Crude oil prices and refinery margins generally increased throughout the third quarter
Published . Updated .
Petroleum markets in the third quarter of 2026 (3Q26) were characterized by increasing prices for crude oil and petroleum products amid persistent conflict in the Middle East.
Directly affected
- No company is named in this report.
Indirectly affected
- LMT Lockheed Martin
Defense contractors get more work when conflict spending rises
- RTX RTX
Defense contractors get more work when conflict spending rises
- NOC Northrop Grumman
Defense contractors get more work when conflict spending rises
- GD General Dynamics
Defense contractors get more work when conflict spending rises
- XOM Exxon Mobil
Oil producers earn more when crude prices rise
- CVX Chevron
Oil producers earn more when crude prices rise
- ITA iShares U.S. Aerospace & Defense
A fund of aerospace and defense companies
- BA Boeing
Defense and aerospace orders move with conflict spending
- LHX L3Harris
Defense contractors get more work when conflict spending rises
- HII Huntington Ingalls
Shipyards benefit when naval spending rises
Price reaction, T-5 to T+3
United States Oil Fund (USO) compared with energy stocks (XLE) since 5 Oct 2026
Since the first closing price after “Crude oil prices and refinery margins generally increased throughout the third quarter,” United States Oil Fund (USO) is +10.97%. The S&P 500 fund (SPY) is -1.60% over the same days, a +12.58% difference versus the market. energy stocks (XLE) is +6.39%, a +4.59% difference versus that group of stocks.
Disclosure records for United States Oil Fund (USO) within two months of 5 Oct 2026
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 on the map for this story
Middle East has 0 linked stories in the last 7 days and 0 in the last 30 on the page that also carries “Crude oil prices and refinery margins generally increased throughout the third quarter.”
Companies in energy around United States Oil Fund (USO)
Companies tied to this story
- USO United States Oil Fund
For “Crude oil prices and refinery margins generally increased throughout the third quarter,” United States Oil Fund (USO) is linked, with no stored direction, high confidence. Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations
- BNO United States Brent Oil Fund
In “Crude oil prices and refinery margins generally increased throughout the third quarter,” United States Brent Oil Fund (BNO) is linked, with no stored direction, high confidence. Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations
- XLE Select Sector Spdr Tr
Select Sector Spdr Tr (XLE) is linked, with no stored direction, high confidence in the 5 Oct 2026 story “Crude oil prices and refinery margins generally increased throughout the third quarter.” Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations
- XOP State Street Spdr S&P Oil & Gas Exploration & Production Etf
State Street Spdr S&P Oil & Gas Exploration & Production Etf (XOP) is linked, with no stored direction, high confidence in the 5 Oct 2026 story “Crude oil prices and refinery margins generally increased throughout the third quarter.” Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations
- AEIS Advanced Energy Industries
Advanced Energy Industries (AEIS) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “Crude oil prices and refinery margins generally increased throughout the third quarter.” Reason on file: GA selected AEIS as a RELATED security because its canonical security name directly matches this event's themes: energy. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- AMPY Amplify Energy
In “Crude oil prices and refinery margins generally increased throughout the third quarter,” Amplify Energy (AMPY) is linked, with no stored direction, medium confidence. Reason on file: GA selected AMPY as a RELATED security because its canonical security name directly matches this event's themes: energy. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- ATO Atmos Energy
For “Crude oil prices and refinery margins generally increased throughout the third quarter,” Atmos Energy (ATO) is linked, with no stored direction, medium confidence. Reason on file: GA selected ATO as a RELATED security because its canonical security name directly matches this event's themes: energy. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- BE Bloom Energy
For “Crude oil prices and refinery margins generally increased throughout the third quarter,” Bloom Energy (BE) is linked, with no stored direction, medium confidence. Reason on file: GA selected BE as a RELATED security because its canonical security name directly matches this event's themes: energy. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
How energy news reaches United States Oil Fund (USO)
“Crude oil prices and refinery margins generally increased throughout the third quarter” (5 Oct 2026) reaches United States Oil Fund (USO) through Middle East.
The link for United States Oil Fund (USO) is this: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations
Also listed, United States Brent Oil Fund (BNO): Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations
Price levels for United States Oil Fund (USO)
BNO traded between 57.39 and 67.79 across 20 sessions. The latest close on file is 67.10. USO traded between 141.82 and 162.99 across 20 sessions. The latest close on file is 160.80. XLE traded between 60.95 and 68.51 across 20 sessions. The latest close on file is 67.80.
A simple score for United States Oil Fund (USO)
100 out of 100
“Crude oil prices and refinery margins generally increased throughout the third quarter” scores 100 out of 100. The score uses 10 linked companies.