Fitch Says Expect A Small Oil-Market Deficit In Q3 And Q4
Portfolio Pulse from Benzinga Newsdesk
Fitch Ratings agency predicts a small oil-market deficit in Q3 and Q4, according to Reuters. This could potentially impact the prices of oil-related ETFs such as SPY and USO.
October 03, 2023 | 1:14 pm
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The SPY ETF, which has exposure to the oil market, could be impacted by Fitch's prediction of a small oil-market deficit in Q3 and Q4.
SPY ETF has exposure to the oil market. A deficit in the oil market, as predicted by Fitch, could lead to a decrease in oil prices, which could negatively impact the value of the ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
The USO ETF, which tracks the price of oil, could be affected by Fitch's forecast of a small oil-market deficit in Q3 and Q4.
USO ETF directly tracks the price of oil. A deficit in the oil market, as predicted by Fitch, could lead to a decrease in oil prices, which could negatively impact the value of the ETF.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85