USO news and market signals

The International Energy Agency warns that the global economy faces a critical window of only a few weeks to avoid a severe shock following the suspension of tanker traffic in the Strait of Hormuz. Escalating regional hostilities have led to direct strikes on commercial vessels, including two supertankers operated by the Abu Dhabi National Oil Company.

Russian crude processing has plummeted to its lowest level since 2005 as targeted strikes dismantle critical refining infrastructure. This supply contraction forces Moscow to halt exports of diesel and jet fuel, creating significant volatility in global energy markets.