Oil Rises on Worries Over Escalation of Russia-Ukraine War
Portfolio Pulse from
Oil prices increased in early Asian trade due to concerns over the escalation of the Russia-Ukraine war.
November 22, 2024 | 2:15 am
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POSITIVE IMPACT
The escalation of the Russia-Ukraine war has led to an increase in oil prices, which is likely to positively impact the United States Brent Oil Fund (BNO) as it tracks the price of Brent crude oil.
BNO is an ETF that tracks the price of Brent crude oil. As oil prices rise due to geopolitical tensions, BNO is likely to experience a positive impact in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80