Geopolitics Alpha

Sanctions-evading China-bound billions turn untraceable in Moscow

Published . Updated .

Key takeaways

  • Exposed: USO, XLE, UNG, KWEB, FXI
  • Market reaction: XLE −0.4% on the day (still updating); USO −0.0% on the day (still updating); COP −1.3% on the day (still updating)

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GEOPOLITICS ALPHASanctions-evading China-boundbillions turn untraceable inMoscowGEOPOLITICS ALPHA

This report is about oil and natural gas.

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 “moscow” (oil) in this story.

  • XLE Energy Select Sector SPDR+8.9% 30d

    Energy Select Sector SPDR: its price follows crude oil. Linked by “moscow” (oil) in this story.

  • UNG United States Natural Gas Fund-17.0% 30d

    United States Natural Gas Fund: it follows natural-gas prices. Linked by “moscow” (natural gas) in this story.

  • KWEB KraneShares CSI China Internet ETF-4.6% 30d

    KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “china” (Chinese tech) in this story.

  • FXI iShares China Large-Cap ETF-5.1% 30d

    iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“china”).

  • XOM ExxonMobil Holdings+6.2% 16d

    ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “moscow” (oil) in this story.

  • CVX Chevron+12.5% 30d

    Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “moscow” (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 “moscow” (oil) in this story.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
USO+4.37%+7.30%base-0.01%after closeafter closeafter close
XLE+1.44%+2.16%base-0.36%after closeafter closeafter close
UNG+6.94%+1.94%base+0.44%after closeafter closeafter close
KWEB-0.98%-2.38%base-0.41%after closeafter closeafter close
FXI-2.20%-1.54%base+0.24%after closeafter closeafter close
XOM+0.06%+1.89%base-1.00%after closeafter closeafter close
CVX+0.19%+1.58%base-0.75%after closeafter closeafter close
OXY+3.32%+3.76%base-0.35%after closeafter closeafter 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.

Sanctions-evading China-bound billions turn untraceable in Moscow Asia Times

Source: Asia Times

How far United States Oil Fund (USO) has moved since 3 Nov 2026

CompanyWhenMoveStatus
Chevron (CVX)that day-0.75%still updating
Chevron (CVX)three days earlier+1.58%final price
Chevron (CVX)five days earlier+0.19%final price
Ishares China Large-Cap Etf (FXI)that day+0.24%still updating
Ishares China Large-Cap Etf (FXI)three days earlier-1.54%final price
Ishares China Large-Cap Etf (FXI)five days earlier-2.20%final price
Kraneshares Csi China Internet Etf (KWEB)that day-0.41%still updating
Kraneshares Csi China Internet Etf (KWEB)three days earlier-2.38%final price
Kraneshares Csi China Internet Etf (KWEB)five days earlier-0.98%final price
OXYthat day-0.35%still updating
OXYthree days earlier+3.76%final price
OXYfive days earlier+3.32%final price
United States Natural Gas Fund (UNG)that day+0.44%still updating
United States Natural Gas Fund (UNG)three days earlier+1.94%final price
United States Natural Gas Fund (UNG)five days earlier+6.94%final price
United States Oil Fund (USO)that day-0.01%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-0.36%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-1.00%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

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 gains and who loses around United States Oil Fund (USO)

Companies tied to this story

  • USO United States Oil Fund

    In “Sanctions-evading China-bound billions turn untraceable in Moscow,” 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 “moscow” (oil) in this story

  • XLE Select Sector Spdr Tr

    For “Sanctions-evading China-bound billions turn untraceable in Moscow,” 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 “moscow” (oil) in this story

  • UNG United States Natural Gas Fund

    In “Sanctions-evading China-bound billions turn untraceable in Moscow,” United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence. Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “moscow” (natural gas) in this story

  • KWEB Kraneshares Csi China Internet Etf

    For “Sanctions-evading China-bound billions turn untraceable in Moscow,” Kraneshares Csi China Internet Etf (KWEB) is linked, with no stored direction, medium confidence. Reason on file: KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “china” (Chinese tech) in this story

  • FXI Ishares China Large-Cap Etf

    In “Sanctions-evading China-bound billions turn untraceable in Moscow,” Ishares China Large-Cap Etf (FXI) is linked, with no stored direction, medium confidence. Reason on file: iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“china”)

  • XOM ExxonMobil Holdings

    In “Sanctions-evading China-bound billions turn untraceable in Moscow,” 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 “moscow” (oil) in this story

  • CVX Chevron

    In “Sanctions-evading China-bound billions turn untraceable in Moscow,” 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 “moscow” (oil) in this story

  • COP Conocophillips

    Conocophillips (COP) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “Sanctions-evading China-bound billions turn untraceable in Moscow.” Reason on file: ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “moscow” (oil) in this story

United States Oil Fund (USO)

“Sanctions-evading China-bound billions turn untraceable in Moscow” (3 Nov 2026) reaches United States Oil Fund (USO) through this story.

What ties United States Oil Fund (USO) to the headline is this: United States Oil Fund: its price follows crude oil. Linked by “moscow” (oil) in this story

Also listed, Select Sector Spdr Tr (XLE): Energy Select Sector SPDR: its price follows crude oil. Linked by “moscow” (oil) in this story

The price range for United States Oil Fund (USO), and the dates in the story

UNG traded between 8.95 and 11.43 across 20 sessions. The latest close on file is 9.01. 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.

How strong the case is around United States Oil Fund (USO)

46 out of 100Price not final

“Sanctions-evading China-bound billions turn untraceable in Moscow” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.