Oil is trading higher amid Israel-Iran fears, which have caused supply uncertainty.
Portfolio Pulse from Benzinga Newsdesk
Oil prices are on the rise due to increasing tensions between Israel and Iran, leading to concerns over potential supply disruptions.
April 12, 2024 | 2:25 pm
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The United States Oil Fund (USO) is likely to experience a short-term increase in value as oil prices rise amid Israel-Iran tensions.
The United States Oil Fund (USO) tracks the daily price movements of West Texas Intermediate light, sweet crude oil. Given the current geopolitical tensions between Israel and Iran, which have historically led to fears of supply disruptions, it's reasonable to expect an increase in oil prices. This, in turn, would likely result in a positive impact on USO's value in the short term, as investors anticipate higher oil prices to reflect positively on the fund's performance.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90