United States Brent Oil Fund

BNO

Market cap $820M

An exchange of attacks between the U.S. and Iran could complicate negotiations and put at risk the reopening the Strait of Hormuz, a critical oil waterway.

Oil prices rose for a third day running on Wednesday and the dollar was on the brink of breaking above 160 yen as fresh hostilities flared in ​the Gulf after U.S.-Iran peace talks stalled.

Oil prices edged higher as investors weighed uncertainty over U.S.-Iran talks. U.S. Central Command said Tuesday that it had defeated multiple Iranian ballistic missiles.

Oil prices climbed more than 1% in early trade on Wednesday as hostilities in the Middle East erupted anew with ​Iran firing missiles at Kuwait and Bahrain, while diplomatic talks ‌between Iran and the United States showed little progress.

Oil prices gained amid signs that U.S.-Iran peace talks may struggle to remain on track.

Secretary of State Macro Rubio indicated to the Senate Foreign Relations Committee that mines in the Strait of Hormuz pose a significant threat. It is unclear how many mines Iran has laid in the sea lane, but ship traffic is unlikely to return to normal until a demining operation has taken place, analysts say.

Crude oil remains trapped within a symmetrical triangle pattern, but a higher swing low and bullish reversal signal growing upside pressure toward key resistance levels.

Oil markets are moving higher as President Trump said that he expected that memorandum of understanding with Iran would be ready over the next week.

Goldman Sachs CEO David Solomon expects consumer behavior to change in the second half of 2026 if inflation picks up, fueled by higher oil prices.

U.S. crude oil stockpiles were expected to have fallen last week, along with distillate and gasoline inventories, an extended ​Reuters poll showed on Tuesday.