Brent Crude Climbs Back Above $96 as Iran Tensions Escalate
Published . Updated .
Key takeaways
- Oil prices have bounced back above $96 per barrel as Middle East tensions and supply disruptions challenge expectations of a global oil surplus.
- Exposed: USO, XLE, BWET, ITA, XOM
- Market reaction: USO −0.9% on the day (still updating); XLE +0.1% on the day (still updating); BWET +5.3% on the day (still updating)
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Oil prices have bounced back above $96 per barrel as Middle East tensions and supply disruptions challenge expectations of a global oil surplus.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “crude” (oil) in this story.
- XLE Energy Select Sector SPDR+7.5% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “crude” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “iran” (tanker shipping) in this story.
- ITA iShares U.S. Aerospace & Defense ETF+1.2% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “iran” (defense) in this story.
- XOM ExxonMobil Holdings-2.7% 17d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- CVX Chevron+4.7% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- OXY Occidental Petroleum+10.3% 18d
Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- COP ConocoPhillips+8.3% 30d
ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (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 | +1.59% | -3.20% | base | -0.93% | after close | after close | after close |
| XLE | -4.15% | -3.23% | base | +0.12% | after close | after close | after close |
| BWET | +16.99% | -9.44% | base | +5.27% | after close | after close | after close |
| ITA | -3.72% | +1.00% | base | -0.47% | after close | after close | after close |
| XOM | -2.28% | -3.14% | base | -0.18% | after close | after close | after close |
| CVX | -1.78% | -2.44% | base | +0.62% | after close | after close | after close |
| OXY | -3.42% | -2.60% | base | +0.12% | after close | after close | after close |
| COPNo price data for this ticker | — | — | — | — | — | — | — |
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.
Brent Crude Climbs Back Above $96 as Iran Tensions Escalate Crude Oil Prices Today | OilPrice.com
Price since this story was published: United States Oil Fund (USO)
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | that day | +5.27% | still updating |
| Amplify Commodity Trust (BWET) | three days earlier | -9.44% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | +16.99% | final price |
| Chevron (CVX) | that day | +0.62% | still updating |
| Chevron (CVX) | three days earlier | -2.44% | final price |
| Chevron (CVX) | five days earlier | -1.78% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | that day | -0.47% | still updating |
| IShares U.S. Aerospace & Defense ETF (ITA) | three days earlier | +1.00% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | five days earlier | -3.72% | final price |
| Occidental Petroleum (OXY) | that day | +0.12% | still updating |
| Occidental Petroleum (OXY) | three days earlier | -2.60% | final price |
| Occidental Petroleum (OXY) | five days earlier | -3.42% | final price |
| United States Oil Fund (USO) | that day | -0.93% | still updating |
| United States Oil Fund (USO) | three days earlier | -3.20% | final price |
| United States Oil Fund (USO) | five days earlier | +1.59% | final price |
| Select Sector Spdr Tr (XLE) | that day | +0.12% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | -3.23% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -4.15% | final price |
| ExxonMobil Holdings (XOM) | that day | -0.18% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | -3.14% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | -2.28% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 30 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 74 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 30 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 51 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 72 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Occidental Petroleum (OXY), worth $100,001 - $250,000 on 21 Aug 2026. That is 84 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 26 Aug 2026. That is 79 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 24 Aug 2026. That is 81 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Conocophillips (COP), worth $1,000,001 - $5,000,000 on 21 Aug 2026. That is 84 days before publication. Filed 8 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).
Middle East, seven days against thirty
Geopolitics Alpha has 0 stories about Middle East from the past 7 days and 0 stories from the past 30. “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate” is tagged to Middle East.
Who collects and who pays in energy
Companies that tend to gain
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) tends to benefit, medium confidence in the 13 Nov 2026 story “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate.” Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story
- CVX Chevron
For “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate,” Chevron (CVX) tends to benefit, medium confidence. Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story
- OXY Occidental Petroleum
For “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate,” Occidental Petroleum (OXY) tends to benefit, medium confidence. Reason on file: Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story
No up or down call on file
- USO United States Oil Fund
In “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate,” 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 “crude” (oil) in this story
- XLE Select Sector Spdr Tr
For “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate,” 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 “crude” (oil) in this story
- BWET Amplify Commodity Trust
In “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate,” 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 “iran” (tanker shipping) in this story
- ITA IShares U.S. Aerospace & Defense ETF
For “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate,” IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “iran” (defense) in this story
United States Oil Fund (USO) and the energy link
The 13 Nov 2026 story “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate” names United States Oil Fund (USO) because of Middle East.
United States Oil Fund (USO) is on the page because United States Oil Fund: its price follows crude oil. Linked by “crude” (oil) in this story
Also listed, Select Sector Spdr Tr (XLE): Energy Select Sector SPDR: its price follows crude oil. Linked by “crude” (oil) in this story
The price range for United States Oil Fund (USO), and the dates in the story
BWET traded between 788.51 and 1047.07 across 17 sessions. The latest close on file is 907.20. USO traded between 143.02 and 171.80 across 20 sessions. The latest close on file is 148.41. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.
How solid “Brent Crude Climbs Back Above $96 as Iran Tensions Escalate” looks
54 out of 100Price not final
“Brent Crude Climbs Back Above $96 as Iran Tensions Escalate” scores 54 out of 100. The score uses 2 sources, and 8 linked companies. The price is not final yet.