Should You Invest in Oil ETFs on Rising Middle East Tensions?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 02 2024
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Source: NASDAQ.COM
Escalation of Tensions: An Iranian missile attack on Israel has heightened geopolitical tensions, leading to increased demand for safe-haven assets and a rise in oil prices, as both Israel and the U.S. promise retaliation amidst fears of a broader conflict.
Oil Market Outlook: Despite the recent spike in oil prices due to Middle East tensions, analysts suggest that the long-term outlook remains uncertain due to demand concerns, while OPEC+ continues to manage production cuts to stabilize the market.
Analyst Views on USL
Wall Street analysts forecast USL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USL 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: 35.059
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Current: 35.059
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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.
