Shares of the United States Oil Fund LP (NYSE:USO) rose 3.72% to $162.49 Tuesday afternoon, reaching a new 52-week high as benchmark crude futures rallied. Reports that state-owned Saudi Aramco deferred and canceled several September crude cargoes for European refiners, following the closure of Saudi Arabia's East-West pipeline to the Red Sea, intensified concerns over physical supply. USO tracks front-month crude oil futures, meaning the nearest-expiring contracts, so tighter prompt availability can lift the futures underlying the fund and its net asset value. Brent crude traded above $108 per barrel, adding to inflation concerns ahead of Wednesday's Federal Reserve interest rate decision.