The oil funds circulating in oil are increasing more than 6 % as Trump requires evacuation in the Middle East amid Iran’s tensions, which warn the region “can be dangerous” – ARCA: UCO, the United States oil fund (ARCA: USO)
Crude oil prices and the traded investment funds for the commodity are rising in the rise in escalating tensions in the Middle East, which sends prices to its highest levels for two months.
What happened: On Wednesday, crude oil prices rose more than 4 % amid increasing tensions between the United States and Iran, prompting Washington to evacuate non -emergency individuals of its bases and embassies across the Middle East.
president Donald Trump She announced that the American employees stationed in the Middle East have been transferred, because it may “be a dangerous place.”
Trump also expressed doubts about whether the United States and Iran could reach a nuclear deal, saying that “they cannot have a nuclear weapon, very simple.”
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Brent crude futures reaction was rapidly on the news, raising 4.81 % during the day and ended at $ 69.81 a barrel. The commodity crossed $ 70 on Thursday, but it has since witnessed a decline, and is currently trading in $ 69.46 a barrel, a decrease of 0.46 % at the time of this report.
Why do it matter: The evacuation news affected the markets, with Dow Jon’s industrial average Nearly 300 points decreased from its previous peak of 43,115, and decreased to 42,860 late in the session.
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Raising the rise in crude oil prices in circulating investment funds that follow the commodity, such as The United States Oil Fund LP USOWhich rose 4.50 % on Wednesday, followed Prosthares Ultra Bloomberg crude oil UCO and SPDR S & P Oil and gas Explore and Production ETF xop6.56 % and 1.90 %, respectively.
| Money and etfs | It returns one day | Object returns to date |
| United States Oil Fund LP | +4.50 % | -2.74 % |
| Prosthares Ultra Bloomberg crude oil | +6.56 % | 15.41 % |
| SPDR S & P Oil and gas Explore and Production ETF | +1.90 % | -4.69 % |
However, crude oil prices are expected to remain under pressure, with the organization of oil exporting or OPEC+ relaxation despite low prices.
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