How Geopolitics Changed Refined Product Trade Flows

Published 22 Oct 2026, 01:52 UTC. Updated 22 Oct 2026, 01:52 UTC.

This report does not point to one industry. Broad-market names can move with it, and this note does not assume a direction.

Directly affected

CME Cme Group+4.9%
Named in this report.

Indirectly affected

SPY SPDR S&P 500+1.6%
The broad U.S. stock market
TLT iShares 20+ Year Treasury Bond-1.8%
Long-term U.S. government bonds
QQQ Invesco QQQ+2.3%
Large technology stocks
GLD SPDR Gold Shares-3.3%
Gold can move with the broad market

Price reaction, T-5 to T+3

Ticker	T-5	T-3	T-1	T0	T+1	T+2	T+3
CME	—	—	—	—	—	—	—
SPY	—	—	—	—	—	—	—
TLT	—	—	—	—	—	—	—
QQQ	—	—	—	—	—	—	—
GLD	—	—	—	—	—	—	—

Market Call

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How Geopolitics Changed Refined Product Trade Flows CME Group

Source: CME Group

How solid “How Geopolitics Changed Refined Product Trade Flows” looks

12 out of 100

“How Geopolitics Changed Refined Product Trade Flows” scores 12 out of 100. The score uses 1 sources.