Geopolitics Alpha

For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found

Published . Updated .

Key takeaways

  • Exposed: USO, XLE, BWET, TUR, XOM
  • Market reaction: USO +2.4% on the day (still updating); XLE +1.6% on the day (still updating); BWET +4.9% on the day (still updating)

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ENERGYFor Golden, Crispy ThanksgivingTurkey Skin, We Tested Butter,Oil, and Mayo—Here’s What We FoundGEOPOLITICS ALPHA

This report is about oil and tanker shipping.

Directly affected

  • No company is named in this report.

Indirectly affected

  • USO United States Oil Fund-1.1% 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.

  • 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.

  • TUR iShares MSCI Turkey ETF-19.7% 30d

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

  • FRO Frontline+1.0% 30d

    Frontline (deep sea foreign transportation of freight): tanker owners earn more when more crude has to move by sea. Linked by “oil” (tanker shipping) 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.

  • DHT DHT Holdings

    DHT Holdings (deep sea foreign transportation of freight): tanker owners earn more when more crude has to move by sea. Linked by “oil” (tanker shipping) in this story.

  • CVX Chevron+3.3% 30d

    Chevron (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+2.78%+4.95%base+2.37%after closeafter closeafter close
XLE+2.11%-0.95%base+1.57%after closeafter closeafter close
BWET+35.67%+29.19%base+4.90%after closeafter closeafter close
TUR-0.63%-1.67%base+0.00%after closeafter closeafter close
FRO+10.52%+3.52%base+4.39%after closeafter closeafter close
XOM+3.07%+0.89%base+1.25%after closeafter closeafter close
DHT+6.01%-0.62%base+4.90%after closeafter closeafter close
CVX+2.73%+0.67%base+0.78%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.

For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found Serious Eats

Source: Serious Eats

United States Oil Fund (USO) compared with energy stocks (XLE) since 11 Nov 2026

CompanyWhenMoveStatus
Amplify Commodity Trust (BWET)that day+4.90%still updating
Amplify Commodity Trust (BWET)three days earlier+29.19%final price
Amplify Commodity Trust (BWET)five days earlier+35.67%final price
Chevron (CVX)that day+0.78%still updating
Chevron (CVX)three days earlier+0.67%final price
Chevron (CVX)five days earlier+2.73%final price
DHTthat day+4.90%still updating
DHTthree days earlier-0.62%final price
DHTfive days earlier+6.01%final price
FROthat day+4.39%still updating
FROthree days earlier+3.52%final price
FROfive days earlier+10.52%final price
Ishares (TUR)that day0.00%still updating
Ishares (TUR)three days earlier-1.67%final price
Ishares (TUR)five days earlier-0.63%final price
United States Oil Fund (USO)that day+2.37%still updating
United States Oil Fund (USO)three days earlier+4.95%final price
United States Oil Fund (USO)five days earlier+2.78%final price
Select Sector Spdr Tr (XLE)that day+1.57%still updating
Select Sector Spdr Tr (XLE)three days earlier-0.95%final price
Select Sector Spdr Tr (XLE)five days earlier+2.11%final price
ExxonMobil Holdings (XOM)that day+1.25%still updating
ExxonMobil Holdings (XOM)three days earlier+0.89%final price
ExxonMobil Holdings (XOM)five days earlier+3.07%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).

Who collects and who pays in energy

Companies tied to this story

  • USO United States Oil Fund

    In “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found,” 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

    Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story

  • BWET Amplify Commodity Trust

    Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found.” Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story

  • TUR Ishares

    For “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found,” Ishares (TUR) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Turkey ETF holds stocks listed in Turkey, which this story is about (“turkey”)

  • XOM ExxonMobil Holdings

    For “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found,” 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

    In “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found,” 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

  • COP Conocophillips

    Conocophillips (COP) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found.” Reason on file: ConocoPhillips (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 11 Nov 2026 story “For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found.” 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

United States Oil Fund (USO) and the energy link

“For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found” (11 Nov 2026) reaches United States Oil Fund (USO) through Energy.

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

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)

BWET traded between 788.51 and 1047.07 across 17 sessions. The latest close on file is 907.20. USO traded between 143.02 and 171.80 across 20 sessions. The latest close on file is 148.41. 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

“For Golden, Crispy Thanksgiving Turkey Skin, We Tested Butter, Oil, and Mayo—Here’s What We Found” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.