Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz
Published . Updated .
Key takeaways
- Nov 8 (Reuters) – Iraq has reached understandings with the United States to allow Iraqi oil exports through the Strait of Hormuz via a shipping lane near Oman, Foreign Minister Fuad Hussein said in...
- Exposed: USO, XLE, BWET, XOM, CVX
- Market reaction: price tracking starts with the next trading session.
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.
Nov 8 (Reuters) – Iraq has reached understandings with the United States to allow Iraqi oil exports through the Strait of Hormuz via a shipping lane near Oman, Foreign Minister Fuad Hussein said in...
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 shipping freight. Linked by “shipping lane” (container 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.
- CVX Chevron+3.0% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- COP ConocoPhillips+6.9% 30d
ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- SHEL Shell+3.5% 11d
Shell (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- ZIM ZIM Integrated Shipping Services-2.4% 30d
ZIM Integrated Shipping Services (deep sea foreign transportation of freight): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping lane” (container shipping) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | +5.62% | -2.06% | base | after close | after close | after close | after close |
| XLE | +9.12% | +3.08% | base | after close | after close | after close | after close |
| BWET | +35.08% | +5.02% | base | after close | after close | after close | after close |
| XOM | +8.37% | +2.16% | base | after close | after close | after close | after close |
| CVX | +7.15% | +2.05% | base | after close | after close | after close | after close |
| COP | +7.74% | +0.44% | base | after close | after close | after close | after close |
| SHEL | +5.91% | +2.77% | base | after close | after close | after close | after close |
| ZIM | +1.38% | +2.00% | 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.
Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz gCaptain
Source: gCaptain
What happened to United States Oil Fund (USO) the last 17 times Strait of Hormuz was in the news
In the last 17 similar stories, United States Oil Fund (USO) moved an average of -6.32% the next day. The best was -6.32% and the worst was -6.32%, from 13 prices.
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| United States Oil Fund (USO) | the next day | -6.32% | -6.32% | -6.32% | 13 |
| United States Oil Fund (USO) | three days later | -12.25% | -12.25% | -12.25% | 13 |
| Select Sector Spdr Tr (XLE) | the next day | -4.71% | -4.71% | -4.71% | 3 |
| Select Sector Spdr Tr (XLE) | three days later | -11.35% | -11.35% | -11.35% | 3 |
| Amplify Commodity Trust (BWET) | the next day | -10.37% | -10.37% | -10.37% | 17 |
| Amplify Commodity Trust (BWET) | three days later | -28.03% | -28.03% | -28.03% | 17 |
| ExxonMobil Holdings (XOM) | the next day | -5.21% | -5.21% | -5.21% | 12 |
| ExxonMobil Holdings (XOM) | three days later | -11.72% | -11.72% | -11.72% | 12 |
- Trump says Iran war will end soon, US military insists Hormuz is secure
- India news: Tanker carrying 27 Indians attacked in Strait of Hormuz
- Tankers on fire in the Strait of Hormuz: what Iran claims, what others confirm and why oil keeps rising
- Tanker Struck By Limpet Mines In Strait of Hormuz In First Such Attack Since 2019
- Concerns Grow Over Security of Strait of Hormuz Despite US Claims
- Iran Says Fourth Oil Tanker Hit Mine in Hormuz After Ignoring Warnings
The price since 9 Nov 2026: United States Oil Fund (USO) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | three days earlier | +5.02% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | +35.08% | final price |
| Conocophillips (COP) | three days earlier | +0.44% | final price |
| Conocophillips (COP) | five days earlier | +7.74% | final price |
| Chevron (CVX) | three days earlier | +2.05% | final price |
| Chevron (CVX) | five days earlier | +7.15% | final price |
| Shell (SHEL) | three days earlier | +2.77% | final price |
| Shell (SHEL) | five days earlier | +5.91% | final price |
| United States Oil Fund (USO) | three days earlier | -2.06% | final price |
| United States Oil Fund (USO) | five days earlier | +5.62% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | +3.08% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +9.12% | final price |
| ExxonMobil Holdings (XOM) | three days earlier | +2.16% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +8.37% | final price |
| ZIM | three days earlier | +2.00% | final price |
| ZIM | five days earlier | +1.38% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 26 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 70 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 26 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 47 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 68 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 26 Aug 2026. That is 75 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 24 Aug 2026. That is 77 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Conocophillips (COP), worth $1,000,001 - $5,000,000 on 21 Aug 2026. That is 80 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).
Strait of Hormuz, seven days against thirty
Geopolitics Alpha has 174 stories about Strait of Hormuz from the past 7 days and 641 stories from the past 30. That is about its usual pace over the past month. “Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz” is tagged to Strait of Hormuz.
Companies in energy around United States Oil Fund (USO)
The side that tends to collect
- FRO Frontline
For “Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz,” Frontline (FRO) tends to benefit, medium confidence. Reason on file: 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
No up or down call on file
- USO United States Oil Fund
In “Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz,” 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 9 Nov 2026 story “Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- BWET Amplify Commodity Trust
In “Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz,” 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 “oil” (tanker shipping) in this story
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence in the 9 Nov 2026 story “Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz.” Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
How a Strait of Hormuz shock reaches United States Oil Fund (USO)
On 9 Nov 2026, “Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz” is the story that connects United States Oil Fund (USO) to Strait of Hormuz.
United States Oil Fund (USO) is on the page because United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
Also listed, Select Sector Spdr Tr (XLE): Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
Dates in the story, and the United States Oil Fund (USO) price range
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.
A simple score for United States Oil Fund (USO)
46 out of 100
“Iraq Has Reached Understandings With US To Allow Oil Exports Through Hormuz” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.