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The Direxion Daily S&P Oil & Gas Exploration & Production Bull and Bear 2X ETFs aim to generate daily returns that, prior to considering fees and expenses, equate to double (200%) the performance, or double (200%) the inverse performance, of the S&P Oil & Gas Exploration & Production Select Industry Index. It is important to note that there is no guarantee these funds will consistently meet their specific investment goals.

As the global benchmark topped $100, stocks slumped and Treasury yields hit their highest levels of President Trump's second term.

Oil futures edged lower on likely technical correction after Brent futures settled above $100 per barrel overnight for the first time in two months.

With two of its key oil export routes - the Hormuz and Bab el- Mandeb straits - disrupted by Iran and Iran-allied Houthi militants, Saudi Arabia has to resort to exporting oil via Egypt's Suez Canal.

Oil prices hit their highest levels since May topping $100 per barrel on Thursday as heightened tensions in the Middle East continue to squeeze exports.

WTI crude oil tests major resistance after a powerful rebound, with a breakout potentially targeting $100 while support levels define pullback risk.