Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal
Published . Updated .
States like Saudi Arabia and the United Arab Emirates that have worked to rebalance from a dependence on energy have seen growth plunge in a year of strife.
Directly affected
- No company is named in this report.
Indirectly affected
- ITA iShares U.S. Aerospace & Defense ETF-3.0% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- XAR SPDR S&P Aerospace & Defense ETF-6.6% 30d
SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- USO United States Oil Fund+13.9% 30d
United States Oil Fund: its price follows crude oil. Linked by “gulf” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “gulf” (tanker shipping) in this story.
- KSA iShares MSCI Saudi Arabia ETF-7.6% 30d
iShares MSCI Saudi Arabia ETF holds stocks listed in Saudi Arabia, which this story is about (“saudi”).
- UAE iShares MSCI UAE ETF
iShares MSCI UAE ETF holds stocks listed in the UAE, which this story is about (“emirates”).
- XOM ExxonMobil Holdings+13.4% 16d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “gulf” (oil) in this story.
- CVX Chevron+15.7% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “gulf” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| ITANo price data for this ticker | — | — | — | — | — | — | — |
| XARNo price data for this ticker | — | — | — | — | — | — | — |
| USO | -1.54% | -1.29% | base | -5.78% | after close | after close | after close |
| BWETNo price data for this ticker | — | — | — | — | — | — | — |
| KSANo price data for this ticker | — | — | — | — | — | — | — |
| UAENo price data for this ticker | — | — | — | — | — | — | — |
| XOM | -1.45% | -2.77% | base | -1.98% | after close | after close | after close |
| CVXNo price data for this ticker | — | — | — | — | — | — | — |
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.
Market Call
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States like Saudi Arabia and the United Arab Emirates that have worked to rebalance from a dependence on energy have seen growth plunge in a year of strife.
Source: The New York Times
IShares U.S. Aerospace & Defense ETF (ITA) since this story, compared with the market
| Company | When | Move | Status |
|---|---|---|---|
| United States Oil Fund (USO) | that day | -5.78% | still updating |
| United States Oil Fund (USO) | three days earlier | -1.29% | final price |
| United States Oil Fund (USO) | five days earlier | -1.54% | final price |
| ExxonMobil Holdings (XOM) | that day | -1.98% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | -2.77% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | -1.45% | 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 19 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 63 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 19 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 40 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 61 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).
IShares U.S. Aerospace & Defense ETF (ITA) on one side of this defense story
The side that tends to collect
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) tends to benefit, medium confidence in the 2 Nov 2026 story “Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal.” Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “gulf” (oil) in this story
- CVX Chevron
Chevron (CVX) tends to benefit, medium confidence in the 2 Nov 2026 story “Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal.” Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “gulf” (oil) in this story
No up or down call on file
- ITA IShares U.S. Aerospace & Defense ETF
For “Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal,” IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
- XAR Spdr Series Trust
In “Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal,” Spdr Series Trust (XAR) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
- USO United States Oil Fund
For “Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal,” 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 “gulf” (oil) in this story
- BWET Amplify Commodity Trust
In “Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal,” Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence. Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “gulf” (tanker shipping) in this story
IShares U.S. Aerospace & Defense ETF (ITA) and the defense link
IShares U.S. Aerospace & Defense ETF (ITA) is the company in “Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal,” the 2 Nov 2026 Defense story.
What ties IShares U.S. Aerospace & Defense ETF (ITA) to the headline is this: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
Also listed, Spdr Series Trust (XAR): SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
Price levels for IShares U.S. Aerospace & Defense ETF (ITA)
ITA traded between 197.59 and 215.76 across 20 sessions. The latest close on file is 209.72. USO traded between 141.82 and 171.80 across 20 sessions. The latest close on file is 168.83. XAR traded between 210.89 and 237.55 across 20 sessions. The latest close on file is 227.38.
What the saved facts support for IShares U.S. Aerospace & Defense ETF (ITA)
46 out of 100Price not final
“Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.