Iraqi Oil Flows To Turkey Not Expected To Resume Before October
Portfolio Pulse from Happy Mohamed
According to Reuters, the flow of Iraqi oil to Turkey is not expected to resume before October. This could potentially impact the performance of ETFs like TUR and USO.
September 05, 2023 | 12:37 pm
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NEGATIVE IMPACT
The delay in resumption of Iraqi oil flow to Turkey could potentially impact the performance of the iShares MSCI Turkey ETF (TUR).
TUR, which tracks the investment results of the MSCI Turkey IMI 25/50 Index, could be negatively impacted due to potential economic implications of the delayed oil flow from Iraq to Turkey.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The United States Oil Fund (USO), which tracks the price of West Texas Intermediate light, sweet crude oil, could also be impacted by the delay in resumption of Iraqi oil flow to Turkey.
USO could be negatively impacted as the delay in resumption of Iraqi oil flow to Turkey could potentially affect global oil supply and prices.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60