U.S., Venezuela In Talks For Fresh Oil Sanction Exemptions
Portfolio Pulse from Benzinga Newsdesk
The U.S. and Venezuela are in discussions regarding new exemptions to oil sanctions. This could potentially impact the oil market and related ETFs.
October 09, 2023 | 6:23 pm
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NEUTRAL IMPACT
The SPY ETF, which has exposure to the energy sector, could be impacted by potential changes in oil sanctions between the U.S. and Venezuela.
The SPY ETF has exposure to the energy sector, which includes oil companies. Any changes in oil sanctions could potentially affect the performance of these companies and, in turn, the ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The USO ETF, which tracks the price of oil, could be directly impacted by potential changes in oil sanctions between the U.S. and Venezuela.
The USO ETF directly tracks the price of oil. Any changes in oil sanctions could potentially affect the global oil supply and demand balance, and in turn, the price of oil and the performance of the ETF.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80