Here's What's Happening To Oil As Debt Ceiling Crisis Drags On
Portfolio Pulse from Bhavik Nair
Oil is on track for its first weekly gains in over a month as optimism grows that Congress will resolve the debt limit impasse. West Texas Intermediate and Brent futures are trading higher, while the United States Brent Oil Fund (BNO) and Vanguard Energy Index Fund ETF (VDE) experienced mixed results.
May 19, 2023 | 7:38 am
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NEUTRAL IMPACT
The United States Brent Oil Fund (BNO) closed 1.12% lower on Thursday, potentially impacted by optimism over the debt ceiling resolution.
The United States Brent Oil Fund (BNO) closed lower on Thursday, which could be due to the optimism surrounding the debt ceiling resolution. However, the overall impact on BNO's stock price is uncertain as the debt ceiling crisis is still ongoing and other factors may influence its performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
The Vanguard Energy Index Fund ETF (VDE) gained 0.78% on Thursday, potentially benefiting from the optimism over the debt ceiling resolution.
The Vanguard Energy Index Fund ETF (VDE) gained on Thursday, which could be due to the optimism surrounding the debt ceiling resolution. However, the overall impact on VDE's stock price is uncertain as the debt ceiling crisis is still ongoing and other factors may influence its performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80