Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge
Published . Updated .
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This report is about oil and container shipping. Names like XOM typically gain because exxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
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 “crude” (oil) in this story.
- XLE Energy Select Sector SPDR+8.9% 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 shipping freight. Linked by “shipping” (container shipping) in this story.
- IYT iShares U.S. Transportation ETF
iShares U.S. Transportation ETF: it holds transport and logistics firms. Linked by “shipping costs” (transport and logistics) 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 (“canadian”).
- XOM ExxonMobil Holdings+6.2% 16d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- CVX Chevron+12.5% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (oil) in this story.
- ZIM ZIM Integrated Shipping Services+1.3% 30d
ZIM Integrated Shipping Services (deep sea foreign transportation of freight): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping” (container shipping) 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 | +0.25% | after close | after close | after close |
| XLE | +1.44% | +2.16% | base | -0.66% | after close | after close | after close |
| BWET | -1.54% | +2.86% | base | -7.81% | after close | after close | after close |
| IYT | -1.11% | -1.81% | base | -0.23% | after close | after close | after close |
| EWC | +0.39% | +1.16% | base | -0.66% | after close | after close | after close |
| XOM | +0.06% | +1.89% | base | -1.13% | after close | after close | after close |
| CVX | +0.19% | +1.58% | base | -0.84% | after close | after close | after close |
| ZIM | +4.85% | +3.12% | base | +3.02% | 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.
Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge Oil & Gas 360
Source: Oil & Gas 360
United States Oil Fund (USO) compared with energy stocks (XLE) since 3 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | that day | -7.81% | still updating |
| Amplify Commodity Trust (BWET) | three days earlier | +2.86% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | -1.54% | final price |
| Chevron (CVX) | that day | -0.84% | still updating |
| Chevron (CVX) | three days earlier | +1.58% | final price |
| Chevron (CVX) | five days earlier | +0.19% | final price |
| Ishares Msci Canada Etf (EWC) | that day | -0.66% | 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 |
| Ishares Tr (IYT) | that day | -0.23% | still updating |
| Ishares Tr (IYT) | three days earlier | -1.81% | final price |
| Ishares Tr (IYT) | five days earlier | -1.11% | 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 |
| 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 |
| ZIM Integrated Shipping Services (ZIM) | that day | +3.02% | still updating |
| ZIM Integrated Shipping Services (ZIM) | three days earlier | +3.12% | final price |
| ZIM Integrated Shipping Services (ZIM) | five days earlier | +4.85% | final price |
Congressional trades in the stocks in this story
- 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).
Who gains and who loses around United States Oil Fund (USO)
Likely winners
- XOM ExxonMobil Holdings
For “Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge,” ExxonMobil Holdings (XOM) tends to benefit, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): 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 “Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge,” 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 “Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge,” 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 “Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge,” Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence. Reason on file: Breakwave Tanker Shipping ETF: it tracks shipping freight. Linked by “shipping” (container shipping) in this story
- IYT Ishares Tr
In “Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge,” Ishares Tr (IYT) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Transportation ETF: it holds transport and logistics firms. Linked by “shipping costs” (transport and logistics) in this story
United States Oil Fund (USO) and the energy link
“Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge” (3 Nov 2026) reaches United States Oil Fund (USO) through Energy.
The link for United States Oil Fund (USO) is this: United States Oil Fund: its price follows crude oil. Linked by “crude” (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 “crude” (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.
What the saved facts support for United States Oil Fund (USO)
46 out of 100Price not final
“Canadian heavy crude discounts hit widest levels since 2018 as shipping costs surge” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.