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Oil and diesel price movements, SPR dynamics, and policy chatter are driving near-term volatility in oil ETFs; UCO tends to move with crude, so negative pre-market price action suggests near-term pressure.
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Economist Schiff warns record diesel costs and a depleted SPR could limit the U.S. energy buffer amid Iran tensions. WTI trades ~$93.55 and Brent ~$106, with diesel near $6.50/gal; UCO and USO slide pre-market as crude retreats. Diesel export ban talks and geopolitics add near-term volatility to energy ETFs.
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