How the Iran War is transforming the liquefied natural gas industry
Published . Updated .
Key takeaways
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This report is about natural gas and defense. Names like OXY typically gain because occidental Petroleum (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
Directly affected
- No company is 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 “natural gas” (natural gas) in this story.
- XLE Energy Select Sector SPDR+6.5% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story.
- ITA iShares U.S. Aerospace & Defense ETF+1.8% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “iran” (oil) in this story.
- LNG Cheniere Energy+9.1% 30d
Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- EQT Eqt-0.9% 30d
Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- KMI Kinder Morgan
Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- WMB The Williams Companies
The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (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 |
|---|---|---|---|---|---|---|---|
| UNG | -9.22% | -1.27% | base | after close | after close | after close | after close |
| XLE | -2.64% | -2.21% | base | after close | after close | after close | after close |
| ITA | -7.07% | -2.20% | base | after close | after close | after close | after close |
| USO | +4.74% | +0.82% | base | after close | after close | after close | after close |
| LNG | -8.19% | -6.39% | base | after close | after close | after close | after close |
| EQT | -3.93% | -5.26% | base | after close | after close | after close | after close |
| KMI | -4.40% | -3.20% | base | after close | after close | after close | after close |
| WMB | -6.77% | -3.55% | base | after close | after close | after close | after 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.
How the Iran War is transforming the liquefied natural gas industry Marketplace.org
Source: Marketplace.org
How far United States Natural Gas Fund (UNG) has moved since 12 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Eqt (EQT) | three days earlier | -5.26% | final price |
| Eqt (EQT) | five days earlier | -3.93% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | three days earlier | -2.20% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | five days earlier | -7.07% | final price |
| Kinder Morgan (KMI) | three days earlier | -3.20% | final price |
| Kinder Morgan (KMI) | five days earlier | -4.40% | final price |
| Cheniere Energy (LNG) | three days earlier | -6.39% | final price |
| Cheniere Energy (LNG) | five days earlier | -8.19% | final price |
| United States Natural Gas Fund (UNG) | three days earlier | -1.27% | final price |
| United States Natural Gas Fund (UNG) | five days earlier | -9.22% | final price |
| United States Oil Fund (USO) | three days earlier | +0.82% | final price |
| United States Oil Fund (USO) | five days earlier | +4.74% | final price |
| WMB | three days earlier | -3.55% | final price |
| WMB | five days earlier | -6.77% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -2.21% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.64% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 77 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 87 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 90 days before publication. Filed 14 Oct 2026. View the filing.
- Sen. Alan Armstrong sold Williams Companies (WMB) (jointly held), worth $250,001 - $500,000 on 8 Sep 2026. That is 65 days before publication. Filed 22 Oct 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $15,001 - $50,000 on 20 Aug 2026. That is 84 days before publication. Filed 17 Sep 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $1,001 - $15,000 on 19 Aug 2026. That is 85 days before publication. Filed 17 Sep 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 83 days before publication. Filed 8 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).
Companies in energy around United States Natural Gas Fund (UNG)
The side that tends to collect
- OXY Occidental Petroleum
Occidental Petroleum (OXY) tends to benefit, medium confidence in the 12 Nov 2026 story “How the Iran War is transforming the liquefied natural gas industry.” Reason on file: Occidental Petroleum (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
No up or down call on file
- UNG United States Natural Gas Fund
For “How the Iran War is transforming the liquefied natural gas industry,” 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 “natural gas” (natural gas) in this story
- XLE Select Sector Spdr Tr
In “How the Iran War is transforming the liquefied natural gas industry,” 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 “natural gas” (natural gas) in this story
- ITA IShares U.S. Aerospace & Defense ETF
For “How the Iran War is transforming the liquefied natural gas industry,” 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
- USO United States Oil Fund
United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “How the Iran War is transforming the liquefied natural gas industry.” Reason on file: United States Oil Fund: its price follows crude oil. Linked by “iran” (oil) in this story
United States Natural Gas Fund (UNG) and the energy link
“How the Iran War is transforming the liquefied natural gas industry” (12 Nov 2026) reaches United States Natural Gas Fund (UNG) through Energy.
For United States Natural Gas Fund (UNG), the reason on file says United States Natural Gas Fund: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
What this energy story puts on the calendar
ITA traded between 197.59 and 218.73 across 20 sessions. The latest close on file is 216.38. UNG traded between 8.95 and 11.43 across 20 sessions. The latest close on file is 9.34. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.
How solid the energy case looks
46 out of 100
“How the Iran War is transforming the liquefied natural gas industry” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.