Senior State Dept Official Says U.S. Is Issuing Licenses To Broadly Ease Sanctions On Venezuela's Oil And Gas Sector, Including Its Business With Caribbean Nations – State Dept Official
Portfolio Pulse from Benzinga Newsdesk
The U.S. is issuing licenses to broadly ease sanctions on Venezuela's oil and gas sector, including its business with Caribbean nations, according to a senior State Department official.
October 18, 2023 | 6:06 pm
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NEUTRAL IMPACT
The easing of sanctions on Venezuela's oil and gas sector could potentially impact the broader market, represented by SPY.
While the easing of sanctions on Venezuela's oil and gas sector could potentially impact the broader market, it's uncertain to what extent this will affect SPY specifically. The impact will depend on how the market reacts to this news.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The easing of sanctions on Venezuela's oil and gas sector could potentially impact the United States Oil Fund, LP (USO).
The easing of sanctions on Venezuela's oil and gas sector could potentially increase the supply of oil, which could impact the price of oil and therefore the performance of USO.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80