Libya's Sharara Oil Field Is To Be Halted Due To Protests
Portfolio Pulse from Benzinga Newsdesk
Libya's Sharara oil field is set to halt operations due to protests, according to Reuters. This could potentially impact the global oil supply and prices.
July 13, 2023 | 6:14 pm
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The halt in operations at Libya's Sharara oil field could potentially impact the United States Oil Fund (USO) due to changes in global oil supply and prices.
The United States Oil Fund (USO) is an exchange-traded fund (ETF) that aims to track the price of West Texas Intermediate (WTI) light, sweet crude oil. A halt in operations at a major oil field like Sharara could disrupt the global oil supply, potentially leading to changes in oil prices. This could impact the performance of USO.
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