Oil ETFs Plunge Premarket After Israel's Strikes On Iran
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
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Source: Benzinga
Oil ETFs Decline: Oil-based exchange-traded funds (ETFs) fell over 4% following Israel's military strikes on Iran, which were reported as limited and did not significantly impact oil supplies.
Geopolitical Tensions: Despite the attacks, Iran's oil industry remains operational, contributing to global supply, while ongoing geopolitical tensions continue to affect energy markets and oil price forecasts.
Analyst Views on UCO
Wall Street analysts forecast UCO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for UCO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 21.310
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Current: 21.310
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
