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Get filing alertsUSL: revenue $17.0M, net income $16.9M. USL surges 4801.2% as shutting in 7.5M barrels/day
Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~1 min read
Key Changes
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Iran War and Strait of Hormuz closure drove crude oil prices up 38% in Q1 2026 (vs. 2% decline prior year), with 7.5 million barrels/day shut in across six Middle Eastern countries. Supply shock pushed USL's NAV from $33.31 to $47.79, a 43% gain.
MD&A: Market Conditions verify on EDGAR → -
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Dismissal is procedural win but litigation continues.
Legal Proceedings verify on EDGAR → -
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OPEC production collapsed 7.5 million barrels/day from February to March 2026 (29.6 to 22.1 mbd) due to war-related shutdowns, reversing gradual increases that had been unwinding voluntary cuts since 2024.
MD&A: OPEC Production verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify