Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery
Published . Updated .
December Brent crude futures rose 1.2% to $115.19 a barrel as Saudi authorities have yet to confirm the claimed missile strike
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund+4.8% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+6.5% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- CRAK VanEck Oil Refiners ETF
VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story.
- ITA iShares U.S. Aerospace & Defense ETF-4.2% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “missile” (defense) in this story.
- KSA iShares MSCI Saudi Arabia ETF-7.0% 30d
iShares MSCI Saudi Arabia ETF holds stocks listed in Saudi Arabia, which this story is about (“saudi”).
- XOM ExxonMobil Holdings+9.0% 13d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- CVX Chevron+7.9% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- COP ConocoPhillips+8.3% 30d
ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USONo price data for this ticker | — | — | — | — | — | — | — |
| XLENo price data for this ticker | — | — | — | — | — | — | — |
| CRAKNo price data for this ticker | — | — | — | — | — | — | — |
| ITANo price data for this ticker | — | — | — | — | — | — | — |
| KSANo price data for this ticker | — | — | — | — | — | — | — |
| XOM | -1.00% | +1.85% | base | +0.89% | after close | after close | after close |
| CVX | -0.66% | +2.17% | base | +0.66% | after close | after close | after close |
| COPNo 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.
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Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery Quartz
Source: Quartz
How United States Oil Fund (USO) moved across the last 19 energy stories
United States Oil Fund (USO) the next day, across 19 earlier stories: average -0.67%, largest gain -0.66%, largest drop -0.68%, from 5 prices.
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| United States Oil Fund (USO) | the next day | -0.67% | -0.66% | -0.68% | 5 |
| United States Oil Fund (USO) | three days later | +3.41% | +5.37% | +0.46% | 5 |
| Select Sector Spdr Tr (XLE) | the next day | +0.07% | +0.52% | -0.55% | 17 |
| Select Sector Spdr Tr (XLE) | three days later | +0.92% | +2.31% | -0.96% | 17 |
- Qatar LNG Cargo Makes Rare Red Sea Journey to Get Gas to Europe
- The Week in Charts: North Korean ghost voyages expose gaps in sanctions monitoring | Chinese operators lead surge in Red Sea and Suez vehicle carrier transits
- Brent Crude Hits Five-Month High as Houthi Attack Claims Raise Oil Supply Concerns
- Oil holds near five-month high as Hormuz, Houthi attacks threaten supply recovery
- Natural Gas and Oil Forecast: Houthis Target Saudi Oil, Can WTI Break $99.72?
- Oil near $110 after Houthi attack claims and Iranian threats
How far United States Oil Fund (USO) has moved since 28 Oct 2026
| Company | When | Move | Status |
|---|---|---|---|
| Chevron (CVX) | that day | +0.66% | still updating |
| Chevron (CVX) | three days earlier | +2.17% | final price |
| Chevron (CVX) | five days earlier | -0.66% | final price |
| ExxonMobil Holdings (XOM) | that day | +0.89% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | +1.85% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | -1.00% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 58 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 89 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 35 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 56 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Chevron (CVX), worth $15,001 - $50,000 on 26 Aug 2026. That is 63 days before publication. Filed 8 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 63 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 65 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 68 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).
Red Sea on the map for this story
Geopolitics Alpha has 96 stories about Red Sea from the past 7 days and 197 stories from the past 30. That is faster than its usual pace over the past month. “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery” is tagged to Red Sea.
Who gains and who loses around United States Oil Fund (USO)
Companies carried with this story
- USO United States Oil Fund
In “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery,” 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 28 Oct 2026 story “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- CRAK Vaneck Etf Trust
In “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery,” Vaneck Etf Trust (CRAK) is linked, with no stored direction, medium confidence. Reason on file: VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story
- BWET Amplify Commodity Trust
Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence in the 28 Oct 2026 story “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery.” Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “houthi” (tanker shipping) in this story
- KSA Ishares Msci Saudi Arabia Etf
Ishares Msci Saudi Arabia Etf (KSA) is linked, with no stored direction, medium confidence in the 28 Oct 2026 story “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery.” Reason on file: iShares MSCI Saudi Arabia ETF holds stocks listed in Saudi Arabia, which this story is about (“saudi”)
- XOM ExxonMobil Holdings
In “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- CVX Chevron
For “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery,” Chevron (CVX) is linked, with no stored direction, medium confidence. Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- COP Conocophillips
In “Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery,” Conocophillips (COP) is linked, with no stored direction, medium confidence. Reason on file: ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
How a Red Sea shock reaches United States Oil Fund (USO)
“Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery” (28 Oct 2026) reaches United States Oil Fund (USO) through Red Sea.
What ties United States Oil Fund (USO) to the headline is this: 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
The price range for United States Oil Fund (USO), and the dates in the story
USO traded between 141.82 and 169.96 across 20 sessions. The latest close on file is 163.62. XLE traded between 61.05 and 69.86 across 20 sessions. The latest close on file is 68.23.
The energy score for United States Oil Fund (USO)
46 out of 100Price not final
“Oil prices climb after Houthis claim strike on Saudi Arabia's biggest refinery” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.