Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude
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At the same time, Santa Barbara’s Environmental Defense Center has filed another lawsuit against Sable and the U.S. Transportation Department in the federal Court of Appeals.
Directly affected
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.
- 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
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “defense” (defense) in this story.
- XOM ExxonMobil Holdings
ExxonMobil Holdings (petroleum refining): 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.
- SHEL Shell
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
Occidental Petroleum (crude petroleum and natural gas): 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 |
|---|---|---|---|---|---|---|---|
| SOC | +159.96% | +154.68% | base | +13.24% | after close | after close | after close |
| CVX | +2.73% | +0.67% | base | +0.48% | after close | after close | after close |
| USO | +2.78% | +4.95% | base | +1.23% | after close | after close | after close |
| XLE | +2.11% | -0.95% | base | +1.29% | after close | after close | after close |
| CRAK | +4.45% | -1.14% | base | +1.83% | after close | after close | after close |
| ITANo price data for this ticker | — | — | — | — | — | — | — |
| XOM | +3.07% | +0.89% | base | +1.10% | after close | after close | after close |
| COP | +0.96% | +0.52% | base | +1.33% | after close | after close | after close |
| SHEL | +4.68% | +1.86% | base | +0.48% | after close | after close | after close |
| OXY | +0.77% | -0.84% | base | +0.76% | 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.
Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude The Santa Barbara Independent
Source: The Santa Barbara Independent
The price since 11 Nov 2026: United States Oil Fund (USO) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Conocophillips (COP) | that day | +1.33% | still updating |
| Conocophillips (COP) | three days earlier | +0.52% | final price |
| Conocophillips (COP) | five days earlier | +0.96% | final price |
| Vaneck Etf Trust (CRAK) | that day | +1.83% | still updating |
| Vaneck Etf Trust (CRAK) | three days earlier | -1.14% | final price |
| Vaneck Etf Trust (CRAK) | five days earlier | +4.45% | final price |
| Chevron (CVX) | that day | +0.48% | still updating |
| Chevron (CVX) | three days earlier | +0.67% | final price |
| Chevron (CVX) | five days earlier | +2.73% | final price |
| OXY | that day | +0.76% | still updating |
| OXY | three days earlier | -0.84% | final price |
| OXY | five days earlier | +0.77% | final price |
| Shell (SHEL) | that day | +0.48% | still updating |
| Shell (SHEL) | three days earlier | +1.86% | final price |
| Shell (SHEL) | five days earlier | +4.68% | final price |
| SOC | that day | +13.24% | still updating |
| SOC | three days earlier | +154.68% | final price |
| SOC | five days earlier | +159.96% | final price |
| United States Oil Fund (USO) | that day | +1.23% | still updating |
| United States Oil Fund (USO) | three days earlier | +4.95% | final price |
| United States Oil Fund (USO) | five days earlier | +2.78% | final price |
| Select Sector Spdr Tr (XLE) | that day | +1.29% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | -0.95% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +2.11% | final price |
| ExxonMobil Holdings (XOM) | that day | +1.10% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | +0.89% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +3.07% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 28 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 49 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 70 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 28 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 72 days before publication. Filed 25 Sep 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 77 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 79 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 82 days before publication. Filed 8 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 82 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).
Who collects and who pays in energy
Companies carried with this story
- USO United States Oil Fund
United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude.” 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 11 Nov 2026 story “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- CRAK Vaneck Etf Trust
In “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude,” 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
- CVX Chevron
For “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude,” 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
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude.” Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
- COP Conocophillips
In “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude,” 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
For “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude,” 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
- CVI Cvr Energy
Cvr Energy (CVI) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude.” Reason on file: CVR Energy (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refinery” (refining) in this story
United States Oil Fund (USO) and the energy link
On 11 Nov 2026, “Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude” is the story that connects United States Oil Fund (USO) to Energy.
For United States Oil Fund (USO), the reason on file says 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
The price range for United States Oil Fund (USO), and the dates in the story
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.
What the saved facts support for United States Oil Fund (USO)
46 out of 100Price not final
“Red Flag for Sable Offshore as Chevron Refinery That Processes Its Oil Stops Buying Its Crude” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.