Thursday, rising for a fourth straight session as escalating violence between the U.S. and Iran kept the Strait of Hormuz closed.West Texas Intermediate crude oil for August delivery was last seen up 0.5% to $79.96 per barrel, the highest since June 15, while September Brent oil was up 0.1% to $85.06.U.S. forces continued to strike Iran as they sought to eliminate the country's ability to threaten vessels passing through the Strait of Hormuz, a key chokepoint that carried about 20% of global oil supplies before the war began on Feb. 28.The Guardian reported the US launched strikes on the port city of Bandar Abbas as well as targets near Tehran and a tanker ignoring the US blockade of Iranian ports, while Iran responded with attacks on Bahrain, Kuwait and Jordan.The fresh fighting is keeping ships trapped in the Persian Gulf, leaving Asian nations struggling for supply. Just 10 ships moved through the Strait of Hormuz in the past day, according to hormuzstraitmonitor.com, 17% of normal traffic through the waterway.The escalating fighting is keeping supply tight, pushing price up 11% since the fighting restarted on the weekend amid fears of rising inflation and slower growth."Crude oil steadied after a three-day rally, with Brent trading around USD 85, suggesting the recent wave of short covering that helped fuel the advance may have largely run its course for now. Nevertheless, escalating Middle East tensions continue to raise concerns about energy flows from the region, prompting the IEA to warn that a prolonged disruption could have a meaningful impact on the global economy," Saxo Bank wrote.

Update: WTI Oil Edges Up to a Fresh Month High as Middle East Fighting Intensifies

(Updates prices in the second paragraph and and EIA storage data in the final paragraph.)West Texas Intermediate (WTI) crude oil rose to a one-month high on Wednesday as fighting between the US and Iran intensified, keeping the Strait of Hormuz blocked.WTI crude oil for August delivery closed up $0.26, or 0.3%, to settle at $79.71 per barrel, the highest since June 15, while September Brent oil was last seen down $0.02, or 0.02%, to $84.71.WTI's rise comes as the US and Iran continue to trade attacks after the pair last week walked away from their ceasefire agreement. The US launched a fresh series of missile strikes on Iranian targets while Iran responded with strikes on US targets in neighboring countries, the Guardian reported.The renewed fighting is again keeping the Strait of Hormuz closed, choking off exports from the Persian Gulf, which supplied 20% of daily oil demand prior to the Feb. 28 start to the war. Just 19 ships have moved through the Strait in the past day, according to hormuzstraitmonitor.com, leaving hundreds of vessels still waiting to move out into the Gulf of Oman and onto world markets."Oil prices trade higher for a third day after Trump threatened further strikes on Iran, hours after the US resumed its blockade on Iran's shipping through the Strait of Hormuz. Meanwhile, Trump's U-turn on plans to impose a 20% charge on shipments through the waterway briefly sent prices lower before the resumption of attacks," Saxo Bank noted.In its weekly report, the Energy Information Administration said US commercial oil inventories fell by 1.7-million barrels last seek, leaving stocks at 6% below the five-year average for the period.

August WTI Crude Oil Contract Closes up $0.26, or 0.3%; Settles at $79.60 per Barrel

