Oil ETFs Rise on Supply Concerns

ETF Trends reported that the surge in oil prices and oil ETFs may be attributed to the unrest in the Middle East and optimism on the global economy.

As quoted in the market news:

The oil market is currently factoring in supply disruptions in Libya, Syria and Yemen. Additionally, oil moved last week on news of an imminent attack on Iran’s developing nuclear program – any attack on Iran would cause major disruptions in oil supply because the country is a major oil producer and because of Iran’s control over the Strait of Hormuz, a crucial shipping lane for oil.

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