The Senate Votes To Block Sales Of U.S. Oil Reserves To China
Portfolio Pulse from Happy Mohamed
The U.S. Senate has voted to block sales of U.S. oil reserves to China. This decision could potentially impact the global oil market and the related ETFs.
July 20, 2023 | 6:21 pm
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NEGATIVE IMPACT
The decision to block sales of U.S. oil reserves to China could potentially impact the iShares China Large-Cap ETF (FXI) due to its exposure to Chinese companies that could be affected by changes in the oil market.
The decision to block sales of U.S. oil reserves to China could lead to a rise in oil prices, which could negatively impact Chinese companies that rely on oil, and by extension, the FXI ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The decision to block sales of U.S. oil reserves to China could potentially impact the SPDR S&P 500 ETF (SPY) due to its exposure to U.S. companies that could be affected by changes in the oil market.
The decision to block sales of U.S. oil reserves to China could lead to a rise in oil prices, which could negatively impact U.S. companies that rely on oil, and by extension, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
The decision to block sales of U.S. oil reserves to China could potentially impact the United States Oil Fund (USO) due to changes in the global oil market.
The decision to block sales of U.S. oil reserves to China could lead to a rise in oil prices, which could positively impact the USO ETF, which tracks the price of oil.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90