Sector Update: Energy Stocks Edge Higher Premarket Wednesday

Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was 0.4% higher at $79.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.1% to $84.77 per barrel, and natural gas futures were down 1.1% at $2.87 per 1 million British Thermal Units.Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported, citing two people familiar with the process. Shell stock was up more than 1% pre-bell.Halliburton (HAL) said it was awarded a multiyear contract from Aramco to provide stimulation and completion services supporting unconventional gas development in Saudi Arabia. Halliburton shares were 0.2% higher premarket.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday Amid Economic Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Wednesday's premarket activity, amid economic data releases.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.02%, and Nasdaq futures gaining 0.4% before the start of regular trading.Mortgage applications fell by 2.7% in the week ended July 10 as higher 30-year mortgage rates depressed new home applications, while refinancing activity improved, according to Mortgage Bankers Association data released Wednesday.The New York Federal Reserve's Empire State manufacturing index rose to 15.6 in July from 5.7 in June, compared with a smaller expected increase to a reading of 9.2 in a survey compiled by Bloomberg.US producer prices fell 0.3% in June, compared with expectations for no change, while core producer prices rose 0.2%, below forecasts for a 0.3% increase.Fed Chair Kevin Warsh begins his second day of testimony at 10:00 am ET.Weekly crude oil stocks data are set for release at 10:30 am ET, followed by an appearance byNew York Fed President John Williams and Fed Governor Lisa Cook are slated to speak on Wednesday.The Fed's Beige Book report will be released at 2:00 pm ET.In premarket action, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) advanced 0.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, the Vanguard Industrials Index Fund (VIS) rose 1%, while the iShares US Industrials ETF (IYJ) was inactive.Pentair (PNR) stock fell more than 21% before the opening bell after the water treatment company reported preliminary Q2 results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% lower.BlackRock (BLK) shares traded up more than 4% in early hours activity after Bloomberg reported the company is in discussions over providing about $45 million in private credit to Indian e-commerce platform Udaan as part of a proposed $160 million funding package.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.6%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.1%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.ASML (ASML) shares were up more than 3% in premarket activity after the company reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated 0.01%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was up 1.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Lucid (LCID) shares were down more than 2% pre-bell after dropping more than 16% in Tuesday's regular session following rumors of a potential bankruptcy filing that the company quashed.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) declined 0.6%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.3%. The iShares Biotechnology ETF (IBB) was up 0.2%.Merck (MRK) stock was up more than 1% premarket after the company said a phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.EnergyThe iShares US Energy ETF (IYE) was down 2.5%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.1%.Oceaneering International (OII) stock was up nearly 1% before market open after the company and Kongsberg were selected by the US Department of War's Defense Innovation Unit to support the US Navy's vision for scalable uncrewed undersea platforms.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.6% to $79.82 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.2% to $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for July gained 0.8% to $4,035.90 an ounce on the Comex. Silver futures retreated by 1.4% to $58.28 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.2% lower.

Oil Edges Up to a Fresh Month High as Middle East Fighting Intensifies

Oil edged higher to the highest in a month early on Wednesday as fighting between the US and Iran intensified, keeping the Strait of Hormuz blocked again.West Texas Intermediate crude oil for August delivery was last seen up $0.37, or 0.5%, to $79.71 per barrel, the highest since June 15, while September Brent oil was up $0.50, or 0.6%, to $85.23.The rise comes as the US and Iran continue to trade attacks after the pair last week appeared to walk away from their ceasefire agreement. The US launched a fresh series of missile strikes on Iranian targets while Iran responded with strikes on US targets in neighboring countries, the Guardian reported.The renewed fighting is again keeping the Strait of Hormuz closed, choking off exports from the Persian Gulf, which supplied 20% of daily oil demand prior to the Feb. 28 start to the war. Just 19 ships have moved through the Strait in the past day, according to hormuzstraitmonitor.com, leaving hundreds of vessels still waiting to move out into the Gulf of Oman and onto world markets."Oil prices trade higher for a third day after Trump threatened further strikes on Iran, hours after the US resumed its blockade on Iran's shipping through the Strait of Hormuz. Meanwhile, Trump's U-turn on plans to impose a 20% charge on shipments through the waterway briefly sent prices lower before the resumption of attacks," Saxo Bank noted.A lighter than expected drop in US oil inventories last week is offering a check to prices. In its weekly survey, the American Petroleum Institute reported stocks dropped by 0.6-milllion barrels last week, under expectations for a fall of 2.7-million barrels, according to Investing.com. The Energy Information Administration will release official storage data later on Wednesday morning.

