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Benzinga
Benzinga
Business
Chandrima Sanyal

Oil ETFs Are Popping On Trump's Sanctions, Just Don't Call It A Comeback Yet

Donald Trump Oil United States ETF Lukoil Rosneft Russia BNO USO
trump oil midjourney

Oil prices are rising once more as investors absorb the Trump administration’s new sanctions on Russia’s two biggest oil producers, Lukoil and Rosneft, an action that has added new geopolitics to an already volatile market.

The United States Oil Fund LP (NYSE:USO) increased 3.4% on Wednesday and a further 4% on Thursday morning, and the United States Brent Oil Fund LP (NYSE:BNO) jumped 3.3% Wednesday and an additional 3% Thursday morning, continuing the momentum that started earlier this week.

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