Israel Expands Gas Exports To Egypt, Energy Minister Says
Portfolio Pulse from Benzinga Newsdesk
Israel has increased its gas exports to Egypt, according to the country's Energy Minister. This move could potentially affect the performance of certain ETFs that are exposed to the Israeli and Egyptian markets, as well as the natural gas market.
August 23, 2023 | 1:51 pm
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POSITIVE IMPACT
The VanEck Vectors Egypt Index ETF (EGPT) could be affected by Israel's increased gas exports to Egypt.
As Israel increases its gas exports to Egypt, this could potentially boost the Egyptian economy and, in turn, positively impact the performance of the EGPT ETF, which tracks the performance of publicly traded companies in Egypt.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The iShares MSCI Israel ETF (EIS) could see a positive impact from Israel's increased gas exports to Egypt.
The increased gas exports from Israel to Egypt could potentially strengthen the Israeli economy and, in turn, positively impact the performance of the EIS ETF, which tracks the performance of publicly traded companies in Israel.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The United States Natural Gas Fund (UNG) could be indirectly affected by Israel's increased gas exports to Egypt.
While the UNG ETF, which tracks the price of natural gas, could be indirectly affected by Israel's increased gas exports to Egypt, the impact is likely to be minimal as the ETF is more directly influenced by the supply and demand dynamics of the US natural gas market.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50