Oil is trading higher after the Israeli military carried out an airstrike on Hezbollah headquarters in Beirut, Lebanon. Also, Israeli Prime Minister Netanyahu, in a speech to the UN, issued a warning to Iran, mentioned Hezbollah and said his country has "every right to remove this threat and return our citizens to their homes safely."
Portfolio Pulse from Benzinga Newsdesk
Oil prices are rising following an Israeli airstrike on Hezbollah headquarters in Beirut, Lebanon. Israeli Prime Minister Netanyahu emphasized the right to address threats and ensure citizen safety in a UN speech.
September 27, 2024 | 4:14 pm
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POSITIVE IMPACT
The BNO ETF, which tracks Brent crude oil prices, is likely to see a positive impact as oil prices rise due to geopolitical tensions following Israel's airstrike on Hezbollah in Beirut.
BNO is directly linked to Brent crude oil prices, which are rising due to increased geopolitical tensions in the Middle East. Such events typically lead to higher oil prices, benefiting BNO.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The USO ETF, which tracks West Texas Intermediate (WTI) crude oil prices, is likely to benefit from the rise in oil prices due to the Israeli airstrike on Hezbollah in Beirut.
USO is tied to WTI crude oil prices, which are expected to rise due to heightened geopolitical tensions in the Middle East, similar to the impact on Brent crude.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80