Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump
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Brent fell 3.6% to $94 as Qatar’s prime minister took an Iranian Hormuz proposal to the White House, extending last week’s 16% slide in oil prices.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story.
- QAT iShares MSCI Qatar ETF
iShares MSCI Qatar ETF holds stocks listed in Qatar, which this story is about (“qatar”).
- XOM ExxonMobil Holdings
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- CVX Chevron
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- OXY Occidental Petroleum
Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- COP ConocoPhillips
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 |
|---|---|---|---|---|---|---|---|
| USO | +5.62% | -2.06% | base | -3.90% | after close | after close | after close |
| XLE | +9.12% | +3.08% | base | +0.56% | after close | after close | after close |
| BWET | +35.08% | +5.02% | base | -13.59% | after close | after close | after close |
| QAT | -3.28% | -0.51% | base | — | after close | after close | after close |
| XOM | +8.37% | +2.16% | base | -0.67% | after close | after close | after close |
| CVX | +7.15% | +2.05% | base | -1.18% | after close | after close | after close |
| OXY | +7.63% | +1.63% | base | -1.10% | after close | after close | after close |
| COP | +7.74% | +0.44% | base | -1.29% | 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.
Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump Crude Oil Prices Today | OilPrice.com
18 earlier Strait of Hormuz stories for United States Oil Fund (USO)
In the last 18 similar stories, United States Oil Fund (USO) moved an average of -6.14% the next day. The best was -3.69% and the worst was -6.32%, from 15 prices.
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| United States Oil Fund (USO) | the next day | -6.14% | -3.69% | -6.32% | 15 |
| United States Oil Fund (USO) | three days later | -11.52% | -1.37% | -12.25% | 15 |
| Select Sector Spdr Tr (XLE) | the next day | -4.35% | -1.51% | -4.71% | 9 |
| Select Sector Spdr Tr (XLE) | three days later | -10.24% | -0.87% | -11.87% | 9 |
| 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 | -4.96% | -1.64% | -5.21% | 14 |
| ExxonMobil Holdings (XOM) | three days later | -10.85% | -0.44% | -11.72% | 13 |
- Pakistan-bound LNG tanker attacked near Hormuz despite Iran clearance - Bloomberg
- OPEC+ December Output Targets Unchanged Amid Hormuz Closure
- Shipping Strikes In Hormuz Leave Both Sides With Economic Pain
- IRANIAN NAVY REPORTS OIL TANKER FIRE IN STRAIT OF HORMUZ FOLLOWING MINE INCIDENT – STATE MEDIA
- Higher Strait of Hormuz flows help close the gap in product tanker rates
- Iran Reports Explosions on Two Oil Tankers in Strait of Hormuz
United States Oil Fund (USO) compared with energy stocks (XLE) since 9 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | that day | -13.59% | final price |
| Amplify Commodity Trust (BWET) | three days earlier | +5.02% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | +35.08% | final price |
| Conocophillips (COP) | that day | -1.29% | final price |
| Conocophillips (COP) | three days earlier | +0.44% | final price |
| Conocophillips (COP) | five days earlier | +7.74% | final price |
| Chevron (CVX) | that day | -1.18% | final price |
| Chevron (CVX) | three days earlier | +2.05% | final price |
| Chevron (CVX) | five days earlier | +7.15% | final price |
| OXY | that day | -1.10% | final price |
| OXY | three days earlier | +1.63% | final price |
| OXY | five days earlier | +7.63% | final price |
| QAT | three days earlier | -0.51% | final price |
| QAT | five days earlier | -3.28% | final price |
| United States Oil Fund (USO) | that day | -3.90% | 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) | that day | +0.56% | 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) | that day | -0.67% | final price |
| ExxonMobil Holdings (XOM) | three days earlier | +2.16% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +8.37% | 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.
- Donald J Trump, an executive branch official, bought Occidental Petroleum (OXY), worth $100,001 - $250,000 on 21 Aug 2026. That is 80 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 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 172 stories about Strait of Hormuz from the past 7 days and 648 stories from the past 30. That is about its usual pace over the past month. “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump” is tagged to Strait of Hormuz.
United States Oil Fund (USO) on one side of this energy story
Companies mentioned with this story
- USO United States Oil Fund
United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 9 Nov 2026 story “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump.” Reason on file: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
- XLE Select Sector Spdr Tr
In “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- BWET Amplify Commodity Trust
Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence in the 9 Nov 2026 story “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump.” Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story
- XOM ExxonMobil Holdings
In “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump,” 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 Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump,” 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 Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump,” 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
- SHEL Shell
In “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump,” Shell (SHEL) is linked, with no stored direction, medium confidence. Reason on file: Shell (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- FRO Frontline
Frontline (FRO) is linked, with no stored direction, medium confidence in the 9 Nov 2026 story “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump.” 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
What Strait of Hormuz means for United States Oil Fund (USO)
On 9 Nov 2026, “Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump” is the story that connects United States Oil Fund (USO) to Strait of Hormuz.
The link for United States Oil Fund (USO) is this: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
Dates and price levels for United States Oil Fund (USO)
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
“Oil Sinks to $94 as Iran's $8 Billion Hormuz Deal Heads to Trump” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.