Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover
Published . Updated .
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This report is about oil and tanker shipping. Names like XOM and CVX typically gain because exxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund+8.9% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+8.9% 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 tanker freight rates. Linked by “oil” (tanker shipping) in this story.
- XOM ExxonMobil Holdings+6.2% 16d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- CVX Chevron+12.5% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- SHEL Shell-2.5% 12d
Shell (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- OXY Occidental Petroleum-1.2% 19d
Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- FRO Frontline+8.7% 30d
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.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | +4.37% | +7.30% | base | +0.18% | after close | after close | after close |
| XLE | +1.44% | +2.16% | base | -0.17% | after close | after close | after close |
| BWET | -1.54% | +2.86% | base | -7.81% | after close | after close | after close |
| XOM | +0.06% | +1.89% | base | -0.93% | after close | after close | after close |
| CVX | +0.19% | +1.58% | base | -0.68% | after close | after close | after close |
| SHEL | -0.17% | +2.59% | base | -0.59% | after close | after close | after close |
| OXY | +3.32% | +3.76% | base | -0.13% | after close | after close | after close |
| FRO | +3.34% | +8.65% | base | +0.63% | 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.
Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover Bloomberg.com
Source: Bloomberg
Earlier energy stories for United States Oil Fund (USO): 16 cases
In the last 16 similar stories, United States Oil Fund (USO) moved an average of +0.86% the next day. The best was +2.80% and the worst was -6.80%, from 10 prices.
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| United States Oil Fund (USO) | the next day | +0.86% | +2.80% | -6.80% | 10 |
| United States Oil Fund (USO) | three days later | -2.02% | +3.84% | -4.19% | 9 |
| Select Sector Spdr Tr (XLE) | the next day | -0.18% | +0.71% | -2.12% | 10 |
| Select Sector Spdr Tr (XLE) | three days later | -0.57% | +2.31% | -1.42% | 9 |
| Amplify Commodity Trust (BWET) | the next day | +2.29% | +4.46% | -2.78% | 7 |
| Amplify Commodity Trust (BWET) | three days later | +2.57% | +4.59% | +1.56% | 6 |
| ExxonMobil Holdings (XOM) | the next day | +0.41% | +1.40% | -1.85% | 10 |
| ExxonMobil Holdings (XOM) | three days later | +0.67% | +3.42% | -0.06% | 9 |
- Oil prices fall as Saudi-Iran talks raise peace hopes
- Why Oil Prices Are High Despite Persian Gulf Supply Recovery
- Oil prices rise as U.S. warns Persian Gulf countries to prepare for Iran strikes after midterms
- Sanctioned Oil Tankers Find a Lucrative New Trade in the Persian Gulf
- Saudi companies expect higher costs from revised utility tariffs
- QatarEnergy extends cancellations of LNG supply to Italy
The price since 3 Nov 2026: United States Oil Fund (USO) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | that day | -7.81% | still updating |
| Amplify Commodity Trust (BWET) | three days earlier | +2.86% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | -1.54% | final price |
| Chevron (CVX) | that day | -0.68% | still updating |
| Chevron (CVX) | three days earlier | +1.58% | final price |
| Chevron (CVX) | five days earlier | +0.19% | final price |
| Frontline (FRO) | that day | +0.63% | still updating |
| Frontline (FRO) | three days earlier | +8.65% | final price |
| Frontline (FRO) | five days earlier | +3.34% | final price |
| Occidental Petroleum (OXY) | that day | -0.13% | still updating |
| Occidental Petroleum (OXY) | three days earlier | +3.76% | final price |
| Occidental Petroleum (OXY) | five days earlier | +3.32% | final price |
| Shell (SHEL) | that day | -0.59% | still updating |
| Shell (SHEL) | three days earlier | +2.59% | final price |
| Shell (SHEL) | five days earlier | -0.17% | final price |
| United States Oil Fund (USO) | that day | +0.18% | still updating |
| United States Oil Fund (USO) | three days earlier | +7.30% | final price |
| United States Oil Fund (USO) | five days earlier | +4.37% | final price |
| Select Sector Spdr Tr (XLE) | that day | -0.17% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | +2.16% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +1.44% | final price |
| ExxonMobil Holdings (XOM) | that day | -0.93% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | +1.89% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +0.06% | 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 20 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 64 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 20 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 41 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 62 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 74 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).
Where this story sits: Persian Gulf
Geopolitics Alpha has 17 stories about Persian Gulf from the past 7 days and 51 stories from the past 30. That is faster than its usual pace over the past month. “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover” is tagged to Persian Gulf.
Who collects and who pays in energy
The side that tends to collect
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) tends to benefit, medium confidence in the 3 Nov 2026 story “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover.” 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 3 Nov 2026 story “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover.” 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
In “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover,” Occidental Petroleum (OXY) tends to benefit, medium confidence. 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 “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover,” 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
For “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover,” 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 3 Nov 2026 story “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover.” Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story
- SHEL Shell
Shell (SHEL) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover.” 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
From Persian Gulf to United States Oil Fund (USO)
On 3 Nov 2026, “Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover” is the story that connects United States Oil Fund (USO) to Persian Gulf.
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
Select Sector Spdr Tr (XLE) is here too. Its reason reads: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
What this energy story puts on the calendar
BWET traded between 788.51 and 1047.07 across 17 sessions. The latest close on file is 907.20. USO traded between 141.82 and 171.80 across 20 sessions. The latest close on file is 156.89. XLE traded between 62.95 and 70.15 across 20 sessions. The latest close on file is 67.26.
What the saved facts support for United States Oil Fund (USO)
46 out of 100Price not final
“Physical Oil Prices Tumble as Persian Gulf Crude Flows Recover” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.