UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels
Published . Updated .
This report is about oil and tanker shipping.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund+4.8% 30d
United States Oil Fund: its price follows crude oil. Linked by “brent” (oil) in this story.
- XLE Energy Select Sector SPDR+6.5% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “brent” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF+38.2% 18d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “brent” (tanker shipping) in this story.
- FRO Frontline+0.2% 30d
Frontline (deep sea foreign transportation of freight): tanker owners earn more when more crude has to move by sea. Linked by “brent” (tanker shipping) in this story.
- DHT DHT Holdings
DHT Holdings (deep sea foreign transportation of freight): tanker owners earn more when more crude has to move by sea. Linked by “brent” (tanker shipping) in this story.
- XOM ExxonMobil Holdings+9.0% 13d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “brent” (oil) in this story.
- INSW International Seaways+1.3% 8d
International Seaways (water transportation): tanker owners earn more when more crude has to move by sea. Linked by “brent” (tanker shipping) in this story.
- CVX Chevron+7.9% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “brent” (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 |
|---|---|---|---|---|---|---|---|
| USO | -2.37% | +3.62% | base | +1.87% | after close | after close | after close |
| XLE | -0.12% | +1.60% | base | +0.34% | after close | after close | after close |
| BWETNo price data for this ticker | — | — | — | — | — | — | — |
| FRONo price data for this ticker | — | — | — | — | — | — | — |
| DHTNo price data for this ticker | — | — | — | — | — | — | — |
| XOM | -1.00% | +1.85% | base | +1.22% | after close | after close | after close |
| INSWNo price data for this ticker | — | — | — | — | — | — | — |
| CVX | -0.66% | +2.17% | base | +0.45% | 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.
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UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels Crude Oil Prices Today | OilPrice.com
United States Oil Fund (USO) since this story, compared with the market
| Company | When | Move | Status |
|---|---|---|---|
| Chevron (CVX) | that day | +0.45% | final price |
| Chevron (CVX) | three days earlier | +2.17% | final price |
| Chevron (CVX) | five days earlier | -0.66% | final price |
| United States Oil Fund (USO) | that day | +1.87% | final price |
| United States Oil Fund (USO) | three days earlier | +3.62% | final price |
| United States Oil Fund (USO) | five days earlier | -2.37% | final price |
| Select Sector Spdr Tr (XLE) | that day | +0.34% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | +1.60% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -0.12% | final price |
| ExxonMobil Holdings (XOM) | that day | +1.22% | final price |
| ExxonMobil Holdings (XOM) | three days earlier | +1.85% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | -1.00% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 58 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 89 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 35 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 56 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Chevron (CVX), worth $15,001 - $50,000 on 26 Aug 2026. That is 63 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 63 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 65 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 68 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).
Companies in energy around United States Oil Fund (USO)
Companies tied to this story
- USO United States Oil Fund
In “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels,” 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 “brent” (oil) in this story
- XLE Select Sector Spdr Tr
For “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels,” 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 “brent” (oil) in this story
- BWET Amplify Commodity Trust
In “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels,” Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence. Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “brent” (tanker shipping) in this story
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence in the 28 Oct 2026 story “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels.” Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “brent” (oil) in this story
- CVX Chevron
Chevron (CVX) is linked, with no stored direction, medium confidence in the 28 Oct 2026 story “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels.” Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “brent” (oil) in this story
- COP Conocophillips
In “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels,” 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 “brent” (oil) in this story
- SHEL Shell
For “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels,” 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 “brent” (oil) in this story
- FRO Frontline
For “UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels,” Frontline (FRO) is linked, with no stored direction, medium confidence. Reason on file: Frontline (deep sea foreign transportation of freight): tanker owners earn more when more crude has to move by sea. Linked by “brent” (tanker shipping) in this story
How energy news reaches United States Oil Fund (USO)
“UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels” (28 Oct 2026) reaches United States Oil Fund (USO) through Energy.
United States Oil Fund (USO) is on the page because United States Oil Fund: its price follows crude oil. Linked by “brent” (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 “brent” (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 16 sessions. The latest close on file is 894.54. USO traded between 141.82 and 169.96 across 20 sessions. The latest close on file is 163.62. XLE traded between 61.05 and 69.86 across 20 sessions. The latest close on file is 68.23.
How solid the energy case looks
54 out of 100
“UBS Sees $110 Brent by Year-End as Gulf Flows Stay Below Prewar Levels” scores 54 out of 100. The score uses 2 sources, and 8 linked companies.