How Oil Markets Reacted After Wagner Group Attempted Coup Against Vladimir Putin In Russia
Portfolio Pulse from Bhavik Nair
Oil prices rose during Monday's Asian trading session following the attempted coup against Russian President Vladimir Putin. West Texas Intermediate and Brent futures increased, while concerns about a global slowdown and potential rate hikes remain. The United States Brent Oil Fund LP (BNO) and the Vanguard Energy Index Fund ETF (VDE) experienced declines on Friday.
June 26, 2023 | 2:01 am
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The United States Brent Oil Fund LP (BNO) closed 0.16% lower on Friday amid concerns about the attempted coup against Putin and potential rate hikes.
The attempted coup against Putin has led to increased oil prices, which could have a short-term impact on BNO. However, concerns about a global slowdown and potential rate hikes may counteract any upward price pressure, resulting in a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The Vanguard Energy Index Fund ETF (VDE) shed 0.88% on Friday due to concerns about the attempted coup against Putin and potential rate hikes.
The attempted coup against Putin has led to increased oil prices, which could have a short-term impact on VDE. However, concerns about a global slowdown and potential rate hikes may counteract any upward price pressure, resulting in a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80