Oil Prices Rise As Concerns Over Supply Grow Amid Middle East Unrest: This Fund Offers 2X Leverage To Play The Sector Bullishly
Portfolio Pulse from Melanie Schaffer
The Direxion Daily S&P Oil & Gas Exp & Prod Bull 2X Shares (GUSH) rose by 0.8% amid geopolitical conflict and potential disruption of oil supplies from the Middle East. Analysts maintained a Buy rating on Marathon Oil Corporation (MRO) and bullish ratings on Exxon Mobil Corp (XOM). GUSH is a double-leveraged fund designed to outperform companies in the S&P Oil & Gas Exploration & Production Select Industry Index. Exxon, Occidental Petroleum Corporation (OXY), and Marathon Oil are among the popular companies held in the ETF.
October 16, 2023 | 3:27 pm
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GUSH rose by 0.8% amid geopolitical conflict and potential disruption of oil supplies from the Middle East.
The rise in GUSH is due to the potential disruption of oil supplies from the Middle East, which is causing oil prices to surge. This is bullish for GUSH.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Analysts maintained a Buy rating on Marathon Oil Corporation (MRO).
The maintained Buy rating on MRO indicates that analysts believe the stock will outperform the market in the near future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Occidental Petroleum Corporation (OXY) is one of the popular companies held in the GUSH ETF.
As one of the popular companies held in the GUSH ETF, any positive movement in GUSH could potentially benefit OXY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Analysts maintained bullish ratings on Exxon Mobil Corp (XOM).
The maintained bullish ratings on XOM indicates that analysts believe the stock will outperform the market in the near future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80