Update: WTI Oil Extends Rally as US-Iran Fighting Threatens Persian Gulf Supply

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil rose for a second day on Tuesday as renewed fighting between the US and Iran again threatens to keep Persian Gulf supply off the market.WTI crude oil for August delivery closed up $1.20, or 1.5%, to settle at $79.34 per barrel, the highest since June 15, while September Brent oil was last seen up $1.34, or 1.6%, to $84.64.Oil is now up 11% in the past two days after Iran and the US renewed fighting on the weekend as they dispute control over the Strait of Hormuz, the chokepoint for 20% of daily oil demand supplied by Persian Gulf nations prior to the Feb. 28 start to the war.Iran attacked three tankers in the Strait and launched strikes against US targets in neighboring countries overnight, the Wall Street Journal reported, while the US carried out five hours of strikes on Iranian targets and re-imposed a blockade of Iranian ports.Iran has again declared the Strait closed, while the US President Trump on Monday said it remains open while announcing plans to impose a 20% toll on shipping through the waterway as a protection fee.The fighting has again kept shipping through the Strait limited, with hormuzstraitmonitor.com reporting just 11 ships have move through the waterway in the past 24 hours, under the daily average of 60 ships."Oil prices jumped almost 10% on Monday - their biggest one-day gain in more than three months - after President Trump reinstated the blockade on Iran and demanded a 20% toll on all cargo passing through the Strait of Hormuz. Brent extended its advance during the Asian session, rising a further 1.1% to USD 85 per barrel for the first time in a month, supported by short covering from wrong-footed traders and renewed concerns over Persian Gulf supply," Saxo Bank wrote.

August WTI Crude Oil Contract Closes Up $1.20, or 1.5%; Settles at $79.34 per Barrel

Sector Update: Energy Stocks Edge Higher Pre-Bell Tuesday

Energy stocks were edging higher pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.7%.The United States Oil Fund (USO) was up 2.9% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 3.5% higher at $80.85 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 4.3% to $86.91 per barrel, and natural gas futures were down 1.3% at $2.86 per 1 million British Thermal Units.BP (BP) said its Q2 results are expected to include post-tax adjusting items relating to impairments of around $1 billion. BP shares were up more than 1% premarket.Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported, citing people familiar with the matter. Shares of Shell were nearly 1% higher pre-bell.Ranger Energy Services (RNGR) shares were up more than 1% after the company said it has entered into a contract with Hess, a wholly owned subsidiary of Chevron (CVX), to deploy three additional ECHO hybrid workover rigs.

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Tuesday Ahead of Warsh Testimony

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1.1% in Tuesday's premarket activity, ahead of Federal Reserve Chair Kevin Warsh's first day of testimony at 10:00 am ET.US stock futures were mixed, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.6%, and Nasdaq futures gaining 0.4% before the start of regular trading.The US consumer price index fell a seasonally adjusted 0.4% in June, compared with expectations for a 0.1% decline, after rising 0.5% in May, Bureau of Labor Statistics data showed on Tuesday.Fed Governors Michael Barr and Lisa Cook and Fed Vice Chair Michelle Bowman are scheduled to speak on Tuesday.In premarket action, bitcoin was up by 0.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.9% higher, Ether ETF (EETH) advanced 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was up 1.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 2% higher, while the iShares Semiconductor ETF (SOXX) rose by 3.5%.IBM (IBM) shares were down more than 22% in premarket activity after the company posted expected Q2 operating earnings and revenue that trailed analysts' estimates.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.8%, while the iShares US Healthcare ETF (IYH) slipped 0.4%. The iShares Biotechnology ETF (IBB) was 0.3% lower.HCA Healthcare (HCA) stock was down more than 8% premarket after the company cut its guidance for 2026 EPS and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) rose 0.9%, while the Vanguard Industrials Index Fund (VIS) was up 0.3% and the iShares US Industrials ETF (IYJ) was inactive.General Fusion (GFUZ) was up more than 6% before the opening bell, a day after the company began trading on the Nasdaq following the completion of its merger with Spring Valley Acquisition Corp. III.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1% higher.JPMorgan Chase (JPM) shares traded down more than 2% in early hours activity even after the company reported higher Q2 earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.02%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.03%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declined marginally by 0.01%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.6% higher.Honda Motor (HMC) shares were up more than 1% pre-bell after a 0.3% decline at the prior close. The US National Highway Traffic Safety Administration said Monday that the vehicle manufacturer's Odyssey model year 2011 through 2017 vehicles are under review following complaints about airbags deploying unnecessarily.EnergyThe iShares US Energy ETF (IYE) was up 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.BP (BP) was up more than 1% before market open after the company said its Q2 results are expected to include post-tax adjusting items relating to impairments of around $1.0 billion.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 2.5% to $80.10 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.8% to $2.88 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 2.8%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for July gained 0.7% to $4,032.90 an ounce on the Comex. Silver futures advanced by 0.5% to $58.24 an ounce. SPDR Gold Shares (GLD) increased 2.4%, and the iShares Silver Trust (SLV) was 3.2% higher.

