Iran Calls Continued Negotiations ‘Unreasonable’ Amid Shaky Ceasefire As Hormuz Fears Keep Oil Markets On Edge: ETFs To Tap For Quick Price Swings

by | Apr 9, 2026 | General

After suffering its biggest one-day drop of more than 13% since April 2020, oil prices bounced back, buoyed by persistent supply fears and disruptions in the Strait of Hormuz. Brent crude futures were up 2.7% at $97.35 per barrel while WTI crude rose 3.2% to $97.43 per barrel at the time of writing.

ETFs directly linked to futures contracts are gaining. Among them, United States Oil Fund (NYSE:USO) and United States Brent Oil Fund (NYSE:BNO) are significant. USO follows WTI futures prices while BNO tracks Brent futures. USO has Assets Under Management of $2.1 billion and an expense ratio of 0.70%. It trades in an average daily volume of about 66 million over the past month. BNO, with an AUM of $932.8 million, exchanged about 10 million shares over the past month. It charges a steep annual fee of 1.14%.

These funds tend to react quickly to price swings, making them suitable for investors looking to capitalize on near-term movements.

USO and BNO are up about 0.6% in after-hours trading at the time of writing after dropping nearly 10% in the normal trading day.

Strait of Hormuz Disruptions

The Strait of Hormuz, which accounts for roughly one-fifth of global oil supply, remained closed despite a two-week ceasefire between the U.S. and Iran. The crucial oil corridor continues to face operational and security constraints with fewer vessels moving through and concerns about supply disruptions lingering in the market.

Geopolitical Instability

Doubts over the ceasefire persist, with Israel launching fresh strikes in Lebanon on Wednesday, casting a shadow over its durability. Iran, in turn, said it would be “unreasonable” to continue negotiations toward a permanent peace deal under these conditions, according to a prior report.

Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, on Wednesday accused Washington of breaching the ceasefire agreement, reinforcing Tehran’s long-standing distrust of the United States.

Benzinga Edge Stock Rankings indicate that the USO ETF has a Momentum in the 96th percentile and checks out on Short, Medium and Long Price Trends.

Photo: QQMinh88 via Shutterstock