Senior U.S. Treasury Official Says There Is No Immediate Proposal To Change $60 A Barrel Price Cap On Russian Oil Now
Portfolio Pulse from Benzinga Newsdesk
A senior U.S. Treasury official stated that there is no immediate proposal to change the $60 per barrel price cap on Russian oil.
June 15, 2023 | 6:44 pm
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POSITIVE IMPACT
No immediate change in Russian oil price cap may maintain stability in the energy sector, potentially benefiting the S&P 500 ETF (SPY).
The S&P 500 ETF (SPY) includes energy sector stocks, which may benefit from the stability in the oil market due to the unchanged price cap on Russian oil. This may lead to a positive short-term impact on SPY.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The unchanged $60 per barrel price cap on Russian oil may have a neutral impact on the Vanguard FTSE Europe ETF (VGK) in the short term.
The Vanguard FTSE Europe ETF (VGK) includes European stocks, which may be indirectly affected by the oil market. However, the unchanged price cap on Russian oil may not have a significant short-term impact on VGK.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50