Oil slides as Trump signals restraint on Iran despite fresh shipping attacks
Published . Updated .
Covered by 3 outlets: Virginia Business, GV Wire, Central Oregon Daily.
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Oil prices dropped after President Donald Trump indicated he is unlikely to order new attacks on Iran despite recent shipping incidents near the Strait of Hormuz.
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” (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.
- OXY Occidental Petroleum+10.3% 18d
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+5.4% 19d
ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- ZIM ZIM Integrated Shipping Services-2.6% 30d
ZIM Integrated Shipping Services (deep sea foreign transportation of freight): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping” (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 | -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 |
| 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 |
| ZIM | +1.38% | +2.00% | base | +2.61% | 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 slides as Trump signals restraint on Iran despite fresh shipping attacks Virginia Business
Source: Virginia Business
How United States Oil Fund (USO) moved after the last 18 energy shocks
Across 18 earlier stories, United States Oil Fund (USO) the next day averaged -6.14%. The largest gain was -3.69% and the largest drop 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 | -4.39% | -1.51% | -4.71% | 10 |
| Select Sector Spdr Tr (XLE) | three days later | -10.35% | -0.87% | -11.87% | 10 |
| 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
- Shafaq News..Iran: Tanker struck mine east of Hormuz
- Higher Strait of Hormuz flows help close the gap in product tanker rates
- Iran Reports Explosions on Two Oil Tankers in Strait of Hormuz
- Global oil supply down nearly 1 bln barrels since Hormuz disruption, warns ADNOC CEO
The price since 9 Nov 2026: United States Oil Fund (USO) versus the S&P 500
| 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 |
| Occidental Petroleum (OXY) | that day | -1.10% | final price |
| Occidental Petroleum (OXY) | three days earlier | +1.63% | final price |
| Occidental Petroleum (OXY) | five days earlier | +7.63% | 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 |
| ZIM Integrated Shipping Services (ZIM) | that day | +2.61% | final price |
| ZIM Integrated Shipping Services (ZIM) | three days earlier | +2.00% | final price |
| ZIM Integrated Shipping Services (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.
- 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).
How busy Strait of Hormuz has been lately
Geopolitics Alpha has 172 stories about Strait of Hormuz from the past 7 days and 649 stories from the past 30. That is about its usual pace over the past month. “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks” is tagged to Strait of Hormuz.
United States Oil Fund (USO) on one side of this energy story
Likely winners
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) tends to benefit, medium confidence in the 9 Nov 2026 story “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks.” 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
Chevron (CVX) tends to benefit, medium confidence in the 9 Nov 2026 story “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks.” Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- OXY Occidental Petroleum
Occidental Petroleum (OXY) tends to benefit, medium confidence in the 9 Nov 2026 story “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks.” Reason on file: Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
No up or down call on file
- USO United States Oil Fund
In “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks,” 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 “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- BWET Amplify Commodity Trust
In “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks,” Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence. Reason on file: Breakwave Tanker Shipping ETF: it tracks shipping freight. Linked by “shipping” (container shipping) in this story
- COP Conocophillips
For “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks,” 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 Strait of Hormuz shock reaches United States Oil Fund (USO)
United States Oil Fund (USO) is the company in “Oil slides as Trump signals restraint on Iran despite fresh shipping attacks,” the 9 Nov 2026 Strait of Hormuz story.
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)
62 out of 100
“Oil slides as Trump signals restraint on Iran despite fresh shipping attacks” scores 62 out of 100. The score uses 3 sources, and 8 linked companies.