Crude Oil Prices Surge on Possible Escalation of US-Iran War
Published . Updated .
November WTI crude oil (CLX26 ) closed up +2.45 (+2.71%) on Thursday, and November RBOB gasoline (RBX26 ) closed up +0.1421 (+4.36%). Crude oil and gasoline prices settled sharply higher on Thursday as talks between the US and Iran to end the war remain deadlocked, keeping the Strait of Hormuz...
Directly affected
- No company is named in this report.
Indirectly affected
- FRO Frontline
Tanker operators earn more when freight rates spike
- INSW International Seaways
Tanker operators earn more when freight rates spike
- DHT DHT Holdings
Tanker operators earn more when freight rates spike
- TNK Teekay Tankers
Tanker operators earn more when freight rates spike
- USO United States Oil Fund
Tracks U.S. crude prices when Gulf supply is at risk
- XLE Energy Select Sector SPDR
Energy companies move with a Gulf supply scare
- LMT Lockheed Martin
Defense contractors get more work when conflict spending rises
- XOM Exxon Mobil
Oil producers earn more when crude prices rise
- RTX RTX
Defense contractors get more work when conflict spending rises
- DAL Delta Air Lines
Airlines pay more for fuel when oil prices jump
Price reaction, T-5 to T+3
November WTI crude oil (CLX26 ) closed up +2.45 (+2.71%) on Thursday, and November RBOB gasoline (RBX26 ) closed up +0.1421 (+4.36%). Crude oil and gasoline prices settled sharply higher on Thursday as talks between the US and Iran to end…
Source: Nasdaq Markets
iShares S&P GSCI Commodity-Indexed Trust (GSG) compared with industrial stocks (XLI) since 1 Oct 2026
Since the first closing price after “Crude Oil Prices Surge on Possible Escalation of US-Iran War,” iShares S&P GSCI Commodity-Indexed Trust (GSG) is +3.51%. The S&P 500 fund (SPY) is -0.40% over the same days, a +3.90% difference versus the market. industrial stocks (XLI) is -1.91%, a +5.42% difference versus that group of stocks.
How busy Strait of Hormuz has been lately
Strait of Hormuz has 195 linked stories in the last 7 days and 195 in the last 30 on the page that also carries “Crude Oil Prices Surge on Possible Escalation of US-Iran War.” The recent pace is rising.
Who gains and who pays if Strait of Hormuz stays in the story
Companies carried with this story
- GSG iShares S&P GSCI Commodity-Indexed Trust
iShares S&P GSCI Commodity-Indexed Trust (GSG) is linked, with no stored direction, high confidence in the 1 Oct 2026 story “Crude Oil Prices Surge on Possible Escalation of US-Iran War.” Reason on file: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
- VDE Vanguard World Fd
Vanguard World Fd (VDE) is linked, with no stored direction, high confidence in the 1 Oct 2026 story “Crude Oil Prices Surge on Possible Escalation of US-Iran War.” Reason on file: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
- FENY
FENY is linked, with no stored direction, high confidence in the 1 Oct 2026 story “Crude Oil Prices Surge on Possible Escalation of US-Iran War.” Reason on file: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
- BNO United States Brent Oil Fund
For “Crude Oil Prices Surge on Possible Escalation of US-Iran War,” United States Brent Oil Fund (BNO) is linked, with no stored direction, high confidence. Reason on file: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
- UGA United States Gasoline Fund
In “Crude Oil Prices Surge on Possible Escalation of US-Iran War,” United States Gasoline Fund (UGA) is linked, with no stored direction, high confidence. Reason on file: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
- XOP State Street Spdr S&P Oil & Gas Exploration & Production Etf
In “Crude Oil Prices Surge on Possible Escalation of US-Iran War,” State Street Spdr S&P Oil & Gas Exploration & Production Etf (XOP) is linked, with no stored direction, high confidence. Reason on file: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
- IEZ Ishares U.S. Oil Equipment & Services Etf
In “Crude Oil Prices Surge on Possible Escalation of US-Iran War,” Ishares U.S. Oil Equipment & Services Etf (IEZ) is linked, with no stored direction, high confidence. Reason on file: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
- XME Spdr Series Trust
In “Crude Oil Prices Surge on Possible Escalation of US-Iran War,” Spdr Series Trust (XME) is linked, with no stored direction, medium confidence. Reason on file: Higher fuel and transport costs can propagate into commodity inputs, consumer margins, credit conditions, and interest-rate expectations
From Strait of Hormuz to iShares S&P GSCI Commodity-Indexed Trust (GSG)
The 1 Oct 2026 story “Crude Oil Prices Surge on Possible Escalation of US-Iran War” names iShares S&P GSCI Commodity-Indexed Trust (GSG) because of Strait of Hormuz.
What ties iShares S&P GSCI Commodity-Indexed Trust (GSG) to the headline is this: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
A second company, Vanguard World Fd (VDE), is listed for a different reason: Oil-transport or export disruption can transmit through crude and refined-product prices, energy-producer cash flows, and oil-services activity
Dates in the story, and the iShares S&P GSCI Commodity-Indexed Trust (GSG) price range
FENY traded between 34.72 and 37.59 across 10 sessions. The latest close on file is 37.19. GSG traded between 35.09 and 37.22 across 10 sessions. The latest close on file is 37.04. VDE traded between 176.54 and 190.84 across 10 sessions. The latest close on file is 189.01.
The defense score for iShares S&P GSCI Commodity-Indexed Trust (GSG)
46 out of 100
“Crude Oil Prices Surge on Possible Escalation of US-Iran War” scores 46 out of 100. The score uses 1 sources, and 30 linked companies.