Oil is trading higher following upbeat US economic data. Oil may also be up amid continued Middle East tensions, which could impact supply.
Portfolio Pulse from Benzinga Newsdesk
Oil prices are trading higher due to positive US economic data and ongoing Middle East tensions that could affect supply.
August 15, 2024 | 7:49 pm
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POSITIVE IMPACT
BNO, an ETF tracking Brent crude oil, is likely to see a price increase due to higher oil prices driven by positive US economic data and Middle East tensions.
BNO tracks Brent crude oil prices, which are rising due to positive US economic data and potential supply disruptions from Middle East tensions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
USO, an ETF tracking WTI crude oil, is expected to see a price increase as oil prices rise on positive US economic data and Middle East tensions.
USO tracks WTI crude oil prices, which are increasing due to positive US economic data and potential supply disruptions from Middle East tensions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80