LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed
Published . Updated .
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Strait of Hormuz LNG cargoes hit their highest monthly total since the US-Iran war began in February, with 19 to 21 tankers exiting in September -- still only one-fifth of pre-war levels. European
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 “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.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “tanker” (tanker shipping) 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.
- VGK Vanguard FTSE Europe ETF
Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“europe”).
- FRO Frontline+1.0% 30d
Frontline (deep sea foreign transportation of freight, with business in Europe): tanker owners earn more when more crude has to move by sea. Linked by “tanker” (tanker shipping) in this story.
- DHT DHT Holdings
DHT Holdings (deep sea foreign transportation of freight): tanker owners earn more when more crude has to move by sea. Linked by “tanker” (tanker shipping) in this story.
- TNK Teekay Tankers
Teekay Tankers (water transportation): tanker owners earn more when more crude has to move by sea. Linked by “tanker” (tanker 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 |
|---|---|---|---|---|---|---|---|
| UNG | -3.53% | -0.64% | 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 |
| USO | +5.62% | -2.06% | base | after close | after close | after close | after close |
| VGK | +0.86% | +3.36% | base | after close | after close | after close | after close |
| FRO | +14.63% | +6.76% | base | after close | after close | after close | after close |
| DHT | +15.43% | +6.67% | base | after close | after close | after close | after close |
| TNK | +11.16% | +3.34% | 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.
LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed CGEP
Source: CGEP
Earlier energy stories for United States Natural Gas Fund (UNG): 14 cases
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| Select Sector Spdr Tr (XLE) | the next day | -4.71% | -4.71% | -4.71% | 2 |
| Select Sector Spdr Tr (XLE) | three days later | -11.35% | -11.35% | -11.35% | 2 |
| United States Oil Fund (USO) | the next day | -6.32% | -6.32% | -6.32% | 11 |
| United States Oil Fund (USO) | three days later | -12.25% | -12.25% | -12.25% | 11 |
| Amplify Commodity Trust (BWET) | the next day | -10.37% | -10.37% | -10.37% | 14 |
| Amplify Commodity Trust (BWET) | three days later | -28.03% | -28.03% | -28.03% | 14 |
- 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
Price since this story was published: United States Natural Gas Fund (UNG)
| 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 |
| DHT | three days earlier | +6.67% | final price |
| DHT | five days earlier | +15.43% | final price |
| FRO | three days earlier | +6.76% | final price |
| FRO | five days earlier | +14.63% | final price |
| TNK | three days earlier | +3.34% | final price |
| TNK | five days earlier | +11.16% | final price |
| United States Natural Gas Fund (UNG) | three days earlier | -0.64% | final price |
| United States Natural Gas Fund (UNG) | five days earlier | -3.53% | 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 |
| Vanguard Intl Equity Index F (VGK) | three days earlier | +3.36% | final price |
| Vanguard Intl Equity Index F (VGK) | five days earlier | +0.86% | 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 |
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 74 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 84 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 87 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).
Strait of Hormuz on the map for this story
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. “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed” is tagged to Strait of Hormuz.
Who gains and who loses around United States Natural Gas Fund (UNG)
Companies mentioned with this story
- UNG United States Natural Gas Fund
United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence in the 9 Nov 2026 story “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed.” 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 “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed,” 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
For “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed,” 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
For “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed,” 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
- VGK Vanguard Intl Equity Index F
In “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed,” Vanguard Intl Equity Index F (VGK) is linked, with no stored direction, medium confidence. Reason on file: Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“europe”)
- LNG Cheniere Energy
For “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed,” 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
For “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed,” Eqt (EQT) is linked, with no stored direction, medium confidence. 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
In “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed,” 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
United States Natural Gas Fund (UNG) and the energy link
On 9 Nov 2026, “LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed” is the story that connects United States Natural Gas Fund (UNG) to Strait of Hormuz.
United States Natural Gas Fund (UNG) is on the page because United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
Also listed, Select Sector Spdr Tr (XLE): Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
Price levels for United States Natural Gas Fund (UNG)
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.
How strong the case is around United States Natural Gas Fund (UNG)
46 out of 100
“LNG Cargoes Through Hormuz Hit Wartime Record, but 80% Gap Leaves Europe Exposed” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.