BoC’s Macklem signals more rate hikes as Oil fuels inflation risks
Published . Updated .
Key takeaways
Market Call
Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.
Get these market calls by email
The week's biggest market-moving stories, Congress trades and Trump posts, with the tickers they touch. Free, one email a week.
Free. We only use your email to send the digest, never sell or share it, and every email has a one-click unsubscribe link. See our privacy policy.
This report is about oil and tanker shipping.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund+8.9% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+8.9% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story.
- EWC iShares MSCI Canada ETF+0.1% 30d
iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“boc”).
- BWX SPDR Bloomberg International Treasury Bond ETF
SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Canada
- EFA iShares MSCI EAFE ETF-1.8% 10d
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Canada
- XOM ExxonMobil Holdings+6.2% 16d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- CVX Chevron+12.5% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | +4.37% | +7.30% | base | -0.01% | after close | after close | after close |
| XLE | +1.44% | +2.16% | base | -0.36% | after close | after close | after close |
| BWET | -1.54% | +2.86% | base | -8.08% | after close | after close | after close |
| EWC | +0.39% | +1.16% | base | -0.58% | after close | after close | after close |
| BWX | -0.05% | -0.07% | base | -0.21% | after close | after close | after close |
| EFA | -0.13% | +0.62% | base | -0.02% | after close | after close | after close |
| XOM | +0.06% | +1.89% | base | -1.00% | after close | after close | after close |
| CVX | +0.19% | +1.58% | base | -0.75% | after close | after close | after 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.
BoC’s Macklem signals more rate hikes as Oil fuels inflation risks FXStreet
Source: FXStreet
Price since this story was published: United States Oil Fund (USO)
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | that day | -8.08% | still updating |
| Amplify Commodity Trust (BWET) | three days earlier | +2.86% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | -1.54% | final price |
| Spdr Series Trust (BWX) | that day | -0.21% | still updating |
| Spdr Series Trust (BWX) | three days earlier | -0.07% | final price |
| Spdr Series Trust (BWX) | five days earlier | -0.05% | final price |
| Chevron (CVX) | that day | -0.75% | still updating |
| Chevron (CVX) | three days earlier | +1.58% | final price |
| Chevron (CVX) | five days earlier | +0.19% | final price |
| Ishares Tr (EFA) | that day | -0.02% | still updating |
| Ishares Tr (EFA) | three days earlier | +0.62% | final price |
| Ishares Tr (EFA) | five days earlier | -0.13% | final price |
| Ishares Msci Canada Etf (EWC) | that day | -0.58% | still updating |
| Ishares Msci Canada Etf (EWC) | three days earlier | +1.16% | final price |
| Ishares Msci Canada Etf (EWC) | five days earlier | +0.39% | final price |
| United States Oil Fund (USO) | that day | -0.01% | 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 |
| Select Sector Spdr Tr (XLE) | that day | -0.36% | 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 | -1.00% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | +1.89% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +0.06% | final price |
Congressional trades in the stocks in this story
- Sen. John Boozman sold Ishares Tr (EFA) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 55 days before publication. Filed 21 Oct 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 20 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 64 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 20 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 41 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 62 days before publication. Filed 7 Oct 2026. View the filing.
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).
United States Oil Fund (USO) on one side of this energy story
Companies carried with this story
- USO United States Oil Fund
For “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks,” 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 “oil” (oil) in this story
- XLE Select Sector Spdr Tr
For “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- BWET Amplify Commodity Trust
In “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks,” Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence. Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story
- EWC Ishares Msci Canada Etf
For “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks,” Ishares Msci Canada Etf (EWC) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“boc”)
- BWX Spdr Series Trust
Spdr Series Trust (BWX) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks.” Reason on file: SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Canada
- EFA Ishares Tr
For “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks,” Ishares Tr (EFA) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Canada
- XOM ExxonMobil Holdings
In “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- CVX Chevron
For “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks,” Chevron (CVX) is linked, with no stored direction, medium confidence. Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
United States Oil Fund (USO) and the energy link
On 3 Nov 2026, “BoC’s Macklem signals more rate hikes as Oil fuels inflation risks” is the story that connects United States Oil Fund (USO) to Energy.
What ties United States Oil Fund (USO) to the headline is this: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
Dates in the story, and the United States Oil Fund (USO) price range
BWET traded between 788.51 and 1047.07 across 17 sessions. The latest close on file is 907.20. 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 Oil Fund (USO)
46 out of 100Price not final
“BoC’s Macklem signals more rate hikes as Oil fuels inflation risks” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.