Geopolitics Alpha

UN experts say grounds to believe US committed war crimes in Iran strikes

Published . Updated .

The US has not acknowledged carrying out February's deadly strikes on a primary school in Minab and a sports complex in Lamerd.

Directly affected

  • No company is named in this report.

Indirectly affected

  • FRO Frontline

    Tanker operators earn more when freight rates spike

  • INSW International Seaways

    Tanker operators earn more when freight rates spike

  • DHT DHT Holdings

    Tanker operators earn more when freight rates spike

  • TNK Teekay Tankers

    Tanker operators earn more when freight rates spike

  • USO United States Oil Fund

    Oil prices move when Iranian supply is at risk

  • XLE Energy Select Sector SPDR

    Energy companies move with Iran supply risk

  • LMT Lockheed Martin

    Defense contractors get more work when conflict spending rises

  • RTX RTX

    Defense contractors get more work when conflict spending rises

  • XOM Exxon Mobil

    Oil producers earn more when crude prices rise

  • DAL Delta Air Lines

    Airlines pay more for fuel when oil prices jump

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
FRO———————
INSW———————
DHT———————
TNK———————
USO———————
XLE———————
LMT———————
RTX———————
XOM———————
DAL———————

The US has not acknowledged carrying out February's deadly strikes on a primary school in Minab and a sports complex in Lamerd.

Source: BBC Middle East

Spdr Series Trust (XAR) since this story, compared with the market

Since the first closing price after “UN experts say grounds to believe US committed war crimes in Iran strikes,” Spdr Series Trust (XAR) is -8.36%. The S&P 500 fund (SPY) is -0.89% over the same days, a -7.46% difference versus the market. industrial stocks (XLI) is -1.91%, a -6.45% difference versus that group of stocks.

XAR
SPY
XLI

Who gains and who loses around Spdr Series Trust (XAR)

Companies tied to this story

  • XAR Spdr Series Trust

    In “UN experts say grounds to believe US committed war crimes in Iran strikes,” Spdr Series Trust (XAR) is linked, with no stored direction, medium confidence. Reason on file: Material security escalation can alter defense demand expectations and risk premia

  • ITA IShares U.S. Aerospace & Defense ETF

    IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence in the 20 Sep 2026 story “UN experts say grounds to believe US committed war crimes in Iran strikes.” Reason on file: Material security escalation can alter defense demand expectations and risk premia

  • PPA Invesco Aerospace & Defense Etf

    In “UN experts say grounds to believe US committed war crimes in Iran strikes,” Invesco Aerospace & Defense Etf (PPA) is linked, with no stored direction, medium confidence. Reason on file: GA selected PPA as a RELATED security because its canonical security name directly matches this event's themes: defense. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

  • WAR U.S. Global Technology And Aerospace & Defense Etf

    In “UN experts say grounds to believe US committed war crimes in Iran strikes,” U.S. Global Technology And Aerospace & Defense Etf (WAR) is linked, with no stored direction, medium confidence. Reason on file: GA selected WAR as a RELATED security because its canonical security name directly matches this event's themes: defense. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

  • GLD Spdr Gold Trust

    In “UN experts say grounds to believe US committed war crimes in Iran strikes,” Spdr Gold Trust (GLD) is linked, with no stored direction, medium confidence. Reason on file: Material security escalation can affect safe-haven and macro-risk proxies; this is a monitoring relationship, not a directional prediction

  • TLT Ishares Tr

    Ishares Tr (TLT) is linked, with no stored direction, medium confidence in the 20 Sep 2026 story “UN experts say grounds to believe US committed war crimes in Iran strikes.” Reason on file: Material security escalation can affect safe-haven and macro-risk proxies; this is a monitoring relationship, not a directional prediction

  • UUP Invesco DB US Dollar Index Bullish Fund

    Invesco DB US Dollar Index Bullish Fund (UUP) is linked, with no stored direction, medium confidence in the 20 Sep 2026 story “UN experts say grounds to believe US committed war crimes in Iran strikes.” Reason on file: Material security escalation can affect safe-haven and macro-risk proxies; this is a monitoring relationship, not a directional prediction

Spdr Series Trust (XAR) and the defense link

Spdr Series Trust (XAR) is the company in “UN experts say grounds to believe US committed war crimes in Iran strikes,” the 20 Sep 2026 Defense story.

The link for Spdr Series Trust (XAR) is this: Material security escalation can alter defense demand expectations and risk premia

Also listed, IShares U.S. Aerospace & Defense ETF (ITA): Material security escalation can alter defense demand expectations and risk premia

What this defense story puts on the calendar

ITA traded between 201.08 and 217.79 across 20 sessions. The latest close on file is 207.60. PPA traded between 151.56 and 162.12 across 20 sessions. The latest close on file is 156.07. XAR traded between 216.28 and 245.40 across 20 sessions. The latest close on file is 223.20.

The defense score for Spdr Series Trust (XAR)

46 out of 100

“UN experts say grounds to believe US committed war crimes in Iran strikes” scores 46 out of 100. The score uses 1 sources, and 7 linked companies.