Geopolitics Alpha

Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries

Published . Updated .

Key takeaways

  • Exposed: USO, XLE, CRAK, UNG, XOM
  • Market reaction: XLE −2.3% on the day; USO +1.9% on the day; CRAK −3.5% on the day

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.

ENERGYCrude Oil Prices Rebound asUkraine Attacks Russian RefineriesGEOPOLITICS ALPHA

This report is about oil and refining.

Directly affected

  • No company is named in this report.

Indirectly affected

  • USO United States Oil Fund-5.0% 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.

  • CRAK VanEck Oil Refiners ETF

    VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refineries” (refining) in this story.

  • UNG United States Natural Gas Fund-19.6% 30d

    United States Natural Gas Fund: it follows natural-gas prices. Linked by “russian” (natural gas) in this story.

  • XOM ExxonMobil Holdings-2.7% 17d

    ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.

  • CVX Chevron+5.5% 30d

    Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.

  • SHEL Shell+3.5% 11d

    Shell (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (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 “oil” (oil) in this story.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
USO+15.71%+7.84%base+1.93%after closeafter closeafter close
XLE+8.14%+5.85%base-2.34%after closeafter closeafter close
CRAK+4.46%+3.83%base-3.53%after closeafter closeafter close
UNG-1.02%-2.91%base-0.22%after closeafter closeafter close
XOM+8.08%+6.08%base-2.44%after closeafter closeafter close
CVX+6.66%+5.01%base-0.72%after closeafter closeafter close
SHEL+5.73%+3.06%base-1.69%after closeafter closeafter close
OXY+9.89%+5.90%base-1.69%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.

Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries Barchart.com

Source: Barchart.com

Price since this story was published: United States Oil Fund (USO)

CompanyWhenMoveStatus
Vaneck Etf Trust (CRAK)that day-3.53%final price
Vaneck Etf Trust (CRAK)three days earlier+3.83%final price
Vaneck Etf Trust (CRAK)five days earlier+4.46%final price
Chevron (CVX)that day-0.72%final price
Chevron (CVX)three days earlier+5.01%final price
Chevron (CVX)five days earlier+6.66%final price
Occidental Petroleum (OXY)that day-1.69%final price
Occidental Petroleum (OXY)three days earlier+5.90%final price
Occidental Petroleum (OXY)five days earlier+9.89%final price
Shell (SHEL)that day-1.69%final price
Shell (SHEL)three days earlier+3.06%final price
Shell (SHEL)five days earlier+5.73%final price
United States Natural Gas Fund (UNG)that day-0.22%final price
United States Natural Gas Fund (UNG)three days earlier-2.91%final price
United States Natural Gas Fund (UNG)five days earlier-1.02%final price
United States Oil Fund (USO)that day+1.93%final price
United States Oil Fund (USO)three days earlier+7.84%final price
United States Oil Fund (USO)five days earlier+15.71%final price
Select Sector Spdr Tr (XLE)that day-2.34%final price
Select Sector Spdr Tr (XLE)three days earlier+5.85%final price
Select Sector Spdr Tr (XLE)five days earlier+8.14%final price
ExxonMobil Holdings (XOM)that day-2.44%final price
ExxonMobil Holdings (XOM)three days earlier+6.08%final price
ExxonMobil Holdings (XOM)five days earlier+8.08%final price

Trades by members of Congress and officials 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).

Companies in energy around United States Oil Fund (USO)

Companies tied to this story

  • USO United States Oil Fund

    In “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries,” 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

    In “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries,” 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

  • CRAK Vaneck Etf Trust

    Vaneck Etf Trust (CRAK) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries.” Reason on file: VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refineries” (refining) in this story

  • UNG United States Natural Gas Fund

    For “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries,” United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence. Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “russian” (natural gas) in this story

  • XOM ExxonMobil Holdings

    In “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries,” 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 “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries,” 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

  • SHEL Shell

    Shell (SHEL) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries.” Reason on file: Shell (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story

  • OXY Occidental Petroleum

    In “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries,” Occidental Petroleum (OXY) is linked, with no stored direction, medium confidence. Reason on file: Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story

How energy news reaches United States Oil Fund (USO)

United States Oil Fund (USO) is the company in “Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries,” the 5 Nov 2026 Energy story.

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

Select Sector Spdr Tr (XLE) is here too. Its reason reads: 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

USO traded between 143.02 and 171.80 across 20 sessions. The latest close on file is 145.42. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.

How solid the energy case looks

46 out of 100

“Crude Oil Prices Rebound as Ukraine Attacks Russian Refineries” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.