White House On Spike In Natural Gas Prices, Says, Of Course We Continue To Watch The Global Energy Market
Portfolio Pulse from Happy Mohamed
The White House has acknowledged the recent spike in natural gas prices and stated that it continues to monitor the global energy market.
August 09, 2023 | 3:25 pm
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POSITIVE IMPACT
The UNG ETF, which tracks natural gas futures, is likely to be directly affected by the spike in natural gas prices.
The UNG ETF tracks natural gas futures, so a spike in natural gas prices is likely to directly affect the ETF. The White House's monitoring of the situation indicates that the government is aware of the issue and could take action, which could further impact the ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may be indirectly affected by the spike in natural gas prices as it includes energy companies.
The SPY ETF tracks the S&P 500, which includes energy companies. Therefore, changes in the energy market, such as a spike in natural gas prices, could indirectly affect the ETF. However, the impact is likely to be limited as energy companies make up a small portion of the S&P 500.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50