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USO · Analysis updated Nov 6, 2026, 9:47 AM ET
Why is United States Oil Fund (USO) stock moving?
USO closed at 148.21 on Nov 5, up 1.9% after the 8.07% drop on Nov 4 to 145.41. It is still about 14% below the Oct 30 high of 171.82. The fall tracks crude. WTI is down about 12% over seven days and trades near $90 on Nov 6, after a weekly high of $102.75 and a low of $86.65. Democratic midterm wins have fed hopes of de-escalation with Iran and recovering Gulf supply, which is removing the war premium. On the other side, US crude stocks drew 0.9M barrels and WTI is up about 57% year to date. WTI sits above its 200-day average of 87.00 but below its 50-day average of 95.31. Volume on Nov 4 was the highest in the 30-day window at about 11.9M shares, which suggests capitulation-type selling. Nov 5 volume was lower, and the day closed higher, so some stabilization is showing. Headline risk is very high. Peace progress could pull oil lower, while any breakdown in talks could bring a sharp rebound. Weekly pressure is still heavily to the downside.
News behind the analysis
- Oil Prices Plunge as U.S. Elections Shake Up the Iran WarDecember WTI is on track for one of its worst weekly losses in months, down 11.10% from its $102.39 open. Democratic election wins have raised hopes of easing Iran tensions, and Gulf supply is recovering.
- Iran Claims Victory Over Trump After Democrats Flip CongressUSO slipped 0.97% to $144 in overnight trading on Wednesday as oil reacted to the midterm results and Iran's claim of victory.
- WTI Crude Oil Price Today — Live Chart & ForecastWTI closed at 90.12 on Nov 5, up 57.2% year to date. That is above its 200-day average of 87.00 and below its 50-day average of 95.31. US crude stocks drew 0.9M barrels in the week to Oct 30.
- Oil Prices Today: WTI & Brent Crude BenchmarksWTI was at $90.69 and Brent at $98.41 on Nov 6. Both are sharply lower over seven days, with WTI down 12.48% and Brent down 15.63%.
- Crude Oil Futures Price Today (WTI)WTI futures were near $90.34 on Nov 6, with a day range of 89.07-92.50. The 52-week range is 54.98-117.63.
- WTI Crude (Dec'26) quoteCNBC headlined that crude fell below $90 a barrel as Vance blamed the election defeat on the Iran war.
- USO ETF Price and ChartUSO trades at $148.21, close to its NAV of $144.48. AUM is about $2.00B, and one-year fund flows are -$327.54M.