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Brent crude futures fell to $93.45.
Crude oil buyers hold control as limited Hormuz supply and strong refining margins keep sellers on the defensive.
The Dow Jones remains below 55,000 as Trump tariff talks support sentiment, while high Treasury yields and rising AI risks limit the recovery.
Oil markets are moving higher as traders bet that the Strait of Hormuz would remain closed in the upcoming weeks.
A social media post by U.S. President Donald Trump declaring that the Keystone XL oil pipeline "may be awoken from the grave" attracted attention this week in the midst of U.S.-Canada trade talks. Below is a look at the history of that project running through parts of Canada and the U.S., as well as details on the new oil pipeline proposal that follows a slightly different route:
Crude oil is grinding away on Friday, as many traders probably don't know what to do with the headline-driven market at the moment.
While crude oil is up about 50% in 2026, gasoline and diesel have risen more sharply. And the refiners are along for the ride.
WTI and Brent remain bullish as Hormuz traffic falls sharply, while rising U.S. crude and natural gas inventories provide a domestic supply buffer.
SEC filings for UCO aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.