Iran's Oil Exports Have Increased As U.S. Has Backed Away From Some Sanctions Enforcement; U.S. Curbed Actions Targeting Iran's Oil Exports In Run Up To Detainee Release
Portfolio Pulse from Benzinga Newsdesk
According to a Wall Street Journal report, Iran's oil exports have increased as the U.S. has backed away from some sanctions enforcement. The U.S. curbed actions targeting Iran's oil exports in the run-up to the detainee release.
September 20, 2023 | 5:54 pm
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NEGATIVE IMPACT
The United States Oil Fund (USO) could be directly impacted by the increase in Iran's oil exports due to the easing of U.S. sanctions.
The USO ETF, which tracks the price of West Texas Intermediate light, sweet crude oil, could be negatively impacted by an increase in global oil supply due to the easing of sanctions on Iran's oil exports.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
The easing of sanctions on Iran's oil exports could potentially impact the global oil market, which may indirectly affect the SPY ETF.
The SPY ETF, which tracks the S&P 500, could be indirectly affected by changes in the global oil market due to the diversified nature of its holdings. However, the direct impact is uncertain.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50