Why United States Oil Fund Is Surging Friday Afternoon

Shares of United States Oil Fund LP (NYSE: USO) increased by 4.65% to $122.82 on Friday, nearing its 52-week high of $125.19, driven by a surge in crude oil prices. West Texas Intermediate crude rose above $97 per barrel, while Brent crude reached $110, amid escalating geopolitical tensions in the Middle East and fears of supply disruptions. The broader U.S. equities market, however, experienced declines, with the S&P 500 down 1.5% and the Nasdaq-100 off 1.95%, reflecting concerns over stagflation.