Oil Extends Rally as US-Iran Fighting Threatens Persian Gulf Supply

Oil rose for a second day early Tuesday as renewed fighting between the US and Iran again threatens to keep Persian Gulf supply off the market.West Texas Intermediate crude oil for August delivery was last seen up $1.66, or 2.1%, to $79.80 per barrel, the highest since June 15, while September Brent oil was up $2.67, or 3.2%, to $85.97.Oil is now up 12% in the past two days after Iran and the US renewed fighting on the weekend as they dispute control over the Strait of Hormuz, the chokepoint for 20% of daily oil demand supplied by Persian Gulf nations prior to the Feb. 28 start to the war.Iran attacked three tankers in the Strait and launched strikes against US targets in neighboring countries overnight, the Wall Street Journal reported, while the US carried out five hours of strikes on Iranian targets and re-imposed a blockade of Iranian ports.Iran has again declared the Strait closed, while the US President Trump on Monday said it remains open while announcing plans to impose a 20% toll on shipping through the waterway as a protection fee.The fighting has again kept shipping through the Strait limited, with hormuzstraitmonitor.com reporting just 11 ships have move through the waterway in the past 24 hours, under the daily average of 60 ships."Oil prices jumped almost 10% on Monday - their biggest one-day gain in more than three months - after President Trump reinstated the blockade on Iran and demanded a 20% toll on all cargo passing through the Strait of Hormuz. Brent extended its advance during the Asian session, rising a further 1.1% to USD 85 per barrel for the first time in a month, supported by short covering from wrong-footed traders and renewed concerns over Persian Gulf supply," Saxo Bank wrote.

August WTI Crude Oil Contract Closes Up $6.73, or 9.4%; Settles at $78.14 per Barrel

Sector Update: Energy Stocks Higher Early Monday

Energy stocks were higher in early trading Monday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 2.2%.The United States Oil Fund (USO) was up 3.3%, while the United States Natural Gas Fund (UNG) was 3% lower.Front-month US West Texas Intermediate crude oil was up 3.8% to $74.09 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.6% to $78.76 per barrel, and natural gas futures were 1.5% lower at $2.90 per 1 million British Thermal Units.Pembina Pipeline (PBA) stock was up more than 2%. Wells Fargo upgraded Pembina Pipeline to overweight from underweight and raised its price target to CA$76 from CA$55.Occidental Petroleum (OXY) rose 2% in early Monday trading. Jefferies cut the company's price target to $56 from $58 while maintaining a hold rating.Targa Resources (TRGP) shares were up 1.3%. Goldman Sachs raised its price target on the company to $298 from $283 and maintained a buy rating.

Sector Update: Energy

Energy stocks were higher premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.3%.The United States Oil Fund (USO) was up 3.4%, while the United States Natural Gas Fund (UNG) was 1.8% lower.Front-month US West Texas Intermediate crude oil was up 3.8% to $74.09 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.7% to $78.80 per barrel, and natural gas futures were 1.5% lower at $2.90 per 1 million British Thermal Units.Pembina Pipeline (PBA) stock was up more than 1% before market open, reversing the 0.8% fall in the prior session. Wells Fargo upgraded Pembina Pipeline to overweight from underweight and raised its price target to CA$76 from CA$55.

