Soaring freight rates give US refiners edge as crude discounts widen
Published . Updated .
Covered by 2 outlets: Reuters, Central Oregon Daily.
Who covered it: Center 1 · Not rated 1. How we rate outlets
Key takeaways
- By Vallari Srivastava and Sumit Saha Nov 6 (Reuters) - The Iran conflict has sent tanker rates soaring, forcing sellers to deepen discounts on heavy crude grades and giving US
- Exposed: CRAK, XLE, USO, BWET, VLO
- Market reaction: CRAK −0.7% on the day (still updating); XLE +0.5% on the day (still updating); VLO −1.1% on the day (still updating)
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By Vallari Srivastava and Sumit Saha Nov 6 (Reuters) - The Iran conflict has sent tanker rates soaring, forcing sellers to deepen discounts on heavy crude grades and giving US
Directly affected
- No company is named in this report.
Indirectly affected
- CRAK VanEck Oil Refiners ETF
VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refiner” (refining) in this story.
- XLE Energy Select Sector SPDR+6.9% 30d
Energy Select Sector SPDR: it holds refiners, whose margins move with fuel prices. Linked by “refiner” (refining) in this story.
- USO United States Oil Fund-5.0% 30d
United States Oil Fund: its price follows crude oil. Linked by “crude” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “tanker” (tanker shipping) in this story.
- VLO Valero Energy-4.6% 30d
Valero Energy (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story.
- MPC Marathon Petroleum-0.2% 12d
Marathon Petroleum (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story.
- PSX Phillips 66+2.9% 30d
Phillips 66 (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story.
- XOM ExxonMobil Holdings-2.7% 17d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “crude” (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 |
|---|---|---|---|---|---|---|---|
| CRAK | +9.63% | +6.91% | base | -0.69% | after close | after close | after close |
| XLE | +13.47% | +8.12% | base | +0.49% | after close | after close | after close |
| USO | +13.96% | +6.75% | base | -0.11% | after close | after close | after close |
| BWET | +38.94% | +24.54% | base | after close | after close | after close | after close |
| VLO | +13.92% | +10.34% | base | -1.14% | after close | after close | after close |
| MPC | +17.80% | +13.33% | base | -0.91% | after close | after close | after close |
| PSX | +14.52% | +10.23% | base | -0.02% | after close | after close | after close |
| XOM | +13.27% | +7.37% | base | +0.36% | 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.
Soaring freight rates give US refiners edge as crude discounts widen Reuters
Source: Reuters
Vaneck Etf Trust (CRAK) compared with energy stocks (XLE) since 6 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | three days earlier | +24.54% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | +38.94% | final price |
| Vaneck Etf Trust (CRAK) | that day | -0.69% | still updating |
| Vaneck Etf Trust (CRAK) | three days earlier | +6.91% | final price |
| Vaneck Etf Trust (CRAK) | five days earlier | +9.63% | final price |
| Marathon Petroleum (MPC) | that day | -0.91% | still updating |
| Marathon Petroleum (MPC) | three days earlier | +13.33% | final price |
| Marathon Petroleum (MPC) | five days earlier | +17.80% | final price |
| Phillips 66 (PSX) | that day | -0.02% | still updating |
| Phillips 66 (PSX) | three days earlier | +10.23% | final price |
| Phillips 66 (PSX) | five days earlier | +14.52% | final price |
| United States Oil Fund (USO) | that day | -0.11% | still updating |
| United States Oil Fund (USO) | three days earlier | +6.75% | final price |
| United States Oil Fund (USO) | five days earlier | +13.96% | final price |
| Valero Energy (VLO) | that day | -1.14% | still updating |
| Valero Energy (VLO) | three days earlier | +10.34% | final price |
| Valero Energy (VLO) | five days earlier | +13.92% | final price |
| Select Sector Spdr Tr (XLE) | that day | +0.49% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | +8.12% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +13.47% | final price |
| ExxonMobil Holdings (XOM) | that day | +0.36% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | +7.37% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +13.27% | final price |
Congressional trades in the stocks in this story
- Rep. David J. Taylor sold Marathon Petroleum (MPC), worth $1,001 - $15,000 on 15 Oct 2026. That is 22 days before publication. Filed 29 Oct 2026. View the filing.
- Rep. David J. Taylor sold Marathon Petroleum (MPC), worth $1,001 - $15,000 on 22 Sep 2026. That is 45 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 23 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 67 days before publication. Filed 25 Sep 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 mentioned with this story
- CRAK Vaneck Etf Trust
For “Soaring freight rates give US refiners edge as crude discounts widen,” 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 “refiner” (refining) in this story
- XLE Select Sector Spdr Tr
In “Soaring freight rates give US refiners edge as crude discounts widen,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: it holds refiners, whose margins move with fuel prices. Linked by “refiner” (refining) in this story
- USO United States Oil Fund
United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 6 Nov 2026 story “Soaring freight rates give US refiners edge as crude discounts widen.” Reason on file: United States Oil Fund: its price follows crude oil. Linked by “crude” (oil) in this story
- BWET Amplify Commodity Trust
Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence in the 6 Nov 2026 story “Soaring freight rates give US refiners edge as crude discounts widen.” Reason on file: Breakwave Tanker Shipping ETF: it tracks shipping freight. Linked by “freight” (container shipping) in this story
- VLO Valero Energy
Valero Energy (VLO) is linked, with no stored direction, medium confidence in the 6 Nov 2026 story “Soaring freight rates give US refiners edge as crude discounts widen.” Reason on file: Valero Energy (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story
- MPC Marathon Petroleum
Marathon Petroleum (MPC) is linked, with no stored direction, medium confidence in the 6 Nov 2026 story “Soaring freight rates give US refiners edge as crude discounts widen.” Reason on file: Marathon Petroleum (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story
- PSX Phillips 66
Phillips 66 (PSX) is linked, with no stored direction, medium confidence in the 6 Nov 2026 story “Soaring freight rates give US refiners edge as crude discounts widen.” Reason on file: Phillips 66 (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story
- XOM ExxonMobil Holdings
For “Soaring freight rates give US refiners edge as crude discounts widen,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story
Vaneck Etf Trust (CRAK) and the energy link
The 6 Nov 2026 story “Soaring freight rates give US refiners edge as crude discounts widen” names Vaneck Etf Trust (CRAK) because of Energy.
The link for Vaneck Etf Trust (CRAK) is this: VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refiner” (refining) in this story
Select Sector Spdr Tr (XLE) is here too. Its reason reads: Energy Select Sector SPDR: it holds refiners, whose margins move with fuel prices. Linked by “refiner” (refining) in this story
Price levels for Vaneck Etf Trust (CRAK)
USO traded between 143.02 and 171.80 across 20 sessions. The latest close on file is 145.42. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.
The energy score for Vaneck Etf Trust (CRAK)
54 out of 100Price not final
“Soaring freight rates give US refiners edge as crude discounts widen” scores 54 out of 100. The score uses 2 sources, and 8 linked companies. The price is not final yet.