Oil hits more than 3-month high as US sanctions hit Russia exports
1. Oil prices surge due to fears of reduced Russian crude supply. 2. Sanctions could impact key importers like China and India.
FAQ
Why Bullish?
Increased oil prices typically boost energy-related investments, benefitting BNO indirectly.
How important is it?
Higher oil prices can create immediate impact on BNO's performance as an oil fund.
Why Short Term?
Immediate price reactions likely from ongoing geopolitical tensions and sanctions.