Looking To Trade The Energy Sector After Russia, Saudi Arabia Extend Oil Production Cuts? This Fund Offers Leverage
Portfolio Pulse from Melanie Schaffer
The Direxion Daily S&P Oil & Gas Exp & Prod Bull 2X Shares (GUSH) rose about 2.5% after Saudi Arabia and Russia extended crude oil production cuts until December. This caused stocks in the oil sector to rally, with WTI-graded crude oil prices rising to $87 a barrel. GUSH is a double-leveraged fund designed to outperform the movement of companies in the S&P Oil & Gas Exploration & Production Select Industry Index, including Exxon Mobil Corp (XOM), Occidental Petroleum Corporation (OXY), and Marathon Oil Corporation (MRO).
September 05, 2023 | 4:15 pm
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GUSH rose after Saudi Arabia and Russia extended oil production cuts. The ETF is designed to outperform the movement of companies in the S&P Oil & Gas Exploration & Production Select Industry Index.
The extension of oil production cuts by Saudi Arabia and Russia has led to a rally in the oil sector, positively impacting GUSH. As a double-leveraged fund, GUSH is designed to outperform the movement of companies in the S&P Oil & Gas Exploration & Production Select Industry Index, making it a potentially profitable investment in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Marathon Oil Corporation (MRO) is one of the companies held in the GUSH ETF, which rose after the extension of oil production cuts by Saudi Arabia and Russia.
As one of the companies held in the GUSH ETF, Marathon Oil Corporation (MRO) is likely to see a positive impact from the rally in the oil sector following the extension of oil production cuts by Saudi Arabia and Russia.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Occidental Petroleum Corporation (OXY) is one of the companies held in the GUSH ETF, which rose after the extension of oil production cuts by Saudi Arabia and Russia.
As one of the companies held in the GUSH ETF, Occidental Petroleum Corporation (OXY) is likely to see a positive impact from the rally in the oil sector following the extension of oil production cuts by Saudi Arabia and Russia.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Exxon Mobil Corp (XOM) is one of the companies held in the GUSH ETF, which rose after the extension of oil production cuts by Saudi Arabia and Russia.
As one of the companies held in the GUSH ETF, Exxon Mobil Corp (XOM) is likely to see a positive impact from the rally in the oil sector following the extension of oil production cuts by Saudi Arabia and Russia.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70