Good News & Bad News, page-43445

Paul Hoffman wrote in TipRanks (Nasdaq.com) on 11 June 2024 that because Saudi Arabia didn't extend the 50-year-old petrodollar agreement with the U.S, there are going to be far-reaching implications, as that has the potential to disrupt the global financial order.

He added:

"U.S. Dollar’s Future
The petrodollar’s expiration could weaken the U.S. dollar and, by extension, the U.S. financial markets. If oil were to be priced in a currency other than the dollar, it could lead to a decline in global demand for the greenback. This, in turn, could result in higher inflation, higher interest rates, and a weaker bond market in the United States.

Key Takeaway – A Significant Shift in Global Power Dynamics
The expiration of the petrodollar agreement represents a significant shift in global power dynamics. It highlights the growing influence of emerging economies and the changing energy landscape. While the full implications of this shift remain to be seen, investors should at least be aware that on a macro level, the global financial order is entering a new era. The U.S. dollar’s dominance is no longer guaranteed."

I am not sure how it will affect PLS directly and indirectly. But as he said above: "investors should at least be aware that on a macro level, the global financial order is entering a new era."

https://www.nasdaq.com/articles/us-saudi-petrodollar-pact-ends-after-50-years#:~:text=The%20agreement%20between%20the%20U.S.,critical%20factor%20in%20this%20development.