U.S. 5 Year Oil Lease Plan Will Include The Lowest Lease Sales In History
Portfolio Pulse from Benzinga Newsdesk
The U.S. government's 5-year oil lease plan will include the lowest lease sales in history, according to Reuters. This could potentially impact the oil market and related ETFs.
September 28, 2023 | 7:58 pm
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NEGATIVE IMPACT
The SPY ETF, which includes energy sector stocks, could be impacted by the U.S. government's oil lease plan.
The SPY ETF includes energy sector stocks. The U.S. government's plan to reduce oil lease sales could potentially lead to a decrease in the value of these stocks, thereby impacting the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The USO ETF, which tracks the price of oil, could be impacted by the U.S. government's oil lease plan.
The USO ETF tracks the price of oil. The U.S. government's plan to reduce oil lease sales could potentially lead to a decrease in the price of oil, thereby impacting the ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90