Oil is trading higher after hours following a draw in US crude inventories.
Portfolio Pulse from Bill Haddad
Oil prices are trading higher after hours due to a draw in US crude inventories.
May 23, 2023 | 8:49 pm
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POSITIVE IMPACT
United States Oil Fund (USO) is likely to benefit from higher oil prices following a draw in US crude inventories.
The United States Oil Fund (USO) is an ETF that tracks the performance of oil prices. As oil prices are trading higher after hours due to a draw in US crude inventories, this will likely have a positive impact on USO's performance in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100