Geopolitics Alpha

ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands

Published . Updated .

Key takeaways

  • Exposed: UNG, XLE, USO, LNG, EQT
  • Market reaction: UNG +1.5% on the day (still updating); XLE −0.7% on the day (still updating); WMB +2.7% on the day (still updating)

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ENERGYADNOC Gas Inks TotalEnergies Dealas Global LNG Business ExpandsTTEGEOPOLITICS ALPHA

This report is about natural gas and oil.

Directly affected

  • TTE TotalEnergies SE

    Named in this report.

Indirectly affected

  • UNG United States Natural Gas Fund-17.0% 30d

    United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.

  • XLE Energy Select Sector SPDR+8.9% 30d

    Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.

  • USO United States Oil Fund+8.9% 30d

    United States Oil Fund: its price follows crude oil. Linked by “totalenergies” (oil) in this story.

  • LNG Cheniere Energy+14.1% 30d

    Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.

  • EQT Eqt+3.2% 30d

    Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.

  • KMI Kinder Morgan+4.8% 6d

    Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.

  • WMB The Williams Companies

    The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.

  • XOM ExxonMobil Holdings+6.2% 16d

    ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “totalenergies” (oil) in this story.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
TTE-0.44%+1.36%base-0.25%after closeafter closeafter close
UNG+6.94%+1.94%base+1.50%after closeafter closeafter close
XLE+1.44%+2.16%base-0.66%after closeafter closeafter close
USO+4.37%+7.30%base+0.25%after closeafter closeafter close
LNG-3.81%+2.35%base+0.34%after closeafter closeafter close
EQT+2.63%-0.55%base-0.28%after closeafter closeafter close
KMI+3.48%+3.80%base+1.13%after closeafter closeafter close
WMB+4.07%+5.18%base+2.67%after closeafter closeafter close
XOM+0.06%+1.89%base-1.13%after closeafter closeafter close

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.

ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands Natural Gas Intelligence

Source: Natural Gas Intelligence

United States Natural Gas Fund (UNG) since this story, compared with the market

CompanyWhenMoveStatus
Eqt (EQT)that day-0.28%still updating
Eqt (EQT)three days earlier-0.55%final price
Eqt (EQT)five days earlier+2.63%final price
Kinder Morgan (KMI)that day+1.13%still updating
Kinder Morgan (KMI)three days earlier+3.80%final price
Kinder Morgan (KMI)five days earlier+3.48%final price
Cheniere Energy (LNG)that day+0.34%still updating
Cheniere Energy (LNG)three days earlier+2.35%final price
Cheniere Energy (LNG)five days earlier-3.81%final price
TTEthat day-0.25%still updating
TTEthree days earlier+1.36%final price
TTEfive days earlier-0.44%final price
United States Natural Gas Fund (UNG)that day+1.50%still updating
United States Natural Gas Fund (UNG)three days earlier+1.94%final price
United States Natural Gas Fund (UNG)five days earlier+6.94%final price
United States Oil Fund (USO)that day+0.25%still updating
United States Oil Fund (USO)three days earlier+7.30%final price
United States Oil Fund (USO)five days earlier+4.37%final price
Williams Companies (WMB)that day+2.67%still updating
Williams Companies (WMB)three days earlier+5.18%final price
Williams Companies (WMB)five days earlier+4.07%final price
Select Sector Spdr Tr (XLE)that day-0.66%still updating
Select Sector Spdr Tr (XLE)three days earlier+2.16%final price
Select Sector Spdr Tr (XLE)five days earlier+1.44%final price
ExxonMobil Holdings (XOM)that day-1.13%still updating
ExxonMobil Holdings (XOM)three days earlier+1.89%final price
ExxonMobil Holdings (XOM)five days earlier+0.06%final price

Trades by members of Congress and officials in the stocks in this story

Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).

Who gains and who loses around United States Natural Gas Fund (UNG)

Companies mentioned with this story

  • UNG United States Natural Gas Fund

    In “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands,” United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence. Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story

  • XLE Select Sector Spdr Tr

    Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands.” Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story

  • USO United States Oil Fund

    In “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands,” United States Oil Fund (USO) is linked, with no stored direction, medium confidence. Reason on file: United States Oil Fund: its price follows crude oil. Linked by “totalenergies” (oil) in this story

  • LNG Cheniere Energy

    For “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands,” Cheniere Energy (LNG) is linked, with no stored direction, medium confidence. Reason on file: Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story

  • EQT Eqt

    For “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands,” Eqt (EQT) is linked, with no stored direction, medium confidence. Reason on file: Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story

  • KMI Kinder Morgan

    Kinder Morgan (KMI) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands.” Reason on file: Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story

  • WMB Williams Companies

    For “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands,” Williams Companies (WMB) is linked, with no stored direction, medium confidence. Reason on file: The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story

  • XOM ExxonMobil Holdings

    ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands.” Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “totalenergies” (oil) in this story

United States Natural Gas Fund (UNG) and the energy link

On 3 Nov 2026, “ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands” is the story that connects United States Natural Gas Fund (UNG) to Energy.

The link for United States Natural Gas Fund (UNG) is this: United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story

A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story

What this energy story puts on the calendar

UNG traded between 8.95 and 11.43 across 20 sessions. The latest close on file is 9.01. USO traded between 141.82 and 171.80 across 20 sessions. The latest close on file is 156.89. XLE traded between 62.95 and 70.15 across 20 sessions. The latest close on file is 67.26.

A simple score for United States Natural Gas Fund (UNG)

54 out of 100Price not final

“ADNOC Gas Inks TotalEnergies Deal as Global LNG Business Expands” scores 54 out of 100. The score uses 2 sources, and 8 linked companies. The price is not final yet.