Stock Track | ProShares UltraShort Crude Oil ETF Plunges 8.41% in Pre-Market as Oil Prices Surge on Trump's Hawkish Iran Remarks

Stock Track04-02 17:22

ProShares UltraShort Bloomberg Crude Oil (SCO) experienced a sharp pre-market decline of 8.41%. The ETF, designed to deliver twice the inverse of the daily performance of crude oil futures, moved inversely to a significant surge in oil prices during the session.

The price movement was driven by a sharp rally in international crude oil benchmarks following hawkish remarks from former U.S. President Donald Trump regarding the Iran conflict. In a speech, Trump indicated that "extremely猛烈" military strikes against Iran would be conducted in the coming weeks, dashing market hopes for a near-term de-escalation and reopening of the strategically vital Strait of Hormuz. This triggered a repricing of geopolitical risk premium, sending Brent crude oil prices soaring by 4% to 6% intraday, breaching the $105 per barrel level.

Analysts noted that the speech effectively shifted markets back into a risk-off mode, reinforcing a "high oil prices for longer" narrative. For the inverse oil ETF SCO, which rises when oil prices fall and falls when oil prices rise, the sharp uptick in crude benchmarks directly translated into substantial downward pressure during pre-market trading.

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