Hormuz LNG shipments hit wartime high, but Qatar lags
Published . Updated .
Key takeaways
- Some 31 LNG carriers transited the Strait of Hormuz in October, the highest number since February before the Iran war began, according to data from S&P Global Energy.
- Exposed: UNG, XLE, USO, BWET, QAT
- Market reaction: XLE −0.7% on the day (still updating); UNG +0.2% on the day (still updating); BWET −10.4% on the day (still updating)
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.
Some 31 LNG carriers transited the Strait of Hormuz in October, the highest number since February before the Iran war began, according to data from S&P Global Energy.
Directly affected
- SPGI S&P Global+20.0% 30d
Named in this report.
Indirectly affected
- UNG United States Natural Gas Fund-13.5% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- XLE Energy Select Sector SPDR+6.9% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “hormuz” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “hormuz” (tanker shipping) in this story.
- QAT iShares MSCI Qatar ETF
iShares MSCI Qatar ETF holds stocks listed in Qatar, which this story is about (“qatar”).
- XOM ExxonMobil Holdings-2.7% 17d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “hormuz” (oil) in this story.
- CVX Chevron+3.1% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “hormuz” (oil) in this story.
- OXY Occidental Petroleum+10.3% 18d
Occidental Petroleum (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| SPGINo price data for this ticker | — | — | — | — | — | — | — |
| UNG | -9.43% | -8.04% | base | +0.20% | after close | after close | after close |
| XLE | +7.65% | -0.44% | base | -0.73% | after close | after close | after close |
| USO | +10.89% | +3.88% | base | -0.60% | after close | after close | after close |
| BWET | +44.12% | +15.72% | base | -10.42% | after close | after close | after close |
| QAT | -3.28% | +0.00% | base | — | after close | after close | after close |
| XOMNo price data for this ticker | — | — | — | — | — | — | — |
| CVXNo price data for this ticker | — | — | — | — | — | — | — |
| OXYNo 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.
Hormuz LNG shipments hit wartime high, but Qatar lags Al-Monitor
Source: Al-Monitor
How United States Natural Gas Fund (UNG) moved across the last 16 energy stories
Those 16 earlier stories put United States Natural Gas Fund (UNG) at an average move of +0.44% the next day. Largest gain +0.44%, largest drop +0.44%, from 1 prices.
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| United States Natural Gas Fund (UNG) | the next day | +0.44% | +0.44% | +0.44% | 1 |
| United States Natural Gas Fund (UNG) | three days later | +1.98% | +1.98% | +1.98% | 1 |
| Select Sector Spdr Tr (XLE) | the next day | -4.84% | -1.51% | -5.58% | 9 |
| Select Sector Spdr Tr (XLE) | three days later | -8.52% | -0.87% | -11.35% | 9 |
| United States Oil Fund (USO) | the next day | -6.51% | -3.69% | -7.20% | 14 |
| United States Oil Fund (USO) | three days later | -8.31% | -1.37% | -12.25% | 14 |
| Amplify Commodity Trust (BWET) | the next day | -15.91% | -10.37% | -22.25% | 15 |
| Amplify Commodity Trust (BWET) | three days later | -27.62% | -25.97% | -28.03% | 10 |
- Kuwait turns up the volume on oil production despite Hormuz threats
- New Wave of Attacks Hits Tankers and LNG Carrier in Strait of Hormuz and Persian Gulf
- Shafaq News..Iran: Tanker struck mine east of Hormuz
- Higher Strait of Hormuz flows help close the gap in product tanker rates
- Iran Reports Explosions on Two Oil Tankers in Strait of Hormuz
- Global oil supply down nearly 1 bln barrels since Hormuz disruption, warns ADNOC CEO
The price since 10 Nov 2026: United States Natural Gas Fund (UNG) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | that day | -10.42% | still updating |
| Amplify Commodity Trust (BWET) | three days earlier | +15.72% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | +44.12% | final price |
| Ishares Tr (QAT) | three days earlier | 0.00% | final price |
| Ishares Tr (QAT) | five days earlier | -3.28% | final price |
| United States Natural Gas Fund (UNG) | that day | +0.20% | still updating |
| United States Natural Gas Fund (UNG) | three days earlier | -8.04% | final price |
| United States Natural Gas Fund (UNG) | five days earlier | -9.43% | final price |
| United States Oil Fund (USO) | that day | -0.60% | still updating |
| United States Oil Fund (USO) | three days earlier | +3.88% | final price |
| United States Oil Fund (USO) | five days earlier | +10.89% | final price |
| Select Sector Spdr Tr (XLE) | that day | -0.73% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | -0.44% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +7.65% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Rohit Khanna sold S&P Global (SPGI) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 46 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold S&P Global (SPGI) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 75 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold S&P Global (SPGI), worth $1,001 - $15,000 on 24 Aug 2026. That is 78 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 27 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 71 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 27 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 48 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 69 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Occidental Petroleum (OXY), worth $100,001 - $250,000 on 21 Aug 2026. That is 81 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 75 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Eqt (EQT), worth $1,001 - $15,000 on 17 Aug 2026. That is 85 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 14 Aug 2026. That is 88 days before publication. Filed 14 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).
How busy Strait of Hormuz has been lately
Geopolitics Alpha has 181 stories about Strait of Hormuz from the past 7 days and 673 stories from the past 30. That is about its usual pace over the past month. “Hormuz LNG shipments hit wartime high, but Qatar lags” is tagged to Strait of Hormuz.
Who gains and who loses around United States Natural Gas Fund (UNG)
Companies tied to this story
- UNG United States Natural Gas Fund
For “Hormuz LNG shipments hit wartime high, but Qatar lags,” 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 “lng” (natural gas) in this story
- XLE Select Sector Spdr Tr
For “Hormuz LNG shipments hit wartime high, but Qatar lags,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
- USO United States Oil Fund
In “Hormuz LNG shipments hit wartime high, but Qatar lags,” 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 “lng” (oil) in this story
- BWET Amplify Commodity Trust
In “Hormuz LNG shipments hit wartime high, but Qatar lags,” 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 “lng” (tanker shipping) in this story
- QAT Ishares Tr
In “Hormuz LNG shipments hit wartime high, but Qatar lags,” Ishares Tr (QAT) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Qatar ETF holds stocks listed in Qatar, which this story is about (“qatar”)
- LNG Cheniere Energy
In “Hormuz LNG shipments hit wartime high, but Qatar lags,” Cheniere Energy (LNG) is linked, with no stored direction, medium confidence. Reason on file: Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
- EQT Eqt
Eqt (EQT) is linked, with no stored direction, medium confidence in the 10 Nov 2026 story “Hormuz LNG shipments hit wartime high, but Qatar lags.” Reason on file: Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
- KMI Kinder Morgan
For “Hormuz LNG shipments hit wartime high, but Qatar lags,” Kinder Morgan (KMI) is linked, with no stored direction, medium confidence. Reason on file: Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
What Strait of Hormuz means for United States Natural Gas Fund (UNG)
The 10 Nov 2026 story “Hormuz LNG shipments hit wartime high, but Qatar lags” names United States Natural Gas Fund (UNG) because of Strait of Hormuz.
What ties United States Natural Gas Fund (UNG) to the headline is this: United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
Select Sector Spdr Tr (XLE) is here too. Its reason reads: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
The price range for United States Natural Gas Fund (UNG), and the dates in the story
UNG traded between 8.95 and 11.43 across 20 sessions. The latest close on file is 9.34. 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.
The energy score for United States Natural Gas Fund (UNG)
46 out of 100Price not final
“Hormuz LNG shipments hit wartime high, but Qatar lags” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.