- United States Oil Fund (USO) surged over 108% in the past year, closing September 16, 2026 at $156.17, driven by Middle East supply shocks that pushed WTI crude sharply higher.
- USO exploded 4.12% on September 15, 2026, moving from 156.66 to 163.11 as institutional accumulation and short covering forced a rapid repricing of energy supply risk.
- Market backwardation in 2026, with near-month WTI futures above later-dated contracts, gave USO a positive roll yield that augmented returns beyond the raw spot price change.
- USO pulled back 3.52% on September 16 as Saudi Arabia worked to restore pipeline flows and early de-escalation signs prompted traders to take profits.
- Lazard Asset Management CIO Eric Van Nostrand says geopolitics, oil prices and higher rates reinforce the view that markets are shifting into a supply-side era where supply shocks, not consumer demand, drive outcomes.
Quotes
“markets are shifting into a new supply-side era, where outcomes are being driven more by supply shocks than by consumer demand”
“United States Oil Fund (USO) surged over 108% in the past year, closing September 16, 2026, at $156.17”
“Crude Oil (USO) exploded 4.12% higher today, blasting from 156.66 to 163.11”