U.S. President Biden Says Depleting Strategic Petroleum Reserve Is On Table
Portfolio Pulse from Benzinga Newsdesk
U.S. President Biden has stated that depleting the Strategic Petroleum Reserve is an option being considered. This move could potentially affect the oil market and related stocks.
September 19, 2023 | 1:22 pm
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NEUTRAL IMPACT
The potential depletion of the Strategic Petroleum Reserve could impact the SPY ETF, which includes energy sector stocks.
The Strategic Petroleum Reserve is a significant factor in the oil market. If it's depleted, it could cause fluctuations in oil prices, which could impact energy sector stocks included in the SPY ETF.
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