Trump Backs Off 20% Fee for Strait of Hormuz Shipments | Balance of Power 07/14/2026

USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels.

Direct crude beta to headline-driven risk premium; suitable for short horizon.

In seeking to track the performance of the index, the fund employs a replication strategy.

Diversified large-cap energy leverage to higher strip; less idiosyncratic than single E&Ps.

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States, Canada, and internationally.

Integrated major tends to benefit from higher crude while buffering volatility via downstream/chemicals.

Higher oil sensitivity; more volatile—fits tactical risk-on in energy.

Bloomberg Daybreak notes Asia equities are pressured by a semiconductor selloff led by South Korea (KOSPI down >6% with a volatility “sidecar” trigger). SK Hynix and Samsung are cited as key drags. Bank of Korea is reported to have hiked rates for the first time in 3+ years and signaled more hikes, with inflation tied to the AI trade. Separately, TSMC earnings (imminent) are framed as a potential “rescue” for chips sentiment after a selloff. Macro/risk backdrop includes reported Strait of Hormuz blockade, with Brent stabilizing just under $80, and upcoming US Retail Sales plus Netflix earnings.

US Launches Fresh Strikes on Iran | Horizons Middle East & Africa 7/16/2026 >> THIS IS HORIZONS MIDDLE EAST AND AFRICA. STRIKES INTENSIFY. THE U.S. LAUNCHES FRESH ATTACKS ON IRAN AS TENSIONS MOUNT IN THE STRAIT OF HORMUZ. TRUMP VOWS TO CONTINUE UNTIL TEHRAN STOPS TARGETING COMMERCIAL SHIPPING. SEMICONDUCTOR STOCKS EXTEND THEIR SELLOFF. ATTENTION TURNS TO TSIM SELLS FOR THE NEXT SIGNAL. AND WE TURN TO MOHAMMED ALABBAR ON HIS $20 BILLION PLAN TO HELP REBUILD SYRIA. I’M JENNIFER IN JO HANS BURKE AND BEFORE WE GET TO SOME OF THOSE STORIES, QUITE A BIT WE ARE FOLLOWING. LET’S GET YOU A CHECK ON YOUR MARKETS RIGHT NOW. IF YOU LOOK AT U.S. EQUITY FUTURES, THEY’RE MARGINALLY HIGHER ON THE DAY AFTER WE SAW A LARGELY POSITIVE SESSION ON WALL STREET FOR WEDNESDAY. WE HAVE SPEAKING, THOUGH, QUIET A BIRTH AS WE PARSE THROUGH COMPANY STATEMENTS AND EARNINGS OVER THE PAST FEW DAYS BUT STILL QUITE A BIT TO GO. THE S&P CLOSED IN THE GREEN FOR A SECOND STRAIGHT DAY ON WEDNESDAY. STILL A LOT TO WATCH OUT FOR BUT STILL CHIP STOCKS UNDER PRESSURE IN ASIA. MORE ON THAT IN A BIT. FOR MORE INSIGHT INTO WHERE WE’RE SEEING SOME OF THE PRICE ACTION IN ASIA BUT ASIA PACIFIC INDEX DOWN JUST OVER 1% AS YOU CAN

Oil Shock Puts Global Growth at Risk Amid Iran Tensions | Insight with Haslinda Amin 7/16/2026 >> THEY WANT TO SETTLE SO BADLY. WE WILL FIND OUT OR NOT WE SETTLE OR JUST FINISH IT OFF. HASLINDA: PRESIDENT TRUMP IS REITERATING IRAN WANTS A DEAL, EVEN THOUGH TEHRAN HAS NOT PUBLICLY EXPRESSED ANY SUCH DESIRE. RISKS ARE MOUNTING IN THE STRAIT OF HORMUZ IN BOTH SIDES CONTINUE TO LAUNCH ATTACKS. LIVE FROM SINGAPORE, THIS IS "INSIGHT WITH HASLINDA AMIN" WITH CRUCIAL CONTEXT AND ANALYSIS. AI CHIP STOCKS ARE LEADING A SELLOFF ACROSS ASIA. THE PLUNGED -- KOSPI FUNDS. OIL IS EXTENDING ITS RALLY UP TO LATEST U.S. STRIKES ON IRAN. THE GLOBAL ECONOMY FACES BIG RISKS IF DISRUPTIONS IN THE STRAIT DRAG ON. MACRO STRATEGISTS WILL ASSESS THE RISKS INVESTORS OVERLOOK AS TENSIONS PERSIST. INDIA IS TURNING TO OVERSEAS INDIANS TO HELP BOOST FOREX RESERVES AND SUPPORT THE RUBY. THE VICE CHAIR AND CEO JAYESH METAH ON WHETHER THE PLAN CAN DELIVER. OUR TOP STORY IS THE U.S. HAS LAUNCHED AIRSTRIKES ON IRAN FOR THE FIFTH STRAIGHT DAY. THEY COMES AFTER PRESIDENT TRUMP PLEDGED TO INTENSIFY THE BOMBARDMENT UNTIL TEHRAN STOPS ATTACKING SHIPS IN THE STRAIT OF HORMUZ AND AGREES TO OPEN THE WATERWAY. THE U.S. MILITAR

TSMC reported Q2 results beating estimates with very strong margins and reaffirmed ~36% revenue growth. The piece ties strength to sustained AI demand. It also notes ASML raised full-year net sales outlook again but its stock was flat; mentions potential margin pressure for TSMC from capex intensity and pushback on ASML tool price increases, and highlights weakening PC demand as a headwind.

Innolight Said to Near Approval for $7B HK Listing | The China Show | 7/16/2026 We'll be watching those stocks at the bottom of the hour and the banks numbers, credit data for the first half also falling short of projections. them announcing measures on single stock leverage ETFs, which really has been And I wonder whether the stock market has become one of the things that the Right. And I wonder where the stock market It's not going to be micron. It's not gonna be a shortage forever. And then you have CSMT, right? So, um, I mean, markets look ahead. TSMC also reports today that's also something to consider when you look at the I trade at 1.7% on the Asia Pacific benchmark. Lots of individual stock moves to track ex palm Alibaba, Apple suppliers uh what have you ZTE I was going to be very much in focus there. So we'll we'll we'll we'll do a proper preview of the individual stocks we're already discussing raising the minimum deposit required to trade these rebalancing trades throughout the day instead of concentrating them near the Opposition lawmakers have publicly called for these products to be delisted, arguing that they are exacerbating volatility in stocks that And president L

US Launches New Airstrikes on Iran targeting is chiefly seems to be military installations along the coast,

Comments from USTR Greer suggest continued hardline US-China trade posture: ongoing Section 301/tariff framework, intensified enforcement against transshipment (DOJ+CBP), scrutiny of forced-labor-related supply chains, and a September checkpoint/stock-take with China including rare earth commitments. Market impact is primarily through (1) higher compliance/tariff risk for China-linked import supply chains and (2) potential support for US/Non-China domestic producers in categories affected by enforcement (e.g., solar, select industrial inputs) and (3) tail risk around rare earth supply disruptions/commitments ahead of September.

Program discusses Capitol Hill hearings (Fed Chair Kevin Warsh testimony; nominees Todd Blanche for AG and Jay Clayton for DNI) amid Senate Democrats blocking the defense authorization bill and an escalating U.S.–Iran conflict with additional U.S. strikes. Market relevance centers on (1) near-term defense-spending legislative risk vs. (2) geopolitics-driven defense/oil risk premia.