Houthi's Statement Says "We Affirm Our Steadfast Position In Supporting The Palestinian People Until Israel's Aggression Ends, Siege On The Gaza Strip Lifted"
Portfolio Pulse from Benzinga Newsdesk
Reuters reports a statement from the Houthi group affirming their support for the Palestinian people and calling for an end to Israel's aggression and the lifting of the siege on the Gaza Strip.
December 19, 2023 | 6:51 pm
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POSITIVE IMPACT
The Houthi's statement may contribute to regional instability, which could lead to concerns over oil supply disruptions, potentially affecting the United States Oil Fund (USO).
The Middle East is a crucial region for global oil production. Increased tensions, such as those indicated by the Houthi statement, can lead to fears of supply disruptions, which might drive up oil prices and positively impact USO in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
The Houthi statement expressing support for Palestinians and calling for an end to Israeli actions may increase geopolitical tensions, potentially affecting the performance of the iShares MSCI Israel ETF (EIS).
Geopolitical tensions in the Middle East often lead to increased volatility in regional markets. The Houthi statement could exacerbate tensions, leading to potential negative sentiment towards Israeli assets, including EIS.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70