Oil is trading higher amid Israel-Hezbollah tensions in Lebanon, which has caused supply uncertainty.
Portfolio Pulse from Benzinga Newsdesk
Oil prices are rising due to increased tensions between Israel and Hezbollah in Lebanon, leading to supply uncertainty.
September 23, 2024 | 2:19 pm
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POSITIVE IMPACT
BNO, an ETF that tracks Brent crude oil prices, is likely to see a positive impact as oil prices rise due to geopolitical tensions in the Middle East.
BNO is directly linked to Brent crude oil prices, which are rising due to supply concerns from Middle East tensions. This geopolitical event increases the likelihood of higher oil prices, benefiting BNO.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
USO, an ETF that tracks West Texas Intermediate (WTI) crude oil prices, is likely to see a positive impact as oil prices rise due to geopolitical tensions in the Middle East.
USO is directly linked to WTI crude oil prices, which are rising due to supply concerns from Middle East tensions. This geopolitical event increases the likelihood of higher oil prices, benefiting USO.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80