Reported June 8 2023, 'Saudi Crown Prince Threatened 'Major' Economic Pain On U.S. Amid Oil Feud' - Washington Post
Portfolio Pulse from Happy Mohamed
Saudi Crown Prince Mohammed bin Salman privately threatened to sever ties and retaliate economically against the US after President Biden vowed to impose consequences on Saudi Arabia for slashing oil production last year. The US has not imposed consequences on Saudi Arabia, and the two countries continue to engage in high-level meetings.
June 09, 2023 | 2:17 pm
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NEGATIVE IMPACT
Saudi Crown Prince's threat of economic retaliation against the US could create uncertainty in the market, potentially impacting the SPY ETF.
The threat of economic retaliation from Saudi Arabia could create uncertainty in the market, leading to potential fluctuations in the SPY ETF. As the situation remains unresolved, investors may be cautious about the potential impact on the US economy and the broader market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The ongoing tension between the US and Saudi Arabia over oil production could impact the USO ETF, as it tracks the performance of West Texas Intermediate crude oil.
The tension between the US and Saudi Arabia over oil production could lead to fluctuations in oil prices, which would directly impact the USO ETF. As the situation remains unresolved, investors may be cautious about the potential impact on oil prices and the performance of the USO ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80