Russia's Deputy Prime Minister Novak Says The Russian Market Fully Supplied With Gasoline And Diesel Fuel
Portfolio Pulse from Benzinga Newsdesk
Russia's Deputy Prime Minister Novak announced that the Russian market is fully supplied with gasoline and diesel fuel.
July 29, 2024 | 1:58 pm
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NEUTRAL IMPACT
The announcement by Russia's Deputy Prime Minister Novak that the Russian market is fully supplied with gasoline and diesel fuel could stabilize oil prices, impacting the United States Oil Fund (USO).
A fully supplied Russian market could lead to stable or slightly lower oil prices, which may have a neutral to slightly positive impact on USO in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Russia's assurance of a fully supplied gasoline and diesel market may affect European markets and the Vanguard FTSE Europe ETF (VGK), which includes exposure to European energy companies.
The news may lead to stable energy prices in Europe, which could have a neutral impact on VGK in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 40