Geopolitics Alpha

Canada Trade Surplus Widens With Rise in Oil, Gold Exports

Published . Updated .

Key takeaways

  • Exposed: USO, XLE, GLD, BWET, EWC
  • Market reaction: XLE −3.7% on the day (still updating); USO −2.5% on the day (still updating); BWET −12.0% on the day (still updating)

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ENERGYCanada Trade Surplus Widens WithRise in Oil, Gold ExportsGEOPOLITICS ALPHA

This report is about oil and gold.

Directly affected

  • No company is named in this report.

Indirectly affected

  • USO United States Oil Fund+6.3% 30d

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

  • XLE Energy Select Sector SPDR+6.9% 30d

    Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.

  • GLD SPDR Gold Shares-3.1% 30d

    SPDR Gold Shares: it follows gold or gold miners. Linked by “gold” (gold) 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+0.9% 30d

    iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”).

  • AEM Agnico Eagle Mines-7.6% 30d

    Agnico Eagle Mines (gold and silver ores, with business in Canada): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story.

  • WPM Wheaton Precious Metals-22.5% 30d

    Wheaton Precious Metals (gold and silver ores, with business in Canada): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story.

  • XOM ExxonMobil Holdings+2.0% 16d

    ExxonMobil Holdings (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

TickerT-5T-3T-1T0T+1T+2T+3
USO+5.38%+6.75%base-2.52%after closeafter closeafter close
XLE+2.64%+4.95%base-3.73%after closeafter closeafter close
GLD+3.96%-0.97%base+3.01%after closeafter closeafter close
BWET+7.18%+11.56%base-12.01%after closeafter closeafter close
EWC+2.17%+0.68%base+1.90%after closeafter closeafter close
AEM+9.50%-1.15%base+7.46%after closeafter closeafter close
WPM+7.62%-0.80%base+6.86%after closeafter closeafter close
XOM+2.57%+5.49%base-2.82%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.

Canada Trade Surplus Widens With Rise in Oil, Gold Exports WSJ

Source: The Wall Street Journal

United States Oil Fund (USO) compared with energy stocks (XLE) since 4 Nov 2026

CompanyWhenMoveStatus
Agnico Eagle Mines (AEM)that day+7.46%still updating
Agnico Eagle Mines (AEM)three days earlier-1.15%final price
Agnico Eagle Mines (AEM)five days earlier+9.50%final price
Amplify Commodity Trust (BWET)that day-12.01%still updating
Amplify Commodity Trust (BWET)three days earlier+11.56%final price
Amplify Commodity Trust (BWET)five days earlier+7.18%final price
Ishares Msci Canada Etf (EWC)that day+1.90%still updating
Ishares Msci Canada Etf (EWC)three days earlier+0.68%final price
Ishares Msci Canada Etf (EWC)five days earlier+2.17%final price
Spdr Gold Trust (GLD)that day+3.01%still updating
Spdr Gold Trust (GLD)three days earlier-0.97%final price
Spdr Gold Trust (GLD)five days earlier+3.96%final price
United States Oil Fund (USO)that day-2.52%still updating
United States Oil Fund (USO)three days earlier+6.75%final price
United States Oil Fund (USO)five days earlier+5.38%final price
Wheaton Precious Metals (WPM)that day+6.86%still updating
Wheaton Precious Metals (WPM)three days earlier-0.80%final price
Wheaton Precious Metals (WPM)five days earlier+7.62%final price
Select Sector Spdr Tr (XLE)that day-3.73%still updating
Select Sector Spdr Tr (XLE)three days earlier+4.95%final price
Select Sector Spdr Tr (XLE)five days earlier+2.64%final price
ExxonMobil Holdings (XOM)that day-2.82%still updating
ExxonMobil Holdings (XOM)three days earlier+5.49%final price
ExxonMobil Holdings (XOM)five days earlier+2.57%final price

Congressional trades 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).

United States Oil Fund (USO) on one side of this energy story

Companies mentioned with this story

  • USO United States Oil Fund

    United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Canada Trade Surplus Widens With Rise in Oil, Gold Exports.” 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 “Canada Trade Surplus Widens With Rise in Oil, Gold Exports,” 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

  • GLD Spdr Gold Trust

    Spdr Gold Trust (GLD) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Canada Trade Surplus Widens With Rise in Oil, Gold Exports.” Reason on file: SPDR Gold Shares: it follows gold or gold miners. Linked by “gold” (gold) in this story

  • BWET Amplify Commodity Trust

    Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Canada Trade Surplus Widens With Rise in Oil, Gold Exports.” 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

    Ishares Msci Canada Etf (EWC) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Canada Trade Surplus Widens With Rise in Oil, Gold Exports.” Reason on file: iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”)

  • AEM Agnico Eagle Mines

    Agnico Eagle Mines (AEM) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Canada Trade Surplus Widens With Rise in Oil, Gold Exports.” Reason on file: Agnico Eagle Mines (gold and silver ores, with business in Canada): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story

  • WPM Wheaton Precious Metals

    Wheaton Precious Metals (WPM) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Canada Trade Surplus Widens With Rise in Oil, Gold Exports.” Reason on file: Wheaton Precious Metals (gold and silver ores, with business in Canada): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story

  • XOM ExxonMobil Holdings

    For “Canada Trade Surplus Widens With Rise in Oil, Gold Exports,” 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

United States Oil Fund (USO) and the energy link

On 4 Nov 2026, “Canada Trade Surplus Widens With Rise in Oil, Gold Exports” is the story that connects United States Oil Fund (USO) to Energy.

For United States Oil Fund (USO), the reason on file says 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

Price levels for United States Oil Fund (USO)

GLD traded between 373.41 and 400.78 across 20 sessions. The latest close on file is 379.67. USO traded between 142.51 and 171.80 across 20 sessions. The latest close on file is 158.17. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.

How strong the case is around United States Oil Fund (USO)

46 out of 100Price not final

“Canada Trade Surplus Widens With Rise in Oil, Gold Exports” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.