White House Says We Hope India Will Buy Russian Oil At Rate Dictated By Price Cap
Portfolio Pulse from Benzinga Newsdesk
The White House has expressed hope that India will purchase Russian oil at a rate dictated by the price cap, according to Reuters.
June 23, 2023 | 6:06 pm
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NEUTRAL IMPACT
India's potential purchase of Russian oil at a capped price may impact the iShares MSCI India ETF (INDA).
India's decision to purchase Russian oil at a capped price may have mixed effects on the Indian economy and INDA. While it could lead to lower oil import costs, it may also strain relations with other oil-producing countries.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEUTRAL IMPACT
The potential purchase of Russian oil by India at a capped price may have a limited impact on the S&P 500 ETF (SPY).
The news may have a limited impact on the overall US market, as represented by SPY, since it primarily concerns India and Russia. However, it could affect specific sectors, such as energy, within the index.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 25
NEUTRAL IMPACT
India's potential purchase of Russian oil at a capped price may impact the United States Oil Fund (USO).
India's decision to purchase Russian oil at a capped price may affect global oil prices and demand dynamics, which could impact the United States Oil Fund (USO). However, the extent of the impact will depend on the volume of oil purchased and the overall market conditions.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The potential purchase of Russian oil by India at a capped price may have a limited impact on the Vanguard FTSE Europe ETF (VGK).
The news may have a limited impact on the overall European market, as represented by VGK, since it primarily concerns India and Russia. However, it could affect specific sectors, such as energy, within the index.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 25