Oil Rises Amid Ongoing Geopolitical Tensions in Europe
Portfolio Pulse from
Oil prices increased during the Asian session due to escalating geopolitical tensions between Russia and Ukraine, which could impact the oil market.
November 21, 2024 | 1:45 am
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POSITIVE IMPACT
The escalation of the Russia-Ukraine conflict is causing oil prices to rise, which could positively impact the United States Brent Oil Fund (BNO) as it tracks the price of Brent crude oil.
BNO is directly linked to the price of Brent crude oil. As geopolitical tensions between Russia and Ukraine escalate, oil prices are rising, which is likely to benefit BNO in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80