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as Renewed US-Iran Conflict Lifts Oil Prices

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) retreated 1% in Monday's premarket activity, as renewed military tensions between the US and Iran drove oil prices higher.US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.9% before the start of regular trading.Fed Governor Christopher Waller is slated to speak on Monday.In premarket action, bitcoin was down by 2.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.9% lower, Ether ETF (EETH) retreated 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2%.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% lower.First Hawaiian (FHB) shares traded down 6% in early hours activity, while TriCo Bancshares (TCBK) was up 7% after the companies signed a definitive agreement for First Hawaiian to acquire TriCo in an all-stock transaction.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.5%, and the iShares US Technology ETF (IYW) was 0.4% lower, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 3.2%, while the iShares Semiconductor ETF (SOXX) declined by 3.3%.Intel (INTC) shares were down more than 3% in premarket activity after the company said it is investing 5 billion euros ($5.71 billion) in its Leixlip campus in Ireland to scale capacity to deliver Intel Xeon 6 and next-gen Intel Xeon built on its Intel 3 node.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) was down 0.2%, the Vanguard Industrials Index Fund (VIS) retreated 0.4%, and the iShares US Industrials ETF (IYJ) was inactive.Rockwell Automation (ROK) stock declined more than 3% before the opening bell following a 1% rise at Friday's close. Citigroup lifted the company's price target to $555 from $500 and maintained its buy rating.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.4% lower.InMode (INMD) stock was down more than 1% premarket after rising 1.8% at the prior close. The company reported preliminary Q2 revenue of $95.2 million to $95.4 million.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%, and the iShares US Consumer Staples ETF (IYK) was down 0.9%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% lower.Nio (NIO) shares were up more than 1% pre-bell after Goldman Sachs upgraded the company to buy from neutral and lifted its price target to $7 from $6.60.EnergyThe iShares US Energy ETF (IYE) was up 0.5%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.5%.Pembina Pipeline (PBA) stock was up more than 1% before the market open, reversing the 0.8% fall in the prior session. Wells Fargo upgraded Pembina Pipeline to overweight from underweight and raised its price target to CA$76 from CA$55.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 3.8% to $74.09 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.5% to $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 4%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for July fell 1.1% to $4,068.70 an ounce on the Comex. Silver futures retreated by 2.4% to $58.71 an ounce. SPDR Gold Shares (GLD) decreased 1.1%, and the iShares Silver Trust (SLV) was 2.2% lower.

Update: WTI Oil Falls as Renewed Iran-US Fighting Keeps Persian Gulf Supply Disrupted

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil closed lower Friday as fighting between the U.S. and Iran continues, while some ships continue to move out of the Persian Gulf through the Strait of Hormuz, boosting supply.WTI crude oil for August delivery closed down $0.67, or 0.9%, to settle at $71.41, while September Brent oil was last seen down $0.42, or 0.6%, to $75.88.The drop comes as Iran and the U.S. renew hostilities, though fighting eased overnight. The apparent end to a ceasefire agreement reached last month is continuing to keep ships trapped in the Persian Gulf since the Feb. 28 start to the war. Only 15 ships moved through the Strait of Hormuz yesterday, according to hormuzstraitmonitor.com, leaving 280 vessels still waiting to move through the waterway.However enough ships left the region since the mid-June ceasefire agreement to ease supply worries. In its monthly Oil Market Report, the International Energy Agency said June oil inventories rose for the first time since the start of the war as shipping through the Strait surged following the ceasefire."As an armada of tankers set sail for refining hubs further afield, global observed oil inventories in June rose for the first time since the outbreak of the war. Oil on water swelled by 117 mb (million barrels), far outpacing continued drawdowns in onshore stocks of some 96 mb, including 44 mb of OECD government reserves," the agency said.The IEA said global oil supply rose by 4.1-million barrels per day in June following the release of some Persian Gulf supply to 98.8-million bpd. Demand, which dropped by 4.8-million bpd in the second quarter, is expected to continue to contract in the third quarter on light supply and high prices, though is expected to rise by 1.2-million bpd in the fourth